Houthi Drone And Missile Attack Strikes Saudi Oil Facilities

#BREAKING #Iran-backed Houthis are launching a ballistic missile attack targeting Saudi Arabia's Eastern Province.
-Saudi air defense units are reportedly engaging targets.
-Initial unconfirmed reports suggest one impact possibly at Aramco oil facility.pic.twitter.com/lxgEeRny8p
— Heshmat Alavi (@HeshmatAlavi) March 7, 2021

Saudi oil tanks in Ras Tanura Port hit in drone attack and Aramco facilities targeted with ballistic missile —energy ministry statement https://t.co/KttTG8DHc1
— Ahmed Al Omran (@ahmed) March 7, 2021

Zero Hedge: Brace For Oil Surge: Saudi Oil Tank In Ras Tanura Port Hit In Houthi Drone Attack

It's not as if oil - the best performing class of 2021 - behind bitcoin of course - needed any more reasons to surge higher (for the latest tally please read "Saudis + Commodity Funds = Energy Stock Explosion"), but it got it moments ago when Saudi Arabia said that it had intercepted missiles and a barrage of drones launched from neighboring Yemen and which targeted Dhahran, where Saudi Aramco, the world’s biggest oil company, is headquartered, which eyewitnesses said was rocked by an explosion.

According to Bloomberg which quotes witnesses on the ground, the blast shook windows in Dhahran, which hosts a large compound for Aramco employees.

Read more ....

Update: Yemen's Houthis say fired drones, missiles at Saudi oil facilities, military sites (Reuters)

WNU Editor: The oil price is rapidly increasing .... Oil prices vault towards $70 as the OPEC-fueled crude rally continues (World Oil).

My gut tells me that the major oil producers want $100/barrel .... Saudis Raise Crude Prices to Asia, U.S. as OPEC+ Extends Cuts (Bloomberg).

Update #2: I agree with this analysis .... Biden put a target on the back of the Saudis for the Iranians to hit. The Iranians know that Biden is tilting toward them and they intend to exploit the advantage fully.