Oil Prices Approach $100 After Attacks Hit Saudi Energy Facilities

Oil prices rose toward $100 a barrel on Tuesday after attacks on energy facilities in southern Saudi Arabia forced a temporary halt to some operations and raised fresh concerns about disruptions to Middle East oil supplies.

Saudi Arabia said several energy-sector facilities and installations in the southern region bordering Yemen were targeted on Tuesday morning.

The attacks sparked fires at several locations, according to the Saudi Press Agency, which cited an official source at the Energy Ministry.

Specialized field teams were working to contain the fires, secure the sites and assess the damage, the ministry said.

Several residents were injured, although Saudi authorities did not identify the facilities targeted or specify the operations that were suspended.

“Authorities are continuing to address the repercussions of the attacks,” the ministry said, adding that measures were being taken to protect facilities and personnel and maintain operations under approved contingency plans.

The attacks came a day after the Iran-aligned Houthi movement targeted Saudi Arabia’s Jazan oil refinery on the Red Sea coast, according to reports.

The 400,000-barrel-per-day refinery has been targeted several times since July.

The Houthis, who control large parts of Yemen, have also threatened shipping linked to Saudi Arabia in the Red Sea and the Bab el-Mandeb Strait, raising concerns over the security of a key route for global energy supplies.

Saudi Arabia has been moving more crude through its western facilities and export routes as disruptions around the Strait of Hormuz have intensified.

Oil markets have already been under pressure from escalating tensions between the United States and Iran and growing concerns about the security of energy infrastructure and shipping routes in the region.

Brent crude was trading near $99 a barrel in Asian hours on Tuesday, at around $98.70, while U.S. West Texas Intermediate crude rose 2.89% to about $94.12 a barrel.

The latest attacks add to uncertainty over the outlook for regional oil production and exports, with investors watching closely for any further damage to Saudi facilities or wider disruptions to Middle East supply.