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Oil prices on Monday after the drone attacks on oil plants in Saudi Arabia. Prices their biggest rise in a decade. At one point, prices up by nearly 20 per cent. This the biggest one-day rise since the 1990-91 Gulf War. Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman the drone attack on Saudi Arabia's Abqaiq oil plant the kingdom's oil production in half. The attacks will cut the world's daily oil production by five per cent. The Bloomberg news agency said it could weeks for Saudi to the damage. During this time, people could higher gasoline prices at the pumps, especially in Asia. People may also have to higher prices for food and other goods.

Yemen's Houthi group has responsibility for the attacks in Saudi Arabia. The group said the attacks because of Saudi Arabia's attacks on rebel groups in Yemen. Iran's President Hassan Rouhani the Houthi claim. He the attack an act of self defense. He said: "Yemeni people are their legitimate right of defense. The attack was a reciprocal response to years of Saudi aggression against Yemen." However, an Arab coalition says there evidence that the weapons to strike the Saudi oil plants were by Iran. U.S. officials say satellite images the attacks from either Iraq or Iran and not Yemen. Iranian officials called the U.S. allegations "maximum lies".