A major terrorist attack was thwarted in Saudi Arabia as security official[s] intercepted suicide bombers before they could cause massive damage to a major refinery installation. The Abqaiq processing facility, also known as Buqayq, handles around two-thirds or so of Saudi Arabia's oil output. One group of terrorists did manage to blow up a pipeline at the facility, but the damage was limited. A second vehicle was engaged at the entrance to the facility and blew up without damaging the refinery.
This isn't the first time terrorists have targeted petroleum and energy related targets, but it is the first time that they've attempted to do so within Saudi Arabia. al Qaeda has been looking at attacking energy-related facilities for quite some time - Iraqi pipelines have been frequent targets of the terrorists in Iraq since they affect the country's ability to not only sell oil, but to supply the country's huge demand for power.
Officer's Club has more and notes that a couple of terrorists who might or might not be second raters could affect global oil markets with an attack - the price of oil spiked more than $1 after news of the attack. More expert commentary can be found at the Counterterror Blog.
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