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Trump to ‘substantially increase’ sanctions on Iran

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By Sanya Burgess, news reporter Donald Trump has said he will “substantially increase” sanctions on Iran. The president’s announcement comes two days after he told reporters it was “looking like” Iran was behind the attacks on Saudi Arabia’s oil facilities, but he insisted he does not want war. The Saudi government is preparing to present Read More

Saudis keep oil flowing as they patch up wounded industry

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By Anthony DiPaola on 9/18/2019 DUBAI (Bloomberg) – Saudi Arabia reassured anxious customers that crude exports will keep flowing as normal and its industry can recover quickly from the worst attack in its history. Crude prices fell after Tuesday’s long-awaited statement from the kingdom — which pumped almost 10% of the world’s oil before the Read More

‘Material evidence’ of Iran’s involvement in plant attack – Saudis

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The Saudi government is preparing to present “material evidence” proving Iranian involvement in the weekend’s attack against two major Saudi oil production plants. At a news conference later in the capital Riyadh, a spokesman for the Saudi Defence Ministry will present Iranian weapons to substantiate claims that Iran was responsible for the attack. “(We will) Read More

Saudi Arabia joins US-led naval patrols in Strait of Hormuz

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Riyadh has enlisted in a US-led coalition aimed at protecting merchant ships as they travel through the Strait of Hormuz. The waterway has become a hotspot amid rising tensions with Iran. A source inside Saudi Arabia’s Ministry of Defense confirmed on Wednesday that the kingdom had joined the International Maritime Security Construct, state media reported. Read More

US believes attacks came from Iran as oil supplies resume

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By Sharon Marris, news reporter The attack on Saudi Arabia’s oil facilities originated from inside Iran, according to US media reports. It comes as the Saudi energy minister announced that half of the crude oil production cut after the attack had been restored. The remainder will be fully restored by the end of the month, Read More

FACTBOX: Oil falls after Saudi Arabia calms market over restoring supplies

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London — Oil prices fell Tuesday, giving back more than half of Monday’s surge, after Saudi energy minister Prince Abdulaziz bin Salman said he expects most of the country’s lost crude production to be restored within two weeks. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The fast recovery Read More

Saudi oil attacks came from southwest Iran, U.S. official says, raising tensions

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WASHINGTON/DUBAI (Reuters) – The United States believes the attacks that crippled Saudi Arabian oil facilities last weekend originated in southwestern Iran, a U.S. official told Reuters on Tuesday, an assessment that further increases tension in the Middle East. Three officials, speaking to Reuters on condition of anonymity, said the attacks involved both cruise missiles and Read More

Saudi Arabia to restore 11 million b/d production capacity within two weeks: energy minister

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Highlights Abqaiq is processing some 2 million b/d Oil prices fall after Saudi attack update Aramco IPO plan still set for next 12 months London — Saudi Arabia expects to restore most of the crude production affected by attacks on two of its key oil facilities within two weeks, the country’s energy minister said Tuesday, Read More

Saudi Arabia partially restores output at damaged oil plant

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By Anthony DiPaola on 9/17/2019 DUBAI (Bloomberg) – Saudi Arabia attempted to move beyond the worst oil disruption in its history, assuring the world that crude exports will not suffer, its damaged facility had partially restarted and production capacity would be back to normal within months. The long-awaited statement on Tuesday from the kingdom — Read More

Official says U.S. believes Saudi attacks came from southwest Iran

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WASHINGTON/DUBAI (Reuters) – The United States believes the attacks that crippled Saudi Arabian oil facilities last weekend originated in southwestern Iran, a U.S. official told Reuters on Tuesday, giving an assessment that further increases tension in the Middle East. Three officials, speaking to Reuters on condition of anonymity, said the attacks involved both cruise missiles Read More