Yemen's Rebels Step Up Attacks on Aramco Oil Facilities

[Stormysaga + 62]

Yemeni rebels are increasingly targeting Saudi Arabian oil facilities, threatening the kingdom’s economic engine and adding another layer of geopolitical tension that is helping push oil prices to their highest levels since 2014.

[Adam Varga + 123]

The Houthis say they have attacked Aramco installations using missiles and drones at least eight times since the beginning of March.

[LAOIL + 33]

The targeting of Aramco facilities is among the reasons that oil is trending toward $75 a barrel. 

[jose chalhoub + 388]

I definitely think that this is the main reason and will continue to be as the main geopolitical risk premium for oil prices spike and if we add also any potential instability in the Eastern Province, where prominent oil facilities are located in saudi arabia then the spike will be greater when saudi is advancing major reforms and ahead of decisions by the White House regarding the Iran nuclear deal where Tehran if the deal is scrapped will feel it can do whatever it feels like and go ahead with further moves against saudi kingdom. definitely an explosive situation for global oil markets. 

[Stormysaga + 62]

Good point @jose chalhoub, explosive situation for global oil markets indeed.

 "Even a moderately successful attack could have implications for the Saudi oil industry, oil markets and the Saudi budget. The government is expecting to make about $131 billion this year from oil, accounting for half of its budgeted spending."

[jose chalhoub + 388]

Yes and this definitely will make the party for MbS in reforming and modernising saudi economy bitter if an event of this magnitude happens, say a heavy attack against the port of Ras Tanoura, against Ghawar field (already had been an attack against a saudi flagged oil tanker a couple weeks ago i believe) and also link this with the recent findings in Bahrain of oil reserves the implications also for saudi crown being it a close ally of the Al Sauds, taking into consideration the recent incident in a BAPCO operated pipeline dubbed by bahraini authorities as a terror attack by Iran, then you have the most perfect explosive cocktail for Saudi Arabia if iran for example decides to up the ante against its rival.

[TraderTate + 186]

Bet MBS is really regretting his foray into Yemen now more than ever. It's a proxy war he really can't afford right now. 

[Royalblood + 14]

the other problem with Yemen is that cargoes go through here and they're not safe anymore. 

[Rodent + 1,424]

But do we really believe that the Houthis have attacked Saudi Arabia as many times as they say they have? 

[Jvp + 3]

Been been following reading the site for a while now  a friend of mine showed   me we have Investments in oil can't wait to join some of the discussions. Thank you

Edited April 26, 2018 by Jvp
Talk to text sometimes doesn't work so well

[Stormysaga + 62]

Welcome aboard, @Jvp. Look forward seeing you within the community!

[CMOP + 227]

13 hours ago, Jvp said:

Been been following reading the site for a while now  a friend of mine showed   me we have Investments in oil can't wait to join some of the discussions. Thank you

Looking forward to your expertise and insight. Welcome. 

[Tom Kirkman + 8,860]

If Houthi missiles actually strike Aramco refineries or O&G assets within KSA, then the bets are off for an Aramco IPO.

[Antar + 1]

What is the crude oil price today in Dubai area 

[Rabka + 2]

Looking forward to the conversations and discussions

[jose chalhoub + 388]

On 25/4/2018 at 5:36 PM, TraderTate said:

Bet MBS is really regretting his foray into Yemen now more than ever. It's a proxy war he really can't afford right now. 

As far as i can remember this tougher stance against Yemen was part of King Salman ever since he was crowned as new king of saudi arabia. MBS is just assuming a war that he might not be so much endorsing..