Middle East Conflict Escalates, Oil Prices Rise Amid Refinery Disruptions

The conflict in the Middle East continues to escalate, causing significant disruptions to the global energy sector.

The Jazan refinery complex in Saudi Arabia, which was idled during a July strike, is likely to remain offline through August after suffering damage from an attack by the Houthi rebel group on August 9. The facility's operator, Saudi Aramco, is continuing repair work.

An earlier drone strike on July 27 also damaged the Integrated Gasification Combined Cycle (IGCC) complex and tank farm area, with a full restart not expected until September.