September 16, 2019
Unless you’re some kind of Texas oil tycoon, you probably didn’t notice oil prices sky-rocket over the weekend. 
Oil Price Rise: What Is Going On In Saudi Arabia?
But you might have seen this tweet from Donald Trump: “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.” 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!— Donald J. Trump (@realDonaldTrump) September 15, 2019“Locked and loaded?” Crickey. So, what the hell happened to Saudi Arabia’s oil facilities – and why is Donald Trump so interested? Here’s What Happened Saudi Arabia is the world’s biggest exporter of oil. But on Saturday, there was a serious drone attack on two major oil processing facilities in the country – one in Abqaiq, the world’s biggest petroleum-processing plant, and one in Khurais. 
Satellite images of the scene suggest serious damage to the Abqaiq facility, with black char marks seen at the heart of the plant. 
The attack has reportedly knocked out around 5% of the world’s oil supply and cut output from the facilities by 5.7 million barrels per day. 
According to the BBC, Saudi Arabia usually ships more than 7 million barrels out of the country each day. 
 The country has remained tight-lipped about the extent of the damage, other than to say there were no casualties. However, it is expected to be weeks before it is back at its full oil capacity. 
All of this means that oil prices have soared by almost 20%, with Brent crude – the international benchmark used by traders – jumping to $71.95 a barrel. It represents the biggest jump in prices within a day since the Gulf War in 1991. Why Is Donald Trump “Locked And Loaded”? The US has accused Iran of carrying out the attacks, with the country’s Secretary of State Mike Pompeo accusing Tehran of launching “an unprecedented attack on the world’s energy supply”. 
Iran has denied being involved, calling the accusations “pointless”. 
The row comes amid already-high tensions between the two countries over Iran’s nuclear programme, with the United States imposing sweeping sanctions on the country over the initiative. 
Richard Nephew, a programme director at Columbia University’s Center on Global Energy Policy, said if Iran was responsible for the attack, it may be as retribution for American sanctions. 
“They are making decisions about whether and how to respond to what they see as a massive attack on their interests from the US via sanctions by attacking US interests in turn, and those of US partners they believe are responsible for US policy,” he said. 
Meanwhile, Yemeni Houthi rebels have claimed responsibility for the attack. A Saudi-led coalition has been battling the Houthis for more than four years in a conflict which is widely seen as a proxy war between Saudi Arabia and Shi’ite Muslim rival Iran.  
But Pompeo said there was no evidence the attack came from Yemen. What Does This Mean For Prices At The Pumps? At the moment, it’s probably too early to know whether the attacks will lead to a rise in petrol prices for consumers – any spike could take weeks to trickle down to the pumps. 
Saudi Arabia said it would try and compensate for the damage to its oil processing facilities by drawing on its stocks, which stood at 188 million barrels in June. 
Meanwhile, Trump said he had authorised the release of US oil reserves in order to keep the markets “well-supplied”. 
(Infographic supplied by Statista)Related... How Fears Of A No-Deal Brexit Are Already Impacting Some Of The UK's Poorest Communities Bad Spad And Dangerous To Know: Can Dominic Cummings Shape Brexit And A Snap Election?
Related Stories
Latest News
Top news around the world
Coronavirus Disease

Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus.

Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. Older people, and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness.

Around the World

Celebrity News

> Latest News in Media

Watch It
'A Thousand Cuts' Journalist Maria Ressa on Freedom of the Press
August 06, 2020
FEI1t5k1C4w
Jordan Fisher on 'The Big Ticket' with Marc Malkin
August 06, 2020
1ceuwyhbuwc
Chris Meloni talks 'Maxxx' and His Return to 'Law and Order'
July 29, 2020
ZFTDB-dwyUA
Tekashi 6ix9ine, bodyguards ride NYC subway without masks | Page Six Celebrity News
August 11, 2020
cq8HI8VjEvw
'Top Model' contestant on Tyra Banks hosting 'Dancing with the Stars’ | Page Six Celebrity News
August 11, 2020
eT2BVjHvljE
Howard Stern’s advice to Ellen DeGeneres: ‘Just be a p—k’ | Page Six Celebrity News
August 11, 2020
_6r4GEf34KQ
Morgan & Jordan Play "Fian-Say What?: Baby Edition" Game
August 11, 2020
cZv9eHJ2nCY
"Fresh Prince of Bel-Air" Is Coming Back as a Drama
August 11, 2020
aKm8rI31VNI
Meghan Markle & Prince Harry: Biggest Bombshells in Book | E! News
August 11, 2020
TLM-qG4a_6A
Akon Says His City in Africa Will Be Like Real-Life Wakanda | TMZ
August 11, 2020
juJxypB4rwk
Simon Cowell Breaks His Back On Electric Bike, 'AGT' Judges Respond | TMZ
August 11, 2020
a31ryapqHss
Chris Pratt & Katherine Schwarzenegger Welcome Baby Girl | TMZ
August 11, 2020
uXmuZDylT08
TV Schedule
Late Night Show
Watch the latest shows of U.S. top comedians

Sports

Latest sport results, news, videos, interviews and comments
Latest Events
01
Aug
ITALY: Serie A
Juventus - Roma
01
Aug
ITALY: Serie A
AC Milan - Cagliari
01
Aug
ITALY: Serie A
Napoli - Lazio
01
Aug
ITALY: Serie A
Atalanta - Inter Milan
29
Jul
ITALY: Serie A
Torino - Roma
29
Jul
ITALY: Serie A
Cagliari - Juventus
29
Jul
ITALY: Serie A
Sampdoria - AC Milan
28
Jul
ITALY: Serie A
Inter Milan - Napoli
26
Jul
ENGLAND: Premier League
Manchester City - Norwich City
26
Jul
ENGLAND: Premier League
Arsenal - Watford
26
Jul
ENGLAND: Premier League
Leicester City - Manchester United
26
Jul
ITALY: Serie A
Juventus - Sampdoria
26
Jul
ENGLAND: Premier League
Chelsea - Wolves
26
Jul
ENGLAND: Premier League
Newcastle United - Liverpool
26
Jul
ENGLAND: Premier League
Crystal Palace - Tottenham Hotspur
26
Jul
ITALY: Serie A
Roma - Fiorentina
25
Jul
ITALY: Serie A
Napoli - Sassuolo
25
Jul
ITALY: Serie A
Genoa - Inter Milan
24
Jul
ITALY: Serie A
AC Milan - Atalanta
Find us on Instagram
at @feedimo to stay up to date with the latest.
Featured Video You Might Like
-g9Qziqbif8 0vmRhiLHE2U JFCZUoa6MYE UfN5PCF5EUo 2PV55f3-UAg W3y9zuI_F64 -7qCxIccihU pQ9gcOoH9R8 g5MRDEXRk4k tudKp5Vhs3k iwWHibhssSo kQr0XHPbICM
Copyright © 2020 Feedimo. All Rights Reserved.