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WASHINGTON, United States (AFP) — Saudi Arabia’s crown prince said in an interview aired Sunday that war with Iran would devastate the global economy and he prefers a non-military solution to tensions with his regional rival. “If the world does not take a strong and firm action to deter Iran, we will see further escalations that will threaten world interests,” Prince Mohammed bin Salman told the CBS program “60 Minutes.” “Oil supplies will be […]
HONG KONG, China (AFP) — Oil prices rallied Monday after Iran warned the presence of US forces in the Gulf was causing instability in the region, while equities were mostly down as Donald Trump said he did not want a partial trade deal with China. While a loosening of monetary policy by central banks is providing support to investors, they remain on edge following last week’s attack on Saudi oil facilities that was claimed by […]
by Sarah Stewart with Anuj Chopra in Riyadh DUBAI, United Arab Emirates (AFP) — The US wants a peaceful solution to the crisis sparked by attacks on Saudi oil installations, Secretary of State Mike Pompeo said Thursday, after Iran raised the spectre of “all-out war”. Pompeo has blamed Iran for the dramatic weekend assault on two facilities, condemning an “act of war” which knocked out half the kingdom’s oil production. The rhetoric has raised the […]
NEW YORK, United States (AFP) — Oil prices shot higher Thursday on fresh supply concerns in the Middle East, while on most markets stocks climbed after the US Federal Reserve’s decision to cut interest rates. Brent oil jumped nearly 1.3 percent as traders seized on resurfacing tensions in the crude-rich Middle East. The market had surged at the start of the week after drone attacks on Saudi oil facilities on Saturday. Traders remain on red […]
by Sebastian Smith WASHINGTON, United States (AFP) — US Secretary of State Mike Pompeo was to fly to Saudi Arabia Tuesday to discuss possible retaliation after Washington said it had proof that attacks on Saudi oil installations originated in Iran. Vice President Mike Pence announced that Pompeo was on his way to Saudi Arabia to “discuss our response.” “As the president said, we don’t want war with anybody but the United States is prepared,” Pence […]
LONDON, United Kingdom (AFP) — Oil prices fell Tuesday but held most of the previous day’s record gains that were fuelled by an attack on Saudi facilities that wiped out half the country’s crude output. Traders were nervously awaiting further US response after it said Iran was likely to blame. The crisis revived fears of a conflict in the tinderbox Gulf region and raised questions about the security of crude fields in the world’s […]
by Sebastian Smith WASHINGTON, United States (AFP) — Donald Trump famously canceled a missile strike on Iran in June, but Tehran will not be resting easy following the unpredictable president’s warning that the United States is again “locked and loaded.” After giving diplomats whiplash last week with reversals on Afghanistan, Trump now has the world on tenterhooks over his response to a weekend attack on Saudi oil facilities that his top diplomat has blamed […]
by Paul Handley / with Anuj Chopra in Riyadh WASHINGTON, United States (AFP) — The United States readied its response Monday to the “unprecedented” attack on Saudi oil facilities as President Donald Trump said Iran was likely to blame, fanning new fears of conflict in the Gulf region. Trump said he was ready to help key ally Saudi Arabia counter the weekend drone attacks, which triggered a record leap in global oil prices, but […]
BEIJING, China (AFP) — China on Monday urged the United States and Iran to “exercise restraint” after a drone attack on Saudi oil infrastructure, which Washington has blamed on Tehran. Chinese foreign ministry spokeswoman Hua Chunying also said it was not responsible to accuse others “in the absence of a conclusive investigation or verdict”. “The Chinese side’s position is that we oppose all actions that enlarge or intensify conflict,” she told reporters at a […]
HONG KONG, China (AFP) — Oil prices saw a record surge Monday after attacks on two Saudi facilities slashed output in the world’s top producer by half, fuelling fresh geopolitical fears as Donald Trump blamed Iran and raised the possibility of a military strike on the country. Brent futures surged $12 in the first few minutes of business — the most in dollar terms since they were launched in 1988 and representing a jump of […]
by Anuj Chopra RIYADH, Saudi Arabia (AFP) — Saudi energy giant Aramco is battling to reassure markets after devastating attacks on two oil plants, where a prolonged shutdown risks roiling investor confidence ahead of the state-owned giant’s mega stock listing, analysts say. A wave of drones struck Abqaiq –- the world’s largest oil processing facility –- and the Khurais oil field in eastern Saudi Arabia, knocking out nearly half of the kingdom’s crude production and […]
by W.G. Dunlop with Anuj Chopra in Riyadh WASHINGTON, United States (AFP) — President Donald Trump said Sunday the US is “locked and loaded” to respond to an attack on Saudi oil infrastructure that Washington has blamed on Iran, as Riyadh raced to restart operations at plants hit by drone attacks. It is the first time the president has hinted at a potential American military response to the attack, which slashed Saudi oil production by […]
