It is to be noted that U.S. President Donald Trump authorized the release of oil from the U.S. Strategic Petroleum Reserve if needed in a quantity to be determined because of Saturday’s attack on Saudi Arabia’s oil facilities.
In a tweet, Trump said that he has informed all appropriate agencies to expedite approvals of the oil pipelines currently in the permitting process in Texas and various other States.
Meanwhile, Iran has denied allegations made by U.S. Secretary of State Mike Pompeo that it was behind the attacks. Iran’s Foreign Minister said that the United States and its allies were “stuck in Yemen” because of illusion that weapon superiority will lead to military victory. He added that blaming Tehran “won’t end the disaster”.
Further, France and Britain have condemned attacks on two Saudi Aramco plants claimed by Yemen’s Iran-aligned Houthi group.
The attack are expected to send oil prices up $5-10 per barrel globally as tensions rise in the Middle East.
Based on the attack on Saudi Arabia, which may have an impact on oil prices, I have authorized the release of oil from the Strategic Petroleum Reserve, if needed, in a to-be-determined amount … sufficient to keep the markets well-supplied. I have also informed all appropriate agencies to expedite approvals of the oil pipelines currently in the permitting process in Texas and various other States.
This was a reckless attempt to damage regional security and disrupt global oil supplies. The UK condemns such behaviour unreservedly.
Having failed at “max pressure”, @SecPompeo’s turning to “max deceit.” US & its clients are stuck in Yemen because of illusion that weapon superiority will lead to military victory. Blaming Iran won’t end disaster. Accepting our April ’15 proposal to end war & begin talks may.