RIYADH, Wednesday, October 28, 2026 — Yemen’s Houthis said on Tuesday they had hit Saudi Arabia’s biggest oil refinery with a ballistic missile, a claim that sent global oil prices sharply higher on Wednesday even though Saudi authorities have not confirmed that the facility itself was struck.
Houthi military spokesman Yahya Saree said the group’s forces targeted the Ras Tanura refinery on the kingdom’s Gulf coast and that the strike had caused a fire at the complex, state media reported. Ras Tanura, operated by Saudi Aramco, processes about 550,000 barrels of crude a day and sits beside one of the world’s most important oil-loading terminals, making any threat to it an immediate concern for energy markets.
Saudi authorities did not immediately confirm a hit on the refinery, and Aramco did not immediately respond to requests for comment, trade sources said. A maritime security agency, Vanguard, reported a fire in the Ras Tanura area that was subsequently contained, while the extent of any damage and any impact on loading operations remained unclear on Wednesday morning.
Oil markets jump as supply fears return
Brent crude futures climbed more than 1 per cent on Wednesday, rising to about $115.40 a barrel, while United States benchmark West Texas Intermediate rose to about $101.30 a barrel, according to market reports. The gains reversed part of Tuesday’s nearly $2-a-barrel fall, when hopes of diplomatic progress had calmed traders.
Analysts said the market was once again pricing in a risk premium for Middle East supply. ING commodity strategists said oil prices remained elevated as traders waited for greater clarity on Washington’s next move toward Iran.
What Riyadh did confirm
What Saudi officials did confirm was a separate chain of events in the capital. Civil Defence said falling debris from the interception of two Houthi ballistic missiles caused material damage in Riyadh to a building, a construction site and a vehicle, and the Saudi-led coalition said it had intercepted and destroyed both missiles aimed at the capital.
Residents in Riyadh received mobile alerts warning them to seek shelter, and Civil Defence briefly issued an air raid alert in the capital on Tuesday afternoon. Correspondents in the city reported hearing explosions, while a resident of Al Khobar, near Ras Tanura, said he had received an alert before hearing a loud bang around dawn, reports said. The coalition separately said its air defences intercepted three ballistic missiles aimed at the Eastern Province and four drones aimed at the kingdom’s southern region.
A wider barrage, and a wider war of claims
The Houthis also claimed to have targeted the Defence Ministry building in Riyadh, two military transport aircraft — one at Najran airport and another at King Khalid Air Base in Khamis Mushait — and Abha airport with a drone, claims Saudi authorities did not immediately confirm. Houthi-run media separately reported Saudi strikes on the Yemeni city of Mocha, figures Riyadh did not immediately confirm.
The exchange comes days after officials from Saudi Arabia, Turkey and Pakistan met Iranian officials in Tehran in an effort to ease regional tensions. Until Saudi Aramco or the Saudi authorities give a fuller account, the refinery claim will remain exactly that — a claim with a very real price tag attached.
