Trump released a new statement on his Twitter account after the drone attacks on two refineries of oil giants Aramco of Saudi regime.
"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!" Trump said.
Trump said they would determine under what conditions they would take action, according to the response from Riyadh.
Riyadh's oil production had temporarily halted due to drone attacks on 2 facilities owned by Aramco while oil prices are expected to rise between $ 5 and $ 10 per barrel on Monday.
"Based on the attack on Saudi Arabia, which may have an impact on oil prices, I have authorized the release of oil from the Strategic Petroleum Reserve, if needed, in a to-be-determined amount sufficient to keep the markets well-supplied. I have also informed all appropriate agencies to expedite approvals of the oil pipelines currently in the permitting process in Texas and various other States," Trump said earlier.
According to experts, the extent of the damage inflicted by the attack on the Saudi regime will also be instrumental in determining long-term oil prices.
ILKHA