Saudi Aramco halts 400,000 barrels-per-day refinery in Jazan after Houthi attacks; Trump reports ongoing Iran negotiations.
Macro & Markets ·
Saudi Aramco has shut its Jazan refinery, which processes 400,000 barrels per day, following a Houthi strike that damaged storage tanks and power systems at the facility. The company is targeting August 15 for a restart of operations.
The attack marks a continued escalation in strikes against Saudi energy infrastructure. Houthi attacks on oil facilities have periodically disrupted regional supply, and damage to both storage and electrical systems suggests the strike was designed to inflict sustained operational impact rather than cause isolated harm.
It remains unclear whether the August 15 restart timeline will hold, whether additional damage assessments may extend the outage, or what broader supply implications the shutdown may carry for global crude markets during the resumption period.