Key facts
- Saudi Aramco's Jizan refinery was hit in a new attack on Monday.
- The refinery has a capacity of 400,000 barrels per day.
- The attack occurred on Saudi Arabia's Red Sea coast.
- Oil shipments from Jizan have fallen sharply since a previous attack.
- The Houthis have previously attacked facilities in Jizan and Yanbu.
Saudi Aramco's Jizan refinery, a significant refining hub with a capacity of 400,000 barrels per day, was struck in a new attack on Monday. The incident, reported by The Financial Times, is similar in scale to a previous strike that temporarily disrupted operations. The refinery's strategic location on Saudi Arabia's Red Sea coast has become increasingly important as the kingdom reroutes oil shipments westward via its East West pipeline to avoid potential disruptions in the Strait of Hormuz. However, operations at Jizan have been impacted, with oil exports reportedly falling sharply in August following an earlier attack. The Houthis, an Iran-aligned group from Yemen, have repeatedly targeted Saudi oil infrastructure, including facilities in Jizan and Yanbu, since fighting resumed this summer. While Aramco's chief executive previously stated that earlier attacks caused only temporary interruptions with no material impact, the repeated targeting raises concerns about the security of this alternative export route. Oil prices were already on an upward trend on Monday, influenced by geopolitical tensions in the Middle East and Iran's proposal for a new shipping corridor through Hormuz.