16 September 2019 — Indian Punchline
Benchmark oil futures jumped as much as US$11.73 a barrel to US$71.95 as market opened in Asia on Sept 16, 2019.
The US President Donald Trump’s tweet Sunday regarding the attack on two Saudi Aramco plants says as follows:
“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!”
It’s a cleverly-worded tweet with multiple audiences in view. Trump took time to react. And he’s stopped short of blaming Iran. The US lacks hard evidence. Therefore, “verification” is needed and it is Riyadh’s call to estimate “the cause of this attack, and under what terms we would proceed.”