Oil Rises 2% After Attacks on Saudi Infrastructure as Riyadh Stresses Resilience

· Oil & Gas · Saudi Arabia

Oil prices climbed about 2% to their highest levels in nearly two weeks after fresh attacks on Saudi Arabia and on oil tankers near the Strait of Hormuz put Middle East supply risk back at the center of the market. The move outweighed President Donald Trump's announcements of additional Russian diesel supplies and a Russia-Ukraine energy truce. Speaking at the WPC Energy Congress in Riyadh, Saudi Energy Minister Prince Abdulaziz bin Salman insisted the Kingdom's energy resilience remains strong despite recent attacks on its energy and transport infrastructure, saying resilience goes "beyond barrels of spare capacity, of pipelines and gigawatts." Traders are weighing whether the attacks herald a sustained supply disruption or a short-lived risk premium, with the Strait of Hormuz — a key conduit for Gulf crude and LNG — again the focal point.

Why it matters：The Strait of Hormuz remains the single most consequential chokepoint for global crude and LNG, so renewed attacks there drive risk premia and freight and insurance costs across the industry.

Key points

  • Prices hit nearly two-week highs after attacks on Saudi Arabia and tankers near Hormuz
  • Moves came despite additional Russian diesel supplies and a Russia-Ukraine energy truce
  • Saudi energy minister said resilience goes beyond spare capacity and pipelines

Sources (original reporting)

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