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Attack on Saudi Aramco Sparks Alarm: War Threatens Global Oil Supply

A missile strike on Saudi Aramco's facilities in Dhahran has raised concerns about the global oil supply, as the conflict in Yemen intensifies.
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Hutíes intensifican ataque contra Saudi Aramco y dejan víctimas
Foto Efe

The war in the Middle East has again affected the energy sector. An attack on Saudi Aramco’s facilities in Dhahran caused a fire and material damage.

The Ministry of Energy of Saudi Arabia confirmed that the incident occurred on Tuesday night and assured that there were no casualties.

A source from the oil company told Reuters that a ballistic missile hit an administrative tower and damaged its top three floors.

The affected complex houses strategic operations that oversee oil platforms, pipelines, refineries, and export terminals essential to the Saudi industry.

Houthis Intensify Attack on Saudi Aramco, Leaving Casualties

The offensive comes as Yemen’s Houthi rebels, allies of Iran, intensify their attacks on strategic Saudi targets.

During the last week, the group launched missiles and drones against key facilities, including Riyadh’s international airport.

One of those attacks left 13 dead on Saturday, while new offensives caused flight cancellations and heightened security concerns.

Saudi authorities also reported four injured in Riyadh by intercepted missile fragments, in addition to minor damage to 15 homes.

War in Yemen Threatens Global Oil Routes

The conflict took on an international dimension after Saudi Arabia resumed its military campaign against the Houthis in Yemen.

The operations aim to halt the rebels’ advances near the Bab el-Mandeb Strait, a strategic route for international maritime trade.

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This route gained importance after the closure of the Strait of Hormuz, caused by the war between the United States and Iran that began in February.

The threat to both maritime corridors increases energy uncertainty and could generate new pressures on international crude oil prices.

How Could the Conflict Affect Gasoline Prices in the United States?

A prolonged disruption to oil transportation could increase supply costs and eventually affect gasoline and diesel prices.

For Hispanic families in the United States, a sustained increase in fuel costs could also translate into higher transportation and merchandise expenses.

Meanwhile, Washington has avoided direct involvement in the Saudi campaign against the Houthis, despite the kingdom’s requests for support.

Iran offered to mediate between the two parties, although the continuation of attacks keeps doubts open about a possible diplomatic solution.

Source: Reuters.