in the vicinityVideoYemen rebel group admits to attack on Saudi oil facilities
The attack knocked out more than half of the Saudi-Arabian oil production, forcing to open up the USA to keep their own oil reserves, the markets well supplied.
President Trump proposed for Sunday, U.S. investigators have “reason to believe” they knew launched crippling attacks against key Saudi oil facility and vowed that America was “locked and loaded, depending on the review.”
While he did not specify who he believed was a drone responsible for Saturday’s attacks, the US investigators previously showed with the finger on Iran.
“Saudi Arabia was attacked the oil supply. There is reason to believe that we know the perpetrators are locked and loaded, depending on the test, but will wait to hear from the rich, who do you think was the cause of this attack, and the conditions under which we would go!”, the President tweeted.
Earlier on Sunday, Trump authorized the use of emergency oil reserves in Texas and other States to Saudi oil-processing facilities, sparking fears were attacked, a rise in oil prices when the markets open on Monday.
The President wrote that he is sufficient to the release of oil from the Strategic Petroleum Reserve authorized “in a to-be-determined amount, the markets well supplied.”
He continued, “I also informed all competent authorities to speed up approvals of oil pipelines, which is currently in the approval process in Texas and various other States.”
The Saudi oil sites attacked on Saturday, in a drone attack connected with Iran, interrupted about 5.7 million barrels of crude oil production, about 5 percent of the world’s daily supply.
Yemen, Iran-supported Houthi rebels have the responsibility, but the United States is accusing Iran launch the attack. Tehran has denied involvement, calling the accusations “maximum.”
This Saturday, oil-processing facility in Buqyaq, Saudi-Arabia satellite image showed thick black smoke from Saudi Aramco, the Abqaiq -.
(Planet Labs Inc via AP)
The Strategic Petroleum Reserve, located in Texas and Louisiana, is the largest state-owned stockpile of emergency crude oil in the world, according to the Department of Energy, the management of the supply.
The emergency reserve was triggered in the mid-1970s, against the backdrop of rising petrol prices due to the Arab oil embargo. Per U.S. law, the President, the use of the reserves authorize, when a large disturbance, a threat to the economy.
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The federally owned petroleum reserve of several hundred million barrels of crude oil only three times has opened up, most recently in 2011, in the midst of the unrest in Libya.
“This President and his national security team, Secretary (of state Mike) Pompeo – our nation’s chief diplomat – hold a lot of options on the table, especially when it comes to retaliation against malicious behavior, protection of American interests and the Americans and the American economy,” said Kelly Anne Conway, a counselor of President Trump, on “Fox News Sunday.”
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Saturday, the attack made no immediate impact on global oil prices, as markets were closed for the weekend, but some analysts have pointed out that the oil prices spike when the markets open on Monday.
Fox News’ Bill Hemmer, Stephen Sorace, and The Associated Press contributed to this report.