Saudi Aramco Delays Jazan Refinery Restart Amid Attack
Saudi Aramco has pushed back the restart of its Jazan oil refinery to late August, following a weekend attack on the facility. The 400,000-barrel-a-day complex was initially expected to resume operations by August 16, but is now tentatively scheduled to restart by August 30.
The attack, which occurred over the weekend, was claimed by Iran-backed Houthi militants in Yemen. The Saudi energy ministry stated that a fire was put out at the site without specifying a cause, while a person familiar with the matter said the blaze impacted one crude storage tank.
Disruptions to oil refineries in the Middle East and Russia are straining the global diesel market, as fallout from both the Iran war and Moscow's ongoing conflict with Ukraine combine to squeeze supplies. European and US diesel futures jumped on Monday in response to these developments.