Crude prices climbed more than 5% after satellite imagery detected thick smoke and emergency flaring of 60+ MW across Saudi Arabia's Eastern Province for over 24 hours. The disruption coincides with Hurricane Isaias removing 1.28 million barrels per day from the US Gulf by shutting 63% of regional output. A 2019 attack on Abqaiq previously removed 5 million barrels per day from the market, nearly half of Saudi production at the time.
Tuesday, October 20, 2026
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Aramco's Abqaiq Processing Site Halts Operations After Missile Hit
Commodities11 days ago
A Saudi Aramco employee reported that Yemen's Houthi rebels launched drone and missile attacks against the Abqaiq plant on Oct. 8, prompting the company to stop operations and send staff home. The facility is the world's largest crude oil processing and stabilization plant, handling roughly 7 million barrels per day, or up to 7% of the global crude supply.
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