Saudi Oil Facilities Show Signs of Smoke Amid Trading Uncertainty

Oil traders are on edge after satellite images showed smoke at several Saudi oil facilities over the past 48 hours. The data from the European Union's Sentinel-2 Earth observation satellite revealed flaring at the Abqaiq oil processing plant, a crucial site in Saudi oil exports that can process about 7 million barrels daily.

The Abqaiq facility was attacked by the Houthis in 2019, cutting Saudi oil production in half. However, it's unclear whether the recent flaring has impacted the kingdom's energy production. The satellite images provided little information on the extent of the damage or potential impact on oil supplies.