Attack could cause spike in gas prices

PM Imran offers full support to Saudi Arabia after attack on oil facilities

Prime Minister Imran Khan and Saudi Crown Prince Mohammed bin Salman.

The State Department did not immediately respond to an after-hours email from Fox News on Tuesday morning.

The weapons used to strike Saudi oil facilities were Iranian-made, the Riyadh-led coalition said Monday, heightening fears of regional conflict after the United States hinted at a military response to the assault. Secretary of State Mike Pompeo has pitched lawmakers on the idea that the 2001 Authorization of Military Force (AUMF)-passed in the wake of 9/11 to permit the attack Al Qaeda-allows the attack Iran without further congressional approval.

"There will be no talks with the any level", he said.

Iran has rolled back its commitments under the nuclear deal, while attacks on a Saudi oil pipeline and tankers off the UAE coast in May this year were linked by the USA to Iran and Yemen's Houthis.

"Because of one thing we can be certain, and that is that this very serious incident makes the chances of a regional conflict that much higher".

Who does the US think is responsible? In the first half of this year, the US imported fewer than half the amount of barrels each day from Saudi Arabia than it did two years ago. Donald Trump withdrew from the 2015 nuclear deal that was initially agreed when Barack Obama was president, citing what he viewed it as a "violation" of the agreement from Tehran. He also re-imposed and escalated sanctions on Iran that sent the country's economy into freefall.

The Saudi-led coalition, which is bogged down in a five-year war in neighbouring Yemen, reiterated the assessment that the Huthis were not behind it, pointing the finger at Iran for providing the arms. But he stressed that military retaliation was not yet on the table in response to the strike against a key U.S. Mideast ally.

Hezbollah: Shooting down of Israel drone strengthens deterrent
"We will respond in an appropriate and proportionate manner and there will no red lines at all", Hizbullah's leader warned. Israel said it had faked soldier casualties to dampen any inclination of Hezbollah to escalate hostilities.

If the tensions grew to the point when the Strait of Hormuz were actually shut, then the oil prices could rise to $100 a barrel.

"If we yield to their pressure and hold talks with Americans".

An anonymous USA official told the Associated Press that no decisions were made Sunday, but that all responses, including military action, are on the table.

"The whole situation is more complicated than the war hawks in town would have you believe", says Chris Preble, vice president for defense and foreign policy studies at the Cato Institute, a libertarian think tank.

A rebel group in Yemen claimed responsibility for the attacks, which targeted a facility belonging to Saudi Aramco, the Kingdom's national oil company.

Moreover, the market mood remains cautious amid lingering fears over a military response to attacks while the US' likelihood of releasing its crude reserves also collaborates to the downbeat tone around the black gold.

"The kingdom is capable of defending its land and people and responding forcefully to those attacks", the statement added.

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