Iran Strikes Saudi Red Sea Refinery as Oil Threats Escalate

The Samref refinery in Saudi Arabia’s Red Sea coastal city of Yanbu was the target of an aerial attack early on Thursday, with minimal impact on operations, an industry source told Reuters, as Iran is following through on its threats to target energy infrastructure across the Gulf. The Samref refinery, a joint venture of Saudi oil giant Aramco and U.S. supermajor ExxonMobil, has the capacity to process about 400,000 barrels per day of crude into gasoline, jet fuel, diesel, marine fuel oil, propane, and sulfur. A total of 35% of the production…