Global oil prices increased on Monday after Houthi forces in Yemen claimed responsibility for a series of drone and ballistic missile attacks targeting energy infrastructure in Saudi Arabia. Saudi officials confirmed an attack on a major oil port but stated that production was not affected.
The Houthi movement’s military spokesman, Yahya Saree, announced in a televised statement that its forces had launched eight ballistic missiles and 14 armed drones at targets across the kingdom. The claimed targets included Saudi Aramco facilities at the port of Ras Tanura, one of the world’s largest offshore oil loading facilities, as well as military sites in the cities of Dammam, Asir, and Jazan.
In response, Saudi Arabia’s Ministry of Energy issued a statement confirming that a petroleum tank farm at the Ras Tanura port was attacked by a drone that came from the sea. The ministry said the attack did not result in any injuries, loss of life, or damage to property, and that petroleum supplies were not impacted.
A spokesman for the Saudi-led military coalition, Colonel Turki al-Malki, reported separately that the coalition’s forces had intercepted and destroyed most of the projectiles. According to a statement carried by the official Saudi Press Agency, shrapnel from an intercepted ballistic missile landed near a residential compound for Saudi Aramco employees in Dhahran, but it caused no casualties. The coalition described the targeting of civilian areas and energy infrastructure as a “red line.”
Following the reports, oil markets responded to the events in the world’s top oil-exporting nation. Brent crude futures, the international benchmark, rose above $70 a barrel for the first time since the beginning of the COVID-19 pandemic. U.S. West Texas Intermediate (WTI) crude also saw prices climb.
The attacks represent an escalation in the ongoing conflict between the Houthi movement and the Saudi-led military coalition. The coalition intervened in Yemen in 2015 to support the internationally recognized government after it was ousted from the capital, Sanaa, by the Houthis. The United States and Saudi Arabia have described the Houthi movement as being backed by Iran, a characterization that both the Houthis and Iran have disputed.
The events drew reactions from international bodies. The United States condemned the attacks, with the U.S. embassy in Riyadh calling them “unacceptable and dangerous.” A State Department spokesperson reaffirmed the U.S. commitment to defending Saudi Arabia.
