Yemen rebels claim drone attacks on major Saudi oil sites

[Peter1469]

Yemen rebels claim drone attacks on major Saudi oil sites

I would expect oil prices to spike and perhaps markets to drop on Monday over this news. At the link is a satellite image of smoke from burning oil wells. The target was the largest oil processing facility in Saudi Arabia.

Drones claimed by Yemen’s Houthi rebels attacked the world’s largest oil processing facility in Saudi Arabia and a major oilfield operated by Saudi Aramco early Saturday, sparking a huge fire at a processor crucial to global energy supplies.

It wasn’t clear if there were any injuries in the attacks in Buqyaq and the Khurais oil field, nor what effect it would have on oil production in the kingdom. The attack also likely will heighten tensions further across the wider Persian Gulf amid a confrontation between the U.S. and Iran over its unraveling nuclear deal with world powers. The Houthis are backed by Tehran amid a yearslong Saudi-led war against them in Yemen.


Online videos apparently shot in Buqyaq included the sound of gunfire in the background. Smoke rose over the skyline and glowing flames could be seen a distance away at the Abqaiq oil processing facility.


Saudi state television later aired a segment with a correspondent there as smoke from the blazes clearly rose behind. That smoke also was visible from space.


The fires began after the sites were “targeted by drones,” the Interior Ministry said in a statement carried by the state-run Saudi Press Agency. It said an investigation into the attack was underway.


In a short address aired by the Houthi’s Al-Masirah satellite news channel, military spokesman Yahia Sarie said the rebels launched 10 drones in their coordinated attack on the sites. He warned attacks by the rebels would only get worse if the war continues.


“The only option for the Saudi government is to stop attacking us,” Sarie said.


The U.S. Embassy in Riyadh said it was “unaware of any injuries to American citizens.”

[Peter1469]

The attack apparently was much more serious than initially reported. Saudi Arabia shuts down about half its oil output after drone strikes. I expect they had support from Iran to pull something this big off.

This will rock the markets unless something changes by Monday.

Saudi Arabia is shutting down about half of its oil output after apparently coordinated drone strikes hit Saudi production facilities, people familiar with the matter said, in what Yemen’s Houthi rebels described as one of their largest-ever attacks inside the kingdom.

The production shutdown amounts to a loss of about five million barrels a day, the people said, roughly 5% of the world’s daily production of crude oil. The kingdom produces 9.8 million barrels a day.



The coordinated drone strikes on facilities in Saudi Arabia’s Eastern Province mark the latest in a series of attacks on the country’s petroleum assets in recent months, as tensions rise among Iran and its proxies like the Houthis, and the U.S. and partners like Saudi Arabia. The Houthis have also claimed credit for drone attacks on Saudi pipelines, tankers and other infrastructure during a four-year war.

I just made a sizable withdrawal from one of my funds on Friday. Now that was good timing.

[Tahuyaman]

Obviously Iran provided a significant amount of support here.

[Peter1469]

Obviously Iran provided a significant amount of support here.

Probably the hardware and advisers.

[Tahuyaman]

Probably the hardware and advisers.

At least. I’m sure one of Iran’s apologists here could tell us why we are wrong.

[Peter1469]

At least.

Yes, at least.

[FindersKeepers]

The Houthis have claimed responsibility -- not that we would have questioned it -- but I agree, Iran was behind it.

It's easy to see why the House of Saud is fighting the rebels in Yemen -- they're out of control and Iran is trying to make inroads there.

This will very likely affect oil prices as you say.

[Peter1469]

The Houthis have claimed responsibility -- not that we would have questioned it -- but I agree, Iran was behind it.

It's easy to see why the House of Saud is fighting the rebels in Yemen -- they're out of control and Iran is trying to make inroads there.

This will very likely affect oil prices as you say.

This could push oil back over $100 brl.

[Ransom]

Global economic weakness will offset a serious spike in oil prices in my opinion, but Pete brings another opportunity here for Neocon lessons and learning seminars vital in keeping you tpf members flying straight. How a small conflict and proxy war in a poverty stricken nation truly has global consequences and geopolitical ramifications. Why outcomes in this region are of vital national interests of the United States.

[Peter1469]

Global economic weakness will offset a serious spike in oil prices in my opinion, but Pete brings another opportunity here for Neocon lessons and learning seminars vital in keeping you tpf members flying straight. How a small conflict and proxy war in a poverty stricken nation truly has global consequences and geopolitical ramifications. Why outcomes in this region are of vital national interests of the United States.

We are arming the Saudis in their proxy war with Iran. We are checking Iran in the Straight of Hormuz. We are conducting offensive cyber operations against Iran. I would not be surprised if that missile which was attempting to put a satellite into space that blew up, was it last week, was a cyber target of ours. I imagine we have many other intelligence and spec op operations going on as well.

What else do you want the US to do?