Oil prices surged more than 15% after Saturday's attacks on Aramco's plants shut down six percent of global oil supply
Kuwait is working with Saudi Arabia to investigate the sighting of a drone over its territory following Saturday’s attacks on oil plants in Riyadh which resulted in the shutting down of six percent of global oil supply, according to Reuters.
“The security leadership has started the necessary investigations over the sighting of a drone over the coastline of Kuwait City and what measures were taken to confront it,” the cabinet said on Twitter, with Prime Minister Sheikh Jaber al-Mubarak al-Sabah ordering military and security officers to take necessary measures “to protect Kuwait’s security”.
The country’s 90-year-old ruler Sheikh Sabah Al-Ahmad Al-Jaber al-Sabah last week left a US hospital after having successful check-ups. He spoke to Saudi King Salman to express support for the kingdom, reported state news agency KUNA.
While Yemen’s Iran-aligned Houthi group claimed responsibility for the attack, US President Donald Trump pointed fingers at Iran and tweeted, "The United States will work with our partners and allies to ensure that energy markets remain well supplied and Iran is held accountable for its aggression."
Secretary of State Mike Pompeo tweeted that there was "no evidence the attacks came from Yemen”, while some Iraqi media outlets said the attack came from Iraq. Baghdad, however, denied the claims.
Moreover, oil prices saw a record surge in the first minutes of business on Monday as Brent futures rose $12, marking the highest jump since their launch in 1988 and a rise of almost 20 percent, while WTI rose more than $8 (15 percent). Both pared the gains but were still over 10 percent higher.