Brace For Oil Surge: Saudi Oil Tank In Ras Tanura Port Hit In Houthi Drone Attack

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Smoke billows from the site of Saudi-led air strikes in Sanaa, Yemen March 7, 2021. REUTERS/Khaled Abdullah

Zero Hedge: It’s not as if oil – the best performing class of 2021 – behind bitcoin of course – needed any more reasons to surge higher (for the latest tally please read “Saudis + Commodity Funds = Energy Stock Explosion“), but it got it moments ago when Saudi Arabia said that it had intercepted missiles and a barrage of drones launched from neighboring Yemen and which targeted Dhahran, where Saudi Aramco, the world’s biggest oil company, is headquartered, which eyewitnesses said was rocked by an explosion.

According to Bloomberg which quotes witnesses on the ground, the blast shook windows in Dhahran, which hosts a large compound for Aramco employees.

“There are reports of possible missile attacks and explosions this evening, March 7, in the tri-city area of Dhahran, Dammam, and Khobar in Saudi Arabia’s Eastern Province,” the U.S. consulate general in Dhahran said in a statement. Read More