Khamenei Says Iran Officials 'Will Never Talk To America'

Daniel Fowler
September 17, 2019

The attacks on crude-processing facilities at Abqaiq and Khurais resulted in the largest single supply disruption in half a century, and threw into question Saudi Arabia's status as supplier of last resort.

Oil prices slid on Tuesday, although the market remains on tenterhooks over the threat of a military response to attacks on Saudi Arabian crude oil facilities that halved the kingdom's output and prompted a price spike not seen in decades.

Iranian Foreign Minister Mohammad Javad Zarif met the Chinese government's top diplomat, State Councillor Wang Yi, in Beijing late last month.

"Certainly, it would look to most like it was Iran", Trump added.

Saudi Arabia, however, says the attack did not come from Yemen and said initial investigations show Iranian weapons were used.

U.S. president Donald Trump said he would release USA reserves, easing concerns.

"Given the violence of this increase - with Brent Crude Oil (a key benchmark for jet fuel hedging) climbing as much as 20% in a few minutes on Monday - the pass-over into linked markets (air, container freight) is somewhat inevitable".

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The supreme leader reiterated this on Tuesday, saying that if the U.S.

"Yemeni people are exercising their legitimate right of defence", Mr Rouhani told reporters during a visit to Ankara.

The attack on Saudi Arabia that triggered the biggest jump in oil prices in nearly 30 years was carried out with Iranian weapons, a Saudi-led coalition said on Monday.

But the New York Times reported that United States officials had satellite images showing the attacks, possibly with drones and cruise missiles, had come from the north or northwest. This should help to further minimize the impacts of the attacks on consumers. "It's a possibility but it's still very early", said one source who spoke on condition of anonymity.

The kingdom has a spare capacity of around two million bpd that it can draw on at times of crisis.

Saudi economic consultant Sulaiman al-Assaf warned that a prolonged production delay could push prices into "triple digits", a development that would strain the already slowing global economy.

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