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    MarketForces Africa » Oil and Gas » Iran Targets Saudi Arabia Red Sea Port, Key Refinery

    Iran Targets Saudi Arabia Red Sea Port, Key Refinery

    Olu AnisereBy Olu AnisereMarch 19, 2026Updated:March 19, 2026 Oil and Gas No Comments2 Mins Read
    Iran Targets Saudi Arabia Red Sea Port, Key Refinery
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    Iran Targets Saudi Arabia Red Sea Port, Key Refinery

    The Saudi Defense Ministry said Thursday air defenses intercepted a ballistic missile targeting the Red Sea port of Yanbu and reported a drone impact at a key oil refinery as regional tensions escalate.

    Yanbu has been one of two major export outlets for crude oil out of Gulf countries since Iran closed the Strait of ‌Hormuz in retaliation for US-Israeli attacks.

    A Defense Ministry statement said the ballistic missile targeting the port was shot down, without giving any further details about possible damage or injuries.

    The ministry also said a drone fell at the Aramco-ExxonMobil (SAMREF) refinery in the same city, adding that damage is currently under assessment.

    The ministry earlier said that air defense systems had intercepted and destroyed eight drones launched toward the kingdom, including targets in Riyadh and the Eastern Region.

    The attacks came as the US and Israel have continued a joint offensive on Iran since Feb. 28, killing so far around 1,300 people, including then-Supreme Leader Ali Khamenei.

    Iran has retaliated with drone and missile strikes targeting Israel, Jordan, Iraq, and Gulf countries hosting US military assets, causing casualties and damage to infrastructure while disrupting global markets and aviation. Guinness Nigeria Sees Sharp Intraday Rally After AGM Notice

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    Olu Anisere
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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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