Oil Rallies as Mideast Tensions Flare Over Saudi Pipeline Attack - Bloomberg:
Oil soared to a two-week high as Saudi Arabia accused Iran of ordering this week’s attack on its key oil facilities, fueling tensions between two of the world’s oil-producing superpowers.
Futures in New York advanced 1.4% on Thursday. Saudi Arabia’s vice-minister of defense and brother of the country’s de facto ruler said on Twitter that Tuesday’s drone attack was ordered by Iran.
His comments came as Saudi-led forces launched retaliatory airstrikes against Houthi positions in Yemen, where the United Nations is working to end a four-year war. The escalation also follows the U.S. ordering non-emergency staff to leave neighboring Iraq due to increasing threats in the region.
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