Saudi Aramco shuts Ras Tanura refinery after drone strike

Saudi Arabia's Aramco has closed its Ras Tanura refinery after a drone attack, according to an industry source on Monday. This action follows strikes from Tehran across the area, which were in retaliation for a U.S.-Israeli assault on Iran. The Ras Tanura facility, located on the Gulf coast of the kingdom, is one of the largest refineries in the Middle East, capable of processing 550,000 barrels per day (bpd). It is also a key export point for Saudi oil. The shutdown was a safety measure, and the situation is reportedly under control, as stated by the source. Aramco has not yet replied to an email seeking comments. This drone strike is part of a series of attacks in the Gulf region, affecting cities like Abu Dhabi, Dubai, Doha, Manama, and the commercial area of Duqm in Oman. These incidents have disrupted major shipping routes in the United Arab Emirates and Oman, leading to a nearly 10% rise in Brent crude futures on Monday. Saudi Arabia's well-protected energy sites have faced attacks before, notably in September 2019, when drone and missile strikes on the Abqaiq and Khurais facilities temporarily halted over half of the country's crude output and caused upheaval in global markets.