Houthis reportedly attacked oil facilities in Yanbu on the Red Sea with a large number of ballistic missiles and drones; satellites showed several giant oil storage tanks at the Al-Mu'ajiz terminal in southern Saudi Arabia ablaze, Al Akhbar reports

Past episodes of this kind have tended to follow a sequence: an initial gap higher in front-month crude, then a fade once repair timelines and the size of actual throughput loss emerge, since the kingdom's spare capacity, storage drawdown capability and rapid repair record have repeatedly shortened the shelf life of such premiums. The case distinction that matters here is between damaged storage, which is replaceable from inventories and tends to be absorbed, and damaged processing or loading infrastructure, which constrains actual export capability and sustains the bid. Yanbu on the west coast also carries a separate freight and insurance dimension, given the existing disruption to Red Sea transit, so tanker rates and war-risk premia are a parallel transmission channel to outright crude. A declared target bank spanning multiple Aramco sites signals intent for a campaign rather than a one-off, and prior form with this actor is that stated target lists have been followed by further attempts, which keeps the premium stickier than after isolated strikes. Worth watching next: Aramco's confirmation of damage and any force majeure language, Saudi official statements on export continuity, and whether the follow-on tranche of targets is named or struck.