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Video Shows Saudi Red Sea Oil Terminal Ablaze After Fresh Drone Attack

Tyler Durden's Photo
by Tyler Durden
Friday, Mar 26, 2021 - 12:15 PM

Video has emerged of the aftermath of yet another Yemeni Houthi drone and missile attack on oil facilities in Saudi Arabia. A Houthi military statement has since confirmed it was behind the sabotage operation targeting key Saudi sites.

In the early hours of Friday a statement from the Saudi Oil Ministry confirmed that an oil terminal on the kingdom's Red Sea coast was struck by bomb-laden drones out of Yemen

As a result an oil terminal in Jizan, which lies just north of the Sauid-Yemen border, was engulfed in fire but which left no casualties. As cited in state-run SPA, a Saudi spokesman condemned the "cowardly attack against vital installations".

The statement further underscored that these ongoing and ramped-up attacks, multiple of which have occurred within just the past month, "not only target the Kingdom, but also petroleum exports, the stability of energy supply to the world, freedom of world trade, as well as the global economy."

Unconfirmed social media videos which circulated in the aftermath showed flames shooting high over the Jizan facility. 

The port city has actually been targeted many times, and has a new high-tech refinery which is described as follows: "Jizan is home to a new refinery and port facilities for the energy giant Saudi Arabian Oil Co. The refinery, with a capacity of 400,000 barrels a day, sent its first shipment abroad last year."

As MarketWatch notes: "Benchmark Brent crude BRNK21, 3.54% rose to over $62 a barrel in early trading Friday after the attack. Energy prices have risen recently off growing demand as coronavirus vaccinations increase and Egypt’s Suez Canal remains closed due to a massive container ship wedged across the vital waterway."

Later in the day Yemen's Houthis took responsibility for the Jizan attack while also claiming others in a broader and "successful" multi-pronged operation...

As we detailed at the start of this week, the Saudi military announced it's taking additional steps to protect its oil installations. It initiated within past days the "Confrontation 4" joint exercises which were geared specifically toward raising "readiness" to thwart future "terrorist attacks" on Saud energy and resource infrastructure.

This comes as fears grow that another major "Iran-sponsored attack" on Saudi oil processing sites, such as occurred with the major 2019 Abqaiq–Khurais attack, could cause the price of crude to skyrocket. 

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