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Oil prices soar

An attack on Saudi Arabia that shut 5 percent of global crude output triggered the biggest surge in oil prices since 1991, after US officials blamed Iran and President Donald Trump said Washington was “locked and loaded” to retaliate.

The Iran-aligned Houthi movement that controls Yemen’s capital claimed responsibility for the attack, which damaged the world’s biggest crude oil processing plant. Iran denied blame and said it was ready for “full-fledged war”. Two sources briefed on state oil company Saudi Aramco’s operations told Reuters it might take months for Saudi oil production to return to normal.

Source :

The Herald

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