Saudi Aramco shut down Ras Tanura refinery after Iranian drone attack

• Saudi Aramco halted operations at its massive Ras Tanura refinery—a 550,000-barrel-per-day facility—following a retaliatory Iranian drone strike that sparked a fire and marked the first direct assault on Gulf energy infrastructure during the current conflict.
• Global Market Shock: The attack, alongside drone strikes on three tankers in the Strait of Hormuz, caused Brent crude prices to spike by 9% (stabilizing at $77.51), as the targeting of this critical export terminal threatened nearly 20% of the world's daily oil supply.

Saudi Arabia's state-owned oil company, Aramco, has temporarily halted operations at its Ras Tanura refinery following a drone strike attributed to Iran, amid escalating regional tensions triggered by joint US-‘Israeli’ military actions against Iran.

Industry sources confirmed to media outlets that a small fire erupted at the facility but was swiftly contained, with the shutdown implemented as a precautionary measure to evaluate potential damage.

The Ras Tanura complex, located on Saudi Arabia's Gulf coast, is one of the Middle East's largest refineries, boasting a processing capacity of 550,000 barrels per day.

It also serves as a vital export terminal for Saudi crude oil, making it a critical component of global energy supply chains.

This marks the first direct Iranian assault on Gulf energy infrastructure during the current conflict, raising concerns about further disruptions to oil exports from the region.

The drone attack is part of Iran's broader retaliatory campaign following US and ‘Israeli’ strikes on Iranian targets, which resulted in the death of Supreme Leader Ayatollah Ali Khamenei.

Tehran has launched missile and drone strikes across multiple Middle Eastern countries, including the United Arab Emirates, Kuwait, Bahrain, and Qatar.

Explosions have been reported in Dubai and Doha, with damage to infrastructure such as airports and ports.

In addition to the refinery incident, at least three oil tankers in the Strait of Hormuz were targeted by drones, severely impacting a waterway that handles approximately one-fifth of global oil supplies.

Global oil markets reacted sharply to the developments, with Brent crude prices surging by up to 9% before stabilizing at around $77.51 per barrel, reflecting a nearly 7% daily increase.

Saudi authorities have described the fire as isolated and under control, emphasizing that no casualties were reported at the Ras Tanura site.