Mar. 21 at 9:34 PM
$SPY $QQQ $XLE $USO $CL_F The company’s CEO, Amin Nasser, announced this week that the kingdom was ramping up its operations to maximize oil exports from the western port. The port is connected to the main oil fields at Abqaiq by a 750-mile pipeline stretching across the Saudi desert. Nasser said that within a matter of days, they would hit the maximum daily capacity of approximately 7 million barrels.
As this massive effort builds momentum, security consultants Diaplous issued an alert saying the risk is elevated for a potential strike targeting Yanbu. Citing third-party and internal sources, it writes, “Current indications suggest a credible threat involving USV (sea drones), UAVs (aerial drones), missiles, or other forms of attack.”
Beyond the security concerns at the terminal, the tankers will have to transit the Bab al-Mandeb both to reach Yanbu and then laden to exit the Red Sea. The Houthis so far have not acted but have threatened to resume their attacks supporting Iran.
