Oil prices soared Monday after the drone attacks oil plants in Saudi Arabia. Prices saw their biggest rise a decade. At one point, prices shot by nearly 20 per cent. This is the biggest one-day rise the 1990-91 Gulf War. Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said the drone attack Saudi Arabia's Abqaiq oil plant cut the kingdom's oil production half. The attacks will cut the world's daily oil production by five per cent. The Bloomberg news agency said it could take weeks Saudi to repair the damage. During this time, people could see higher gasoline prices the pumps, especially in Asia. People may also have to pay higher prices food and other goods.
Yemen's Houthi group has claimed responsibility the attacks in Saudi Arabia. The group said the attacks were because Saudi Arabia's attacks rebel groups in Yemen. Iran's President Hassan Rouhani supported the Houthi claim. He called the attack an act self defense. He said: "Yemeni people are exercising their legitimate right defense. The attack was a reciprocal response to years of Saudi aggression Yemen." However, an Arab coalition says there is evidence that the weapons used to strike the Saudi oil plants were made Iran. U.S. officials say satellite images suggest the attacks came either Iraq or Iran and not Yemen. Iranian officials called the U.S. allegations "maximum lies".
