Saudi attacks send oil prices soaring: live updates

There are no plans for a meeting between Iranian President Hassan Rouhani and US President Donald Trump at the sidelines of the United Nations General Assembly next week, Iranian officials said Monday morning.

Although not planned, Mousavi stopped short of ruling out a meeting between the two leaders from ever happening if the US lifted sanctions.

Mousavi again called the US officials blaming Iran for the attack on Saudi oil facilities ‘unacceptable.’

Date: 2019-09-16T09:16:38Z
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Many things are taking place:

U.S. tapping into oil reserves after drone strikes on oil fields in Saudi Arabia

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Behnam Ben Taleblu: Attack on Saudi oil facility shows Trump was right to pull out of Iran nuke deal

The attack, which knocked out more than half of the Saudi oil output, may force the U.S. to tap into its own oil reserves to keep the markets well supplied.

The devastating attack Saturday against a major oil facility in Saudi Arabia dramatically illustrates why the Iran nuclear deal that was accepted by the Obama administration and rejected by President Trump failed to end the Iranian threat to peace and stability in the Middle East.

While the nuclear deal put temporary restrictions on the Iranian nuclear program, it did absolutely nothing to stop Iran’s aggressive conventional and asymmetric military actions against its neighbors and threats against Israel. This is partly why President Trump ultimately withdrew from this deeply flawed agreement.

Publisher: Fox News
Date: 2019-09-15
Twitter: @foxnews
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Column: Will the hard lessons of the Saudi oil attack be learned? – Russell

LAUNCESTON, Australia (Reuters) – The attacks on Saudi Arabia’s oil facilities have done more than knock out some 5% of global crude supplies, they have provided a myriad of lessons for all involved.

There is still a high level of uncertainty as to who, what and how exactly Saturday’s attacks were carried out on Saudi Aramco’s facilities, including the massive crude processing plant at Abqaiq.

But what is certain is that 5.7 million barrels per day (bpd) of production has vanished and geopolitics is back driving the oil market.

This renewed risk was reflected in early price moves on Monday in global benchmark Brent crude futures, which surged as much as 20% in early Asian trade, reaching a peak of $71.95 a barrel before easing back to around 13% higher at $68.22.


Publisher: U.S.
Date: 2019-09-16T02:06:48+0000
Author: Clyde Russell
Twitter: @Reuters
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Saudi attack to send oil prices soaring

Drone strikes on Saudi Arabia’s energy infrastructure claimed by Yemen’s Iran-backed’ Houthi rebels have sent oil prices soaring on Monday in another blow to stability in the Gulf region.

Saudi Aramco confirmed more than 5 million barrels of oil production a day would be immediately lost, equivalent to 5 or 6 per cent of global supply. Videos for Saudi Attacks Send Oil Prices Soaring : 5:09 Oil prices soar after attack on Saudi Arabia oil facilities CNBC Mike Pompeo, the US Secretary of State, accused Iran of the “unprecedented” rebel attack on “the world’s energy supply”.

In a scenario that echoes Vale’s Brazilian tailings dam collapse in January, and which sent iron ore to a five-year high, investors are expecting shares of energy producers to rally on Monday when trading re-opens.

Publisher: Australian Financial Review
Date: 2019-09-15T13:59:00Z
Twitter: @FinancialReview
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