Oil Inches Higher as Iran Strikes Kuwait’s Mina Al-Ahmadi Refinery

Kuwait’s Mina Al-Ahmadi refinery was hit by Iranian drones early on Friday in attacks that caused a fire in several units at the facility, as the war in the Middle East shows no signs of de-escalation despite the most recent U.S. and Israeli rhetoric. The refinery, which is located 50 kilometers (31 miles) south of Kuwait City and has the capacity to process 346,000 barrels per day (bpd) of crude oil, came under drone attacks in the early hours of Friday, Kuwait Petroleum Corporation (KPC) said in a statement…