Saudi Aramco Ras Tanura Refinery Closure After Drone Strike Raises Oil Supply Concerns

Saudi Aramco Ras Tanura refinery closure has created fresh concerns about oil supply in the Gulf region. The shutdown happened after a reported drone strike targeted the Ras Tanura complex in Saudi Arabia.

According to an industry source, Saudi Arabia’s state oil company Saudi Aramco closed the refinery as a precaution. The situation is said to be under control.

The Ras Tanura complex is located on the Gulf coast of Saudi Arabia. It houses one of the largest oil refineries in the Middle East.

The refinery has a production capacity of about 550,000 barrels per day. It also works as a key export terminal for Saudi crude oil shipments.

The drone strike came after rising tensions in the region. Iran launched attacks across different areas following a reported US-Israeli strike on its territory.

The wave of attacks affected several Gulf cities. These include Abu Dhabi, Dubai, Doha, Manama, and the commercial port area of Duqm in Oman.

Shipping hubs in the United Arab Emirates and Oman faced disruptions. Oil markets reacted quickly to the news.

Brent crude futures saw a sharp rise of nearly 10 percent on Monday. Traders showed concern over possible supply disruptions from the Gulf.

So far, Saudi Aramco has not issued an official public statement regarding the incident. However, sources say the refinery closure was a preventive step.

The Saudi Aramco Ras Tanura refinery closure highlights the growing security risks facing energy infrastructure in the region. Markets are now closely watching further developments.