Saudi Air Defences Intercept Drones Targeting Oil Facilities from Iraq

Saudi Air Defences Intercept Drones Targeting Oil Facilities from Iraq

Saudi Arabia’s Defence Ministry announced its air defences intercepted and destroyed drones launched from Iraq. The drones attempted to target critical oil facilities in the kingdom's Eastern Province and Riyadh. This incident, attributed to armed groups in Iraq, raises geopolitical tensions in the Middle East. Increased regional instability or successful attacks on oil infrastructure could push crude oil prices higher, potentially strengthening gold's safe-haven appeal and putting upward pressure on Pakistan's import bill and USD/PKR.

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