Saudi Arabia crude terminal attacked, oil prices surge

Saudi Arabia's most protected crude oil site was attacked by Yemen’s Houthi rebels that fired drones and missiles.

The assaults on Saudi Aramco facility, the world’s biggest offshore oil loading facility has sent oil prices above $70. The site attacked, Ras Tanura is the world’s largest oil terminal, capable of exporting nearly 7% of oil demand

The rebel group fired 14 drones and eight ballistic missiles across the border but Saudi Arabia has confirmed there were no casualties or hit to oil production.

The attacks are the most serious against Saudi oil sites in nearly two years.

In retaliation reports indicate Saudi-led military coalition conducted air raids on Houthi military targets in Sanaa .