Monday 8 March 2021

Key #Saudi Arabian Oil Site Attacked, Sending Brent Above $70 - Bloomberg video

Key Saudi Arabian Oil Site Attacked, Sending Brent Above $70 - Bloomberg



Witnesses in the coastal city of Dhahran, where Aramco is also headquartered, reported an explosion rocking the city, and windows shaking. Ras Tanura is about an hour by car up the coast.

“Both attacks did not result in any injury or loss of life or property,” a spokesman for the Saudi Energy Ministry said. Two people familiar with the situation also said oil output was unaffected, and on Monday loading in the Ras Tanura area was continuing, with tankers docking on the north pier and sea islands.

Brent crude rose as much as 2.9% to $71.37 a barrel on Monday, before paring gains. Oil had already received a boost from an OPEC meeting last week, when ministers agreed to keep a tight leash on supply.

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