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Aramco Oil Facility In Jeddah Hit By Houthi Missile

Mohamed Abdelhamid 25 March, 2022 7:46 pm Commodities, Market Update

A Saudi Aramco oil facility located in Jeddah, Saudi Arabia, was hit by a missile launched by Yemen’s rebel Houthi militia on Friday, reports on social media suggested.

A Yemeni Houthi spokesperson later said that the group would be announcing more details on a wide operation in Saudi Arabia later in the day.

The news made oil prices jump higher, with WTI surging back to $112 from around $110 and also weighed on equities, with the S&P 500 dropping about 25 points to 4515 from around 4540.

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