Oil prices surge after attacks on Saudi Arabia's crude facilities

Smoke billows from an Aramco oil facility in Abqaiq about 60km (37 miles) southwest of Dhahran in Saudi Arabia's eastern province on September 14, 2019. Drone attacks sparked fires at two Saudi Aramco oil facilities on the day.

Smoke billows from an Aramco oil facility in Abqaiq about 60km (37 miles) southwest of Dhahran in Saudi Arabia's eastern province on September 14, 2019. Drone attacks sparked fires at two Saudi Aramco oil facilities on the day.

AFP

JOHANNESBURG - Oil prices have surged to a six-month high following attacks on Saudi Arabia's crude facilities.

The attacks have knocked out more than five percent of global oil supply.

US President Donald Trump says Washington is 'locked and loaded' for a potential response.

READ: Oil price hits 2019 high

Trump has authorised the use of the US emergency oil stockpile to ensure stable supplies after the attack.

The attacks have heightened worries as relations between Iran and the US deteriorate.

Washington is blaming Iran for the drone attacks on Saudi oil installations.

The Yemeni Houthi group has claimed responsibility for the attack, which hit the world's biggest oil-processing facility.

The UN has condemned the attacks and called on those involved to prevent the situation escalating.

Source
eNCA