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Commodities

Saudi Aramco facilities hit as oil prices rise

Saudi Aramco facilities at Jizan, near the Yemeni border, were hit in new strikes attributed in reports to Houthi rebels. West Texas Intermediate and Brent crude prices rose toward seven-week highs after news of the attack. The available RSS material does not specify damage, casualties, production losses or the precise effect on exports.

Why it matters

Any disruption to Saudi production could intensify pressure on an already constrained global oil market.

Sources

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