Ben Geman
A Saudi oil refinery — one of the world's largest — suffered "limited" damage overnight from an Iranian attack, per the kingdom's press agency and multiple news reports.
Why it matters: "The attack on Saudi Arabia's Ras Tanura refinery marks a significant escalation, with Gulf energy infrastructure now squarely in Iran's sights," Torbjorn Soltvedt, a top analyst with risk intelligence firm Verisk Maplecroft, said in a note.
The overall conflict — which included new strikes in Qatar — will push up U.S. gasoline prices, though the amount and duration depends on how high oil prices climb and for how long.
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