Published: Wed, September 18, 2019
Money | By Ethel Goodwin

Oil price drops for 2nd day as Saudi crude output recovers

Oil price drops for 2nd day as Saudi crude output recovers

Iran's open celebration of the attacks has posed a challenge to Defense Minister Amir Hatami, who has been tasked with insisting Iran had nothing to do with the drone strikes.

Houthi drones or Iranian cruise missiles? .

DUBAI, Sept 17 (Reuters) - At a weapons exhibition in July in Yemen's Houthi-controlled capital Sanaa, military officials whipped silken sheets off what they said were newly-developed drones and missiles.

A spokesman for the Iranian president said the Saudis were misguided in their claims.

Cmdr. Joshua Frey, a spokesman for the U.S. Navy's 5th Fleet, declined to comment on the Saudi announcement, saying it "would be inappropriate to comment on the status of individual nations and the nature of any potential support". "One side of the clash are the Yemenis, who have announced explicitly that they have done the job", Hatami said on Wednesday.

The message "emphasized that if any actions are taken against Iran, that action will face an immediate response from Iran and its scope will not be limited to just a threat", the official IRNA news agency said.

Pompeo will also meet with Salman in Jeddah on Wednesday to co-ordinate efforts against "Iranian aggression", the U.S. Mission to the United Arab Emirates said.

IRNA separately reported Wednesday that Iran's first delegation for the annual U.N. General Assembly meeting had not left Iran because the USA has yet to issue them visas. "Whether it's been launched from Yemen, launched from somewhere else, those people they will be held accountable, and this is a decision at a political level in our country". Iran has ruled out talks with Washington unless it returns to the pact.

The Associated Press explains the far-reaching impact of the attack on the global economy.

During the long-running Iranian-Saudi cold war, neither state attacked the other's oil facilities for fear of mutual destruction of the infrastructure linked to their major export assets.

On Saturday, two Saudi oil facilities came under attack, temporarily halving Saudi oil production.

But Tehran again denied involvement in Saturday's attacks on oil plants, including the world's biggest crude processing facility, that initially knocked out half of Saudi production.

"They want to impose maximum. pressure on Iran through slander", Iran's President Hassan Rouhani, said according to state media.

But US officials and Saudi Arabia believe Iran is responsible.

A United States official told Reuters on Tuesday the strikes originated in southwestern Iran. The cruise missile had a small jet engine attached to it, he said. "It's not possible", the official said. Foreign Minister Mohammad Javad Zarif was to travel to NY on Friday, with Iranian President Hassan Rouhani following Monday, according to the agency.

The departure of John Bolton as Trump's national security advisor came nearly immediately before the strikes.

"So nice that our Country is now Energy Independent", Trump tweeted Wednesday.

US Secretary of State Mike Pompeo, left, with US ambassador to Saudi Arabia John Abizaid, right, and Saudi Foreign Minister Ibrahim al-Assaf in Saudi Arabia.

"As the president said, we don't want war with anybody, but the United States is prepared", Vice President Mike Pence said in a speech in Washington on Tuesday.

Production capacity would reach 11 million bpd by the end of September and 12 million bpd by the end of November, the kingdom's production capacity before the attacks, he said.

Like this: