Aramco Shuts Jizan Refinery After Houthi Attack, Fuel Supplies Tighten

Saudi Aramco's 400,000 barrel-per-day Jizan oil refinery ceased operations on July 27 following a Houthi militant attack, with repairs expected by August 15. This shutdown intensifies pressure on already tight global fuel markets, which are grappling with Middle East disruptions and Russia's diesel export ban. Refining profit margins have surged to record highs, reflecting the critical impact of this outage on diesel and naphtha supplies. This development could support international crude oil prices, potentially influencing global inflation and Pakistan's import costs, which might indirectly affect local gold and currency rates.

بحوالہ / Source: www.brecorder.com