Crude prices were sent higher on Friday, after reports emerged that Saudi Arabia’s Aramco oil facility was targeted by Houthi rebels.
An oil facility owned by Saudi Aramco located in Jeddah, Saudi Arabia burst into bellowing flames and smoke on Friday, after being hit by a missile launched by Yemen’s rebel Houthi militia.
A Houthi spokesperson later confirmed the attack, adding that further details on the group’s broader operations in the Saudi Arabia will revealed later in the day. The Yemen rebel group has been responsible for a number of attacks on Saudi Arabian facilities throughout the week, including a LNG plant, a water desalination plant, and a power station. The latest missile strike on the Aramco plant marks a further escalation of conflicts, after peace talks stalled.
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