Yemen's Houthi forces fired drones and missiles at the heart of Saudi Arabia's oil industry, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports, in what Riyadh called a failed assault on global energy security.
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The Saudi energy ministry said there were no casualties or loss of property from the attacks.
The defence ministry said it intercepted an armed drone coming from the sea prior to hitting its target at an oil storage yard at Ras Tanura, site of a refinery and the world's biggest offshore oil loading facility.
Shrapnel from a ballistic missile fell near a residential compound in Dhahran used by state-controlled Saudi Aramco, the world's biggest oil company, the ministries said.
The attacks drove Brent crude prices above $US70 a barrel to their highest since January 2020, while US crude futures touched their loftiest since October 2018.
Announcing the attacks, the Houthis, who have been battling a Saudi-led coalition for six years, also said they attacked military targets in the Saudi cities of Dammam, Asir and Jazan.
"Such acts of sabotage do not only target the Kingdom of Saudi Arabia, but also the security and stability of energy supplies to the world, and therefore, the global economy," a Saudi defence ministry spokesman said in a statement on state media.
The Saudi-led coalition earlier said it intercepted 12 armed drones aimed at "civilian targets" without specifying a location as well as two ballistic missiles fired towards Jazan.
Houthi military spokesman Yahya Sarea said on Sunday that the group had fired 14 drones and eight ballistic missiles in a "wide operation in the heart of Saudi Arabia".
The Houthis recently stepped up cross-border attacks on Saudi Arabia at a time when the United States and the United Nations are pushing for a ceasefire to revive stalled political negotiations to end the war.
The military alliance intervened in Yemen in March 2015 after the Houthis ousted the Saudi-backed government from power in the capital, Sanaa. The conflict is widely seen in the region as a proxy war between Saudi Arabia and Iran.
Earlier, the coalition said it conducted air strikes on Houthi military targets in Sanaa and other Yemeni regions on Sunday and warned that "civilians and civilian objects in the Kingdom are a red line".
In February, US President Joe Biden declared a halt to US support for offensive operations by the coalition but said the United States would continue to help Saudi Arabia defend itself.
Australian Associated Press
