This morning, energy facilities in four cities in southern Saudi Arabia caught fire simultaneously—Abha, Jazan, Khamis Mushait, and Najran. The Houthi forces carried out large-scale attacks, leaving 73 people injured, including women and children, and some facilities halted operations.
Jazan has a 400,000 barrels-per-day refinery, one of Saudi Arabia’s largest refineries.
The timing of this is especially tricky:
The US and Iran have just been discussing a ceasefire framework, yen carry-trade unwinds are underway due to a sharp rise in the yen, and tomorrow’s CPI is the most important inflation data of the year—today’s news brings everyone’s attention back to "energy supply risk".
Brent faces upward pressure today. If the Jazan refinery is shut down for more than a week, $90 will be back on the table for discussion.
For BTC: energy shock → a jump in inflation expectations → the probability of a September rate hike continues to move higher from current levels → non-interest-bearing assets face short-term pressure.
The most important thing today isn’t the attack itself—it’s how the market will price this uncertainty ahead of tomorrow’s CPI release.
$BTC
$CL
#沙特南部能源设施遇袭停运
Jazan has a 400,000 barrels-per-day refinery, one of Saudi Arabia’s largest refineries.
The timing of this is especially tricky:
The US and Iran have just been discussing a ceasefire framework, yen carry-trade unwinds are underway due to a sharp rise in the yen, and tomorrow’s CPI is the most important inflation data of the year—today’s news brings everyone’s attention back to "energy supply risk".
Brent faces upward pressure today. If the Jazan refinery is shut down for more than a week, $90 will be back on the table for discussion.
For BTC: energy shock → a jump in inflation expectations → the probability of a September rate hike continues to move higher from current levels → non-interest-bearing assets face short-term pressure.
The most important thing today isn’t the attack itself—it’s how the market will price this uncertainty ahead of tomorrow’s CPI release.
$BTC
$CL
#沙特南部能源设施遇袭停运
