Saudi Oil Attack: Recreates the Fears of Iran-US Conflict in Gulf

Saudi Oil Attack

Washington accused Tehran of the drone attack on the world’s largest oil-producing facilities in Saudi Arabia. This Saudi oil attack led to the apprehension of Iran and the US war in the Gulf as on Sunday (15th September 2019).

The reaction of the US:

President Donald Trump, Vice President Mike Pence, Secretary of State Mike Pompeo, and Defence Secretary Mark Esper met. Meanwhile, there was the National Security Council meeting at the White House after Trump’s warning to Riyadh. Officials after that meeting said, “The US is waiting to hear from Riyadh about cause and procedure of devastating Saudi oil attack”.

Reaction of Iran:

On Monday, Iran brushed aside the US allegations as baseless and unacceptable. Earlier, Abbas Mousavi, the spokesman of Foreign Ministry, commented as follows. The US accused Iran’s predawn attacks on Saudi Arabia’s Eastern provinces (Abqaiq and Khurais). The US remarks are intellectual plotting for damaging a country’s reputation. Also, it motives future attacks.

Iran-US War Threat:

Iran’s Revolutionary Guard force announced it was ready for a “full-scale war”. The aerospace arm commanders of the Islamic Revolutionary Guard Corps warned hitting a range of Iran’s missiles. Any US base or ship within a range of 2,000 km (1,240 miles) can be attacked. Meanwhile, According to Brigadier-General Amir Ali Hajizadeh, the area is like a powder barrel ready to explode. He added that neither Iranians nor Americans want any war. However, powerful forces in close contact with each other might end up in conflicts caused by misunderstanding.

Impact of Saudi Oil Attack:

Because of the Saudi oil attack, the price of the US crude oil raised to $5.61/barrel. The same oil was priced at $60.46/barrel or 10.2% in electronic trading of the New York Mercantile Exchange. Brent crude oil complying with international standard costs $7.84/barrel. In the New York Mercantile Exchange, the Brent crude oil costs $68.06/barrel or 13%.

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