U.S. President Donald Trump said on Monday said it looked like Iran was behind attacks on oil plants in Saudi Arabia but stressed he did not want to go to war, as the attacks sent oil prices soaring and raised fears of a new Middle East conflict.
The style of attack used against oil plants in Saudi Arabia that knocked out half of the country's production on Saturday is unlikely to be a risk in the United States, energy and security experts say.
Amid a flurry of Twitter posts on Monday morning, U.S. President Donald Trump turned to the weekend attack on Saudi Arabia’s oil facilities and assured his audience the United States had become such a big producer it no longer needed oil from the Middle East https://twitter.com/realDonaldTrump/status/1173560246863876096.
There are fears of escalating tensions in the region as Iran is blamed for strikes on oil facilities.
President Donald Trump told reporters Monday that "it's looking like" Iran was behind this weekend's attack on oil facilities in Saudi Arabia but suggested it was too early to say for sure. He also said he was "not looking to get into new conflict, but sometimes you have to."
As questions swirl over the Saudi oil attacks, all eyes are on the Middle East to see if tensions finally boil over.
Attacks on Saudi oil plants will not have much impact on U.S. oil production in the short term, Chevron Chief Executive Michael Wirth told CNBC in an interview on Monday.
U.S. President Donald Trump on Monday said it looked like Iran was behind attacks on oil plants in Saudi Arabia at the weekend that raised fears of a fresh Middle East conflict, but added that he did not want war with anyone.
Saudi Arabia has tried to reassure the world that it will quickly recover from the drone attacks on its oil plants.
Oil prices soared on Monday after attacks on crude facilities in Saudi Arabia cut the kingdom's production in half and sparked worries over the impact of an oil shock on economic growth, halting a positive run in world stock markets as investors reached for less-risky assets.
Saudi Arabia said on Monday that the attack on its oil facilities was carried out with Iranian weapons, according to a preliminary investigation, but stopped short of directly blaming regional foe Iran.
Trump says 'we pretty much know' but he wants to know 'definitely' who was behind the Saudi Arabian oil plants attacks.
U.S. President Donald Trump on Monday downplayed the impact of a spike in oil prices in the wake of the attacks on Saudi oil plants, saying prices had not risen much and that the United States and other countries could offset the increase by releasing more supply.
Energy stocks spiked while Wall Street's three major indexes lost ground on Monday after weekend attacks on Saudi Arabia's oil facilities added to investors' concerns about geopolitical risk and a slowing global economy.
U.S. President Donald Trump said on Monday that it looked like Iran was responsible for attacks over the weekend on Saudi Arabian oil plants, but he was in no rush to respond and was still trying to find out who was behind the strikes.
After this weekend's attacks on the world's largest oil processing plant, the questions are simple: Who did it, from where and what will the response be?
U.S. Senate Majority Leader Mitch McConnell blamed Iran on Monday for the weekend attack on a Saudi Arabian oil facility and called for an international response.
Oil ended nearly 15% higher on Monday, with Brent logging its biggest jump in over 30 years and a record trading volumes, after an attack on Saudi Arabian crude facilities cut the kingdom's production in half and intensified concerns of retaliation in the Middle East.
Members of the U.S. Congress blasted Iran after the attack on Saudi Arabian oil facilities, but expressed wariness about U.S. military action, especially before they have a clearer picture of who was behind it.
Saudi Arabia will invite international experts including from the United Nations to participate in investigating an attack on its oil facilities and called on the world to condemn those behind it, its foreign ministry said on Monday.
U.S. crude export demand at the Gulf Coast surged on Monday, traders said, as the window to export crude profitably to Asia and Europe was thrown open after attacks on Saudi Arabia's oil facilities took out 5% of global oil supplies.
An attack on Saudi Arabia that triggered the biggest jump in oil prices in almost 30 years was carried out with Iranian weapons, a Saudi-led coalition said on Monday, as President Donald Trump said the United States was "locked and loaded" to hit back.
New US ambassador makes clear that Washington believes the Houthis did not stage the attacks alone.
Energy stocks spiked while the rest of Wall Street fell on Monday after weekend attacks on Saudi Arabia's oil facilities added to investors' concerns about geopolitical risk and a slowing global economy.
U.S. Defense Secretary Mark Esper said on Monday the recent attack on Saudi Arabian oil facilities was "unprecedented" and the United States, along with its allies, was working to defend the "international rules-based order that is being undermined by Iran."
Oil prices jumped on Monday after attacks on crude facilities in Saudi Arabia sliced the kingdom's production in half and sparked worries over the impact of an oil shock on economic growth, halting a positive run in world stock markets as investors reached for less-risky assets.
Russia is ready to help Saudi Arabia following attacks on the Saudi oil industry if needed, Russian President Vladimir Putin said after talks with leaders of Turkey and Iran in Ankara on Monday, and proposed Russian weapons for purchase.
An attack on Saudi Arabia's Aramco oil facilities was a reciprocal measure by "Yemeni people" to assaults on this country, said Iranian President Hassan Rouhani on Monday, hours after a Saudi-led coalition said the attacks were carried out with Iranian weapons.
Shares of U.S. energy companies surged on Monday, as a jump in oil prices in the wake of attacks on Saudi Arabia's oil facilities gave new juice to a sector that has been a chronic underperformer.
The attacks on Saudi oil facilities on Saturday will drive up fuel prices worldwide in the world's largest outage in 50 years. Here's what it could mean for consumers.
U.S. stocks fell on Monday on global growth worries after weekend attacks on Saudi Arabia's crude facilities hit 5% of the world's supply, but a sharp surge in crude prices lifted beaten-down energy stocks and kept losses in check.