On Sunday, an administrative building of Saudi Aramco in Riyadh was damaged by falling debris following an attempted missile attack, although no injuries were reported. The Energy Ministry confirmed that the damage was limited, but the incident underscores the heightened risk to Saudi Arabia's oil infrastructure amid escalating hostilities with Yemen's Houthi forces.
Earlier that day, the Saudi-led coalition intercepted two missiles aimed at Riyadh, coinciding with multiple loud explosions heard in the city. This attack follows a series of increased missile and drone strikes by the Houthis on Saudi targets since July, which have disrupted the fragile peace established by a UN-brokered truce in 2022.
The Eastern Province, where Aramco's headquarters is located, is crucial for the kingdom's oil and gas reserves, making these developments particularly concerning for investors. The ongoing conflict, which has seen Saudi airstrikes in Yemen and retaliatory attacks from the Houthis, poses risks to the stability of oil supplies and could influence global oil prices