United States ´locked and loaded´ after Saudi attacks as oil prices surge

Iran dismisses U.S. claim it was behind Saudi oil attacks, says ready for war

Yemen's Iran-backed Houthi rebels claimed responsibility for the attack on the Saudi Aramco facility that paralyzed production of more than half of Saudi Arabia's global daily exports and more than 5% of the world's daily crude oil production.

"There is reason to believe that we know the culprit", adding that the U.S. was is "locked and loaded" and awaiting information from Saudi Arabia.

Iran pushed back hard, calling US accusations "maximum lies" and threatening that its forces could strike USA military bases in the Middle East. Pompeo issued two tweets blaming Tehran - without proof - despite Yemen's Houthi rebels claiming responsibility.

U.S. Secretary of State Mike Pompeo blamed Iran on Saturday, saying "there is no evidence the attacks came from Yemen".

He said the Houthis sent 10 drones to attack an oil processing facility in Buqyaq and the Khurais oil field.

Saudi Arabia has promised to fill the cut in production with its reserves but has not said how long it will take to fix the damage.

Some Iraqi media outlets, as well as Middle East Eye, said the attack came from there. He said he would use enough oil "sufficient to keep the markets well-supplied".

They also increased overall tensions in the region amid an escalating crisis between the US and Iran over Tehran's unraveling nuclear deal with world powers.

West Texas Intermediate jumped 10.68 p.c to $60.71 and Brent climbed 11.77 p.c to $67.31 in early Asia buying and selling following the blasts at amenities run by state-owned large Aramco.

Trump said that the United States was "locked and loaded" to respond to the attackers.

"To take Saudi oil production down 50%, that's shocking", said Jonathan Aronson, a research analyst at Cornerstone Macro.

Attacks on Saudi Arabia's oil facilities may impact Aramco's valuation but are unlikely to derail the kingdom's plan to sell shares in the oil giant, according to the Eurasia Group.

The U.S has previously accused Iran's hand in the attacks on two oil tankers in the Gulf in June although Tehran rejected them as "wild allegations".

"Abqaiq is perhaps the most critical facility in the world for oil supply".

"Amid all the calls for de-escalation, Iran has now launched an unprecedented attack on the world's energy supply", Pompeo said in a tweet.

The full effect of Saturday's attacks will become apparent today when the oil markets reopen.

Despite the rising tensions, the White House left open the door that Trump could meet with Rohani at the United Nations General Assembly in NY, which begins on September 17.

White House counselor Kellyanne Conway said earlier in an interview with "Fox News Sunday" that the attacks hit areas that are "vital to our global energy supply and we're not going to stand for that".

The fires led to the interruption of an estimated 5.7 million barrels in crude supplies, according to the statement, which said part of that would be offset with stockpiles.

The development comes as Saudi Aramco takes steps to go public in what could be the world's biggest IPO.

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