Houthi Attacks Escalate: Saudi Aramco's Jizan Refinery Hit Again
Saudi Aramco's Jizan refinery has been hit by another attack from Houthi forces, further disrupting oil exports through the Red Sea. The refinery, which processes 400,000 barrels of crude per day, was targeted on Monday, with operations suspended temporarily as a result.
This is not the first time Jizan has been attacked; in July and August, Houthi forces struck Aramco facilities in the area, causing significant disruptions to oil shipments. The refinery's location on Saudi Arabia's Red Sea coast has become increasingly important since the war with Iran disrupted exports through the Strait of Hormuz.
As a result, Saudi Arabia has been rerouting oil west through its East West pipeline toward Yanbu. However, this move has not fully mitigated the impact of the attacks, with no exports recorded from Jizan in August. Houthi forces have also targeted tankers and other oil infrastructure along the kingdom's alternative Red Sea export route.
Despite these challenges, Aramco chief executive Amin Nasser said last month that the earlier attacks had 'no material operational or financial impact' on the company. However, Brent crude prices were trading above $97 per barrel on Monday, following Iran's proposal to control a new shipping corridor through Hormuz.