Saudi Attacks Send Oil Prices Spiraling
By Article Posted by Staff Contributor
The estimated reading time for this post is 71 seconds
- Drone attacks on massive and small oil facilities in Saudi Arabia have sent the price oil swelling
- President Tweeted last night that, “we are locked and loaded, but are waiting for the Kingdom.”
- Saudi Arabia, supported by the Trump Administration, is waging heinous war in Yemen.
- The world, including the United States, is less dependent on Saudi oil now than the 1970s.
Drone attacks on massive and small oil facilities in Saudi Arabia have sent the price oil swelling. A barrel surged as much as 71 dollars. The attack removed roughly 5 percent of global supplies. Why and who conducted the strikes are unclear for now.
President Tweeted last night that, “we are locked and loaded, but are waiting for the Kingdom.” The Trump administration denied the Houthi militia in Yemen, who claimed responsibility right after the attacks, because of the sophistication of the attacks.
Saudi Arabia, supported by the Trump Administration, is waging heinous war in Yemen. It has been a decade-plus war since the conflict dated back to the Arab Spring. The administration should not be so quick to discard the Houthi’s claim. The United States Congress voted a few months ago to end U.S. military involvement in Yemen.
The world, including the United States, is less dependent on Saudi oil now than the 1970s. Another oil crisis is unlikely. However, consumers should start seeing higher gas prices soon as their local stations.
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