09-15-2019, 10:09 PM
** 15-Sep-2019 World View: Mideast tensions rise after attack on Saudi oil facilities
After the attack on Saudi Arabia's oil facilities, oil prices have
spiked by the biggest one-day percentage on record, as oil markets
open in Asia on Monday morning. There was an initial surge of about
18%, but they've leveled off to around 12% after the US and Saudi
Arabia said that it would release some stockpiled reserves. Donald
Trump issued this tweet:
The Saudis claim that they will partially repair the damage from the
attack within a day or two, but even if that turns out to be true,
it's still not known how long it will be before the Saudis are
operating at full capacity again.
Iran denies responsibity for the attack, but it's generally believed
that Iran is responsible, and this is the sixth attack on Saudi oil
facilities in the last four months.
Debka, which sometimes gets things wrong, reports that US intelligence
has determine that the attack vehicles were not drones launched from
Yement, but cruise missiles launched fro Iraq:
Trump appears to be preparing a military response to the series
of Iranian attacks. He tweeted this:
Trump recently canceled an attack on Iran at the last minute,
but he may follow through this week.
Tensions are also rising for another reason. The sharp rise in
oil prices is going to hurt Asian economies, including China,
which receives half of its imported oil from Saudi Arabia.
Even if the gap in oil supplies is filled with stockpiles and
reserves, the concern is that Iran is going to continue attacking
Saudi oil targets.
---- Sources:
-- Brent crude oil jumps more than 11% after drone strikes disrupt
Saudi crude production
https://www.cnbc.com/2019/09/15/us-crude...ction.html
(CNBC, 15-Sep-2019)
-- US intel suspects Iranian cruise missiles hit Saudi oil facilities
from Iraq base
https://www.debka.com/us-intel-suspects-...iraq-base/
(Debka, 15-Sep-2019)
-- Attack on Saudi oil field a game-changer in Gulf confrontation
https://www.cnn.com/2019/09/15/middleeas...index.html
(CNN, 15-Sep-2019)
-- Iran denies role in attacks on Saudi oil facilities; Trump says
U.S. is ‘locked and loaded’
https://www.washingtonpost.com/world/ira...story.html
(Washington Post, 15-Sep-2019)
After the attack on Saudi Arabia's oil facilities, oil prices have
spiked by the biggest one-day percentage on record, as oil markets
open in Asia on Monday morning. There was an initial surge of about
18%, but they've leveled off to around 12% after the US and Saudi
Arabia said that it would release some stockpiled reserves. Donald
Trump issued this tweet:
Quote: "Based on the attack on Saudi Arabia, which may have
an impact on oil prices, I have authorized the release of oil from
the Strategic Petroleum Reserve, if needed, in a to-be-determined
amount.... sufficient to keep the markets well-supplied. I have
also informed all appropriate agencies to expedite approvals of
the oil pipelines currently in the permitting process in Texas and
various other States. 5:55 PM · Sep 15, 2019"
The Saudis claim that they will partially repair the damage from the
attack within a day or two, but even if that turns out to be true,
it's still not known how long it will be before the Saudis are
operating at full capacity again.
Iran denies responsibity for the attack, but it's generally believed
that Iran is responsible, and this is the sixth attack on Saudi oil
facilities in the last four months.
Debka, which sometimes gets things wrong, reports that US intelligence
has determine that the attack vehicles were not drones launched from
Yement, but cruise missiles launched fro Iraq:
Quote: "US intelligence experts are studying satellite images
and other video evidence to track the source in Iraq of the major
attack on key Saudi oil facilities on Saturday, Sept. 14. Their
first discovery was that cruise missiles rather than drones struck
the Saudi oil refineries at Abqaiq, the largest in the world, and
its second largest oil field at Khurais – both in the kingdom’s
Eastern Provinces. They have also confirmed that the missiles were
launched from a pro-Iranian Iraqi Shiite militia base, despite
Baghdad’s denials."
Trump appears to be preparing a military response to the series
of Iranian attacks. He tweeted this:
Quote: "Saudi Arabia oil supply was attacked. There is reason
to believe that we know the culprit, are locked and loaded
depending on verification, but are waiting to hear from the
Kingdom as to who they believe was the cause of this attack, and
under what terms we would proceed! 6:50 PM · Sep 15,
2019"
Trump recently canceled an attack on Iran at the last minute,
but he may follow through this week.
Tensions are also rising for another reason. The sharp rise in
oil prices is going to hurt Asian economies, including China,
which receives half of its imported oil from Saudi Arabia.
Even if the gap in oil supplies is filled with stockpiles and
reserves, the concern is that Iran is going to continue attacking
Saudi oil targets.
---- Sources:
-- Brent crude oil jumps more than 11% after drone strikes disrupt
Saudi crude production
https://www.cnbc.com/2019/09/15/us-crude...ction.html
(CNBC, 15-Sep-2019)
-- US intel suspects Iranian cruise missiles hit Saudi oil facilities
from Iraq base
https://www.debka.com/us-intel-suspects-...iraq-base/
(Debka, 15-Sep-2019)
-- Attack on Saudi oil field a game-changer in Gulf confrontation
https://www.cnn.com/2019/09/15/middleeas...index.html
(CNN, 15-Sep-2019)
-- Iran denies role in attacks on Saudi oil facilities; Trump says
U.S. is ‘locked and loaded’
https://www.washingtonpost.com/world/ira...story.html
(Washington Post, 15-Sep-2019)