''No Condition'' Talks With Iran Fake News, Says Donald Trump

''No Condition'' Talks With Iran Fake News, Says Donald Trump

President Donald Trump said the U.S.is "locked and loaded depending on verification" that Iran staged the attack on major Saudi Arabian oil facilities.

Trump in a tweet said his administration had "reason to believe that we know the culprit" and hinted that the United States was prepared to act upon "verification" of its suspicions.

Houthi rebels in Yemen, where a civil war has raged since they partially unseated the Saudi-backed government, claimed responsibility for the damage at the Aramco oil facilities.

An official statement issued by Aramco noted that the drone attacks has suspended the production of 5.7 million barrels of crude which represents over half of Saudi Arabia's oil output. Most output goes to Asia.

USA pump prices are likely to rise in coming days as gasoline futures spiked by more than 10% on Sunday trading, analysts said.

Analysts fear the attacks - which heightened tensions in the region after the United States blamed Iran - could push the price of crude oil up by $10 a barrel, which would translate as 3p to 4p per litre at the pumps.

Work is under way to restore production at the Abquaiq plant.

President Trump on Sunday said that the USA would be tapping into its Strategic Petroleum Reserve "if needed" in the wake of attacks on oil sites in Saudi Arabia.

Trump said he would release oil from the U.S. Strategic Petroleum Reserve in response to the attacks potentially impacting oil prices.

Brent crude futures settled at $69.02 (55.55 pounds) a barrel, up $8.80, or 14.6%, its largest on-day gain since at least 1988.

GARCIA-NAVARRO: What details do we know about these attacks on Saudi Arabia's oil facilities?

Riyadh said it will compensate for the damage at its facilities by drawing on its stocks, which stood at 188 million barrels in June, according to official data.

Oil ended almost 15% higher on Monday, with Brent logging its biggest jump in over 30 years amid record trading volumes, after an attack on Saudi Arabian crude facilities cut the kingdom's production in half and fanned fears of retaliation in the Middle East.

In August, the U.S. Energy Information Administration estimated that Saudi Arabia produced some 9.85 million barrels per day.

The officials say the intelligence shows that the strikes are inconsistent with the kind of attack that would have been launched from Yemen.

"Iran will not stop their misbehavior until the consequences become more real, like attacking their refineries, which will break the regime's back", Graham wrote on Twitter in the hours after the attack.

Additional devices that missed their targets were recovered northwest of the facilities and are being jointly analyzed by Saudi and USA intelligence, The Associated Press reported.

The images Sunday come from the European Commission's Sentinel-2 satellite.

Iran has denied responsibility for the attack, accusing Pompeo of "max deceit", as the country's Foreign Minister Mohammad Javad Zarif tweeted Saturday.

Separately, KUNA said authorities would investigate reports of drones flying over Kuwait.

In July 2018, the president first said "no preconditions". The strikes in Saudi Arabia may all but rule out such a move anytime soon despite pleas by Western leaders led by French President Emmanuel Macron. But you know, Lulu, these attacks happen as the kingdom is looking to sell off a slice of Saudi Aramco in an initial public offering, which could be worth hundreds of billions of dollars for the kingdom.

USA oil prices have been trading in a belt between $50 and $60 a barrel in the past six months.

Muhammad al-Bukhaiti told The Associated Press on Sunday that the USA allegations that Iran was behind the attack reflected "political bankruptcy" of the administration in Washington.

There would be worries that the global oil supply is more insecure and that more attacks may be coming.

"The United States wholeheartedly condemns Iran's attack on Saudi Arabia and we call on other nations to do the same", he said in a speech to an annual meeting in Vienna of the U.N. nuclear watchdog IAEA.

"The vulnerability of Saudi infrastructure to attacks, historically seen as a stable source of crude to the market, is a new paradigm the market will need to deal with", said Virendra Chauhan, a Singapore-based analyst at industry consultant Energy Aspects.



Latest news

Laura Dern Claims The Bradley Cooper Dating Rumors Are Untrue
Laura Dern put the lid on rumors that she and Bradley Cooper had ever dated, saying that they are close in a platonic way. However, Gaga has passed on from her ex-fiance Christian Carino and is rumored to be dating Dan Horton.

Google Pixel 4 XL launch date confirmed for October 15
It's unclear what the ultimate cost of the Pixel 4 will be, but prices are likely to be significantly higher than the Pixel 3. The battery capacity for the Pixel 4 XL will be 3,700mAh, while the Pixel 4 will get a 2,800mAh battery.

Brad Pitt: 'Being honest about alcoholism gave me greater peace of mind'
The International Space Station crew previewed the film a few weeks ago. "You were, absolutely", Hague said with a smile. The question elicited audible laughter from both Hague and the NASA ground team coordinating the call.

Humberto becomes a hurricane
Over the next five days however, the wave east of the Lesser Antilles has a 70 percent to become a tropical depression. Humberto on Saturday dumped more rain on the Bahamas after Hurricane Dorian destroyed parts of the country.

Motorola Moto E6s budget smartphone launched in India: Price, specifications, features
The latest Smart TV from Motorola comes with a up to 4K UHD resolution and it features minimal bezels around the corner. The phone features a plastic build and comes with a removable back which allows for hassle-free battery swaps.

Other news