Saudi Aramco temporarily shut down its massive Ras Tanura refinery on March 2, 2026, following a drone strike attributed to Iran, sparking a fire but causing no casualties. The facility, a cornerstone of global oil exports, was closed as a precaution while authorities assessed damage. This incident is part of Iran’s broader retaliation against Gulf targets amid the US-Israel Operation Epic Fury.
Attack Details
The strike hit the Ras Tanura complex on Saudi Arabia’s eastern Gulf coast, with social media videos showing flames and evacuations at the site. Saudi defense officials confirmed two drones were intercepted, with debris igniting a limited fire, but operations were stabilized quickly. An industry source told Reuters the shutdown was precautionary, with no public statement yet from Aramco on resumption timelines or full damage extent.
Facility Importance
Ras Tanura boasts a 550,000 barrels-per-day refining capacity and serves as a primary export terminal for Saudi crude to markets like Asia and Europe. It handles a significant portion of the kingdom’s oil shipments, making it vital to global energy flows. The attack highlights vulnerabilities in Gulf infrastructure, as noted by analysts like Verisk Maplecroft’s Torbjorn Soltvedt, who called it a “significant escalation.”
Market and Regional Fallout
Brent crude futures jumped about 10% on Monday due to the strike and slowed Strait of Hormuz shipping, which carries one-fifth of world oil. Attacks on vessels and facilities have nearly halted traffic through the chokepoint. Iran-linked strikes have also targeted Abu Dhabi, Dubai, Doha, Riyadh airport, and Prince Sultan Airbase, with Saudi condemning the actions as unjustifiable. The IRGC claimed responsibility, dubbing it “opening massive gates of fire” in response to strikes killing Khamenei.
