Trump Says the U.S. Is Locked And Loaded, while Saudi Oil Attack Roils Global Energy Markets

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Saudi oil attack has rocketed higher after the weekend attack on oil facilities in Saudi Arabia. The attack has disrupted more than 5% of the daily world supply. Trump says that he had reasons to believe that they know the culprit behind the attack.

The attacks on the Abqaiq facility, which is the world’s largest petroleum processing plant will affect global supplies. Saudi oil attack has destructed more than half of the kingdom’s oil output.

Trump says the U.S is locked and Loaded about the attack, and they are waiting for the Saudi as to who they believe was the cause of this attack. It is the first time the president American Military responses.

Saudi Oil Attack Roils Market
Saudi Oil Attack on Saturday

The United States government released satellite images that show the extent of destruction at the Abqaiq oil processing plant. The plant produces about 5.7 million barrels of oil each day. They also suggested the attack originated in Iran or Iraq rather than Yemen, Where Saudi is fighting with Iran backed Houthi rebels.

Iran has rejected accusations that it was not behind the attack that disabled about half of oil production. Trump has tweeted that the U.S is locked and loaded depending upon the verification.

Trump Says the U.S. Is Locked And Loaded, Saudi Oil Attack

U.S officials say that evidence from September 14th attack shows that Iran was behind it, not the Yemeni Huthi group that claimed responsibility. While Washington is quick to point, other countries urged restraint until the picture surrounding the attack, carried out by drones, is clearer.

The US secretary of Mike Pompeo stated that attack is from Iran and claims it as Yemen’s Iran aligned Houthi rebel group. In return to claim the Iran foreign ministry spokesman Abbas Mousavi commented on Pompeo’s that such fruitless and blind accusations and remarks are incomprehensible and meaningless. Iran officials have also warned the US military assets in the region are within range of their missiles.

Houthi rebels claim the Saturday’s attack, which they said carried out using drones, though the scale of destruction indicates that cruise missiles may also use. The satellite photos showing at least 19 points of impact at two Saudi energy facilities. That including damage at the heart of the Kingdom’s important oil processing plant at Abqaiq. Officials told US media that Saudi Oil attack photos show impacts consistent with the attack coming from Iran and Iraq.

Abqaiq Attack Roils Global Energy Markets

The US officials also say additional devices, which did not reach their attack targets, recovered in the northwest. Saudi and American Intelligence are jointly analyzing them. The officials who known about weapons condition to discuss intelligence matters did not discuss them. Whether the weapons could have been fired in Yemen, then take a round-about path, but did not explicitly rule it out.

Oil prices have risen after the attack, reached six-month highs on Monday, with gains of as much as 20 %. The Brent oil gained almost $12 to $71.95 per barrel before dropping to $68 a barrel.

Saudi Oil attack will affect globally on the supply of the oil. Brent crude oil, an international gauge, surged nearly 20 % when markets in Asia. Which opened before settling down to about a 10% spike as trading continues. United States benchmark West Texans crude oil was up around 9%. The United States gasoline and heating oil were up over 8% and 7% respectively.

Saudi Oil Attack

There are no casualties, but the full extent of damage from the Saturday attack was not clear, nor the type of weapons. The reporters kept away from the plants amid beefed-up security.

Aramco, also said that they would recover the damage soon. The CEO Amin Nasser says that work is underway to get back the production. But Saudi oil attack may affect investor confidence ahead of Aramco’s debut in the stock market. A good volume of oil production can resort within days, but the company needs weeks to reach full production again. Also read about Trump Administration Revoke Clean Water Protections

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