Aramco's Jizan Refinery Hit Again Amid Escalating Regional Tensions
Saudi Aramco's Jizan refinery has been hit for the second time this month, with multiple explosions reported at the site. The state energy giant is still assessing the damage from Monday's strike, which marks an escalation in tensions between Houthi forces and Saudi Arabia over Red Sea shipping lanes and energy infrastructure.
The attack comes as global energy markets are under pressure due to a separate flashpoint in the Strait of Hormuz, where the United States and Iran have traded tit-for-tat attacks on vessels. This has driven crude benchmarks higher, with Brent extending above $97 a barrel and WTI above $92. The repeated targeting of Jizan highlights the vulnerability of Aramco's downstream assets at a time when regional tensions are keeping a firm bid under crude.
Iran's Parliament Speaker Ghalibaf warned US oil and gas companies operating in the region that they would be targeted if they struck Iranian assets, saying 'Strike our assets and you get struck.' The Iraqi prime minister's advisor noted that Iraq has moved to a phase of coexistence with the Hormuz crisis, with August crude exports reaching around 70 million barrels.