Saudi Aramco's Jizan Oil Facility Attacked, International Oil Prices Surge

On September 7, Saudi Aramco's Jizan oil facility was attacked, just a month after a previous attack led to the shutdown of some refining capacity. The company's oil infrastructure was targeted on Monday, and they are currently assessing the extent of the damage. Jizan is the closest industrial city in Saudi Arabia to the Yemeni border and has been attacked multiple times by Houthi forces in the past. Saudi Aramco CEO Amin Nasser stated last month that the attacks had caused some interruptions in oil production but had no substantial impact on operations or finances. Sources indicate that the scale of the latest attack is comparable to last month's. As a result, WTI crude oil rose by $0.59 per barrel within five minutes, now priced at $92.22 per barrel; Brent crude oil increased by $0.62 per barrel in the same timeframe, currently priced at $95.86 per barrel.

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