mounting concerns over a possible hike
in global oil prices in the aftermath of
the attacks and two major oil plant in
Saudi Arabia over the weekend many
countries are bracing for impact as
pundits say prices might spike up to ten
dollars per barrel our Kim Morgan starts
us off this morning with Saudi oil
attack a game-changer on global oil
prices a spike in global oil prices
seems to be inevitable in the aftermath
of Saturday's drone attacks on Saudi
Arabia's main oil processing plants
which had been accountable for some 5%
of the global oil supply the nation's
state-run oil company Saudi Aramco has
temporarily closes facilities which many
experts expect will cause a lack of
supply leading to higher global oil
prices Saudi Arabia's Energy Minister
Abdul Aziz bin Salman says the strikes
will cut the kingdom's
oil output by 5.7 million barrels a day
the results are expected to deal a big
blow to many countries including South
Korea Japan and China which each import
around 4 million barrels of Saudi crude
oil an average everyday global oil
prices have recently been low with Brent
crude the global benchmark closing at
sixty point two two US dollars per
barrel on Friday
but some experts forecast a price to
increase by 10 dollars per barrel when
markets open on Monday meanwhile a top
US official said that Washington is
ready to make use of its Strategic
Petroleum Reserve if needed to stabilize
the global energy supply speaking in an
interview with Fox News on Sunday White
House adviser Kellyanne Conway said that
the US Energy Department is prepared to
tap into its emergency fuel reserves to
cope with the situation Conway also did
not rule out the possible meeting
between the leaders of the u.s. and Iran
on the sidelines of the UN General
Assembly this month but still stressed
that the attack did not help that
prospect Washington had blamed Iran for
the attacks but Iran denied involvement
criticizing Washington for its quote
blind and futile comments Iraq another
country accused of involvement in the
attacks by the media also denied any
link stressing that it is
constitutionally committed
to preventing any use of its soil for
attacks on its neighbors Kim Yoo Lian
Arirang news