$OIL, $USO

Monday, President Trump said said that it looked like Iran was responsible for attacks at the weekend on Saudi Arabian Crude Oil plants, but he does not want war with anyone, is in no rush to respond and is trying to find out who was behind the strikes.

Several of his Cabinet officials including: Secretary of State Mike Pompeo and Secretary of Energy Rick Perry blame Tehran for the attacks, which cut 5% of world Crude Oil production.

Iran has denied blame, with Iranian President Hassan Rouhani saying the strike was carried out by “Yemeni people” retaliating to attacks by the Saudi-led coalition in Yemen’s 4-yr-old war.

President Trump said the United States has lots of options to respond to the attacks, but declined to say what measures he was considering. He added that, while the United States could help, he had not promised protection to Riyadh.

The attacks on Saudi Arabia have damaged the globe’s largest Crude Oil processing plant and triggered the biggest spike in Crude Oil prices in nearly 30 years.

Stay tuned…

  Arabia, attack, Crude, Iran, oil, options, president, prices, Saudi, Trump, USO, war, Yemen

The following two tabs change content below.

• Bio
• Latest Posts

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

Latest posts by Paul Ebeling (see all)

• The 5 Safest Cities in the World - October 13, 2019
• Box Office: ‘Joker’ Laughs with another $55-M in North America - October 13, 2019
• US Q-3 Earnings, Here They Come - October 13, 2019