Saudi Oil Facility Attack: What It Means for You [hepdULLrhXB]
Drones hit Saudi Arabia's Abqaiq oil facility on July 27, the world's largest crude oil plant. Here's why it could raise gas prices everywhere. On July 27, drones struck Abqaiq, Saudi Arabia's biggest oil processing plant. It handles between five and seven percent of the world's oil supply. Fires broke out across the site, and satellites caught the flames from space. Saudi Aramco, the company that runs the plant, shut the whole facility down. That pulled about seven million barrels of oil a day off the market. Nobody agrees yet on who's responsible. Saudi Arabia blamed Iran-backed fighters in Iraq. Yemen's Houthi rebels claimed the attack too, calling it payback for Saudi strikes on Yemen. Saudi Arabia hit back at Houthi sites the same day. This comes after months of fighting between Iran and the US, and after an earlier attack on another Saudi refinery back in March. Less oil on the market usually means higher prices at the pump, and that can push up the cost of food and shipping too. A major insurer has even pulled back on covering tankers near Saudi Arabia. This video breaks down what happened and why it could touch your wallet. Follow The Short Why for more news explained simple. #SaudiArabia #OilPrices #GlobalNews #Shorts #News