Saudi Arabia Says It Will “Not Be Held Responsible” As Houthis Attempt To Disrupt Global Oil

March 25, 2022   |   Tags:
Saudi Arabia Says It Will "Not Be Held Responsible" As Houthis Attempt To Disrupt Global Oil

(Update 14:30ET): Saudi state media is citing the kingdom's energy ministry to confirm that petroleum products distribution facilities in the cities of Jazan and Jeddah were hit in Friday's Yemeni Houthi missile and drone attack, which included at least 16 projectiles targeting Saudi infrastructure, including reportedly a water plant.

The energy ministry said the kingdom will "not be held responsible" for any shortage of oil supplies to global markets caused by the attacks, which in the past weeks have ramped up. Given the quickness with which the Houthi military via its spokesman proudly owned up to the attack, it's expected more will come.

Further the Saudis said the Yemen Houthis were bent on disrupting the world's energy supply and security...

This also obviously comes as the White House has already long been scrambling to shore up alternate and additional supplies of oil in the face of the Russia-Ukraine invasion crisis.

Fire at Aramco facility in Jeddah, on the Red Sea, AFP/Getty Images

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(Update 12:16ET): A confirmed Houthi attack, with full Houthi military statement expected to be issued soon.

It appears there have been other inbound attacks, some of which the Saudis say they've intercepted:

  • HOUTHI STATEMENT ON SAUDI OPERATION COMING `SHORTLY': SPOKESMAN
  • SAUDI ARABIA DESTROYS 2 DRONES LAUNCHED TOWARDS NAJRAN: ARABIYA
  • YEMEN'S HOUTHIS LAUNCHED MISSILES AND DRONES ON ARAMCO FACILITIES IN JEDDAH - MILITARY SPOKESMAN
  • YEMEN'S HOUTHIS MILITARY SPOKESMAN SAYS TARGETED VITAL FACILITIES IN SAUDI ARABIA'S CAPITAL
  • ARAB COALITION SAYS HOUTHI LAUNCHED 16 HOSTILE ATTACKS ON FRIDAY

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(Update 11:30am): as Energy Intel's Amena Bakr notes, it appears that Houthi rebels will - as widely expected - take the claim for the attack on the Aramco facility in Jeddah:

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Oil has spiked to session highs, slamming the Nasdaq down to session lows)...

... after breaking reports of a major fire burning uncontrollably at a Saudi Aramco facility in the port city of Jeddah. According to unconfirmed reports, a Houthi missile or possible drone strike hit the facility from Yemen. The Saudi Press Agency tweeted that a projectile fell on a power distribution station in Samtah, causing a fire; No casulties have been reported. Meanwhile, Al-Arabiya reported that a strike hit the tanks of the National Water Company in Dhahran Al-Janoub, adding that civilian vehicles and residential houses were also hit.

Today's alleged attack follows a series of recent attacks from Yemen on various Saudi sites, including a last Sunday drone and missile attack also on Jeddah. 

While social media videos appear to confirm the inferno, there has not yet been an official confirmation of the reported missile strike.

Another video shows huge plumes of smoke above Jeddah:

And more from the scene...

The blaze appears to be the result of possibly the biggest Houthi attack in months that the kingdom has witnessed, also at a moment the US has said it is transferring more Patriot missile systems to defend against the attacks out of Yemen.

Tyler Durden Fri, 03/25/2022 - 14:30


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