Saudi Arabia’s key port of Yanbu has stopped loading oil, Reuters reported on 19 March, citing two sources, after the country’s Defence Ministry said it had intercepted a ballistic missile over the city.
Earlier on 19 March, an airstrike targeting Saudi Aramco’s SAMREF refinery in the port of Yanbu was reported, although industry sources said the impact was minimal.
The attacks came after Iran warned to evacuate energy facilities in Saudi Arabia, the United Arab Emirates and Qatar following an Israeli strike on Iran’s South Pars gas field.
Yanbu is a critical export hub on the Red Sea and a major alternative for Persian Gulf oil supplies amid Iran’s virtual closure of the Strait of Hormuz, a route that normally carries about a fifth of the world’s fuel supplies.
The port of Fujairah in the UAE, another key point, was also hit by the strikes.
Strikes across the region, particularly damage to Qatar’s liquefied natural gas hub of Ras Laffan, have heightened concerns about the security of energy supplies.
Following the Iranian strikes on Ras Laffan and amid threats of more attacks, the price of Brent crude jumped seven per cent to more than $115 a barrel, while US crude briefly topped $100. European gas prices rose more than 30 per cent.
Israel and the US have been striking Iran since 28 February. U.S. President Donald Trump said the goal of this war-destroying Iran’s military capability and preventing Tehran from developing nuclear weapons. Iran has been striking Israel and countries in the region that co-operate with the US. At the same time, Axios wrote that the US asked Israel not to attack Iran’s energy infrastructure.