Drone Strikes Hit Saudi Aramco's Ras Tanura Refinery

Saudi Aramco closed its Ras Tanura refinery after a drone strike by Tehran in retaliation to a U.S.-Israeli attack. This complex is vital for crude export, with a capacity of 550,000 bpd. The incident has stirred widespread disruptions in Gulf shipping hubs and spiked Brent crude prices.

Saudi Arabia's state oil giant, Aramco, has shuttered its Ras Tanura refinery following a drone strike, according to industry sources on Monday. The strike came after Tehran launched an attack across the region following a U.S.-Israeli offensive on Iran.

The strategically crucial Ras Tanura complex on the kingdom's Gulf coast is among the largest refineries in the Middle East, with a capacity of 550,000 barrels per day (bpd), playing a pivotal role in Saudi crude exports. The shutdown was enacted as a precautionary measure, with the situation reportedly under control. Aramco has yet to comment.

The drone strike contributes to a series of recent assaults in the Gulf region, including attacks on Abu Dhabi, Dubai, Doha, Manama, and Oman's commercial center, Duqm. These strikes have significantly affected major shipping routes in the UAE and Oman, and Brent crude futures saw a significant rise of about 10% on Monday. Previously, in September 2019, attacks on Saudi energy facilities temporarily crippled over half of the nation's oil production and disrupted global markets.

(With inputs from agencies.)