The price of gas looks to be heading for an upswing after Saudi Arabian oil fields were attacked. President Trump tweeted that the U.S. was “locked and loaded depending on verification” that it was Iran responsible for the attack. Shortly after the tweet, Iran-backed Houthi rebels claimed responsibility for the attack, which took out roughly five percent of the global supply.
President Trump tweeted Sunday night: “Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!”
Many critics of Trump took issue with a foreign power seemingly dictating if, or when, we will retaliate. Democratic presidential hopeful Beto O’Rourke tweeted: “As President I will not go to war for Saudi Arabia, nor will I let Saudi Arabia dictate our foreign policy.”
The Trump administration has been closely following the updates on the oil fields since the attack. According to ABC News, senior Trump official told them the damage was caused by over a dozen cruise missiles as well as drone strikes.
To further validate their claims, the administration released a satellite photo showing the damage to the oil fields. They claimed the impact sites, which were coming from the direction of north/northwest, prove it was from either Iraq or Iran.
The aforementioned Houthi rebels have officially claimed responsibility for the oil field attacks, the Daily Mail reported. This attack, which took out more than half of Saudi crude output, looks to be bad news for the rest of the world’s gas prices.
In the United States, analysts expect a 24 percent per gallon increase on gas in the coming weeks.
This looks to be the norm for the foreseeable future as these oil fields could take “weeks” to be repaired, according to sources close to the Saudi government.