Massive fire reported in Saudi industrial city Al Jubail after drone strike

In a major escalation of Gulf tensions, Iran launched ballistic missiles and drones at Jubail Industrial City in Saudi Arabia’s Eastern Province on April 7, triggering large fires across one of the world’s largest industrial hubs.

Jubail, a cornerstone of the Saudi petrochemical and energy sector, spans over 1,000 square kilometers and hosts more than 150 industrial facilities that contribute roughly 7-12 per cent of the country’s GDP.

Videos from the site show massive explosions and flames, underscoring the scale of the attack. The strikes come just hours before the deadline set by US President Donald Trump for Iran to reopen the strategically vital Strait of Hormuz, a critical chokepoint for global oil shipments.

According to Iranian officials, Tehran considers Saudi Arabia, along with Israel, a “main instigator” of the ongoing Gulf tensions. The attack coincides with Iran formally rejecting Washington’s 15-point peace plan, instead proposing a 10-point counter-framework. Iran’s conditions include security guarantees against future attacks, a permanent end to the war, Israeli withdrawal from Lebanon, full US sanctions relief, and reopening the Strait of Hormuz under a $2 million-per-ship transit fee shared with Oman, with revenues directed toward regional reconstruction.

The strike and diplomatic maneuvering have already affected global markets. Early Tuesday saw Bitcoin drop nearly 2 per cent to around $68,500, while Brent crude rose past $111 per barrel. Gold and silver declined slightly, while US equity indices, including the Nasdaq, Dow Jones, and Russell 2000, posted modest gains.

Analysts say the coming hours will be crucial in determining whether Tehran’s aggressive posture leads to a diplomatic breakthrough or triggers the military responses Trump had warned about.