Oil plummets 5% as Saudi output seen returning soon after attacks

Forex traders said the drone attacks on Saudi Arabia's oil facilities have enthused demand for safe heaven assets like the US dollar

Rupee slips 28 paise against US dollar in early trade

Iranian state media on Tuesday conveyed a threat against the United Arab Emirates of attacks similar to the strike against a key Saudi oil processing facility that caused reverberations worldwide.

Riyadh asked worldwide experts to join its investigation, which indicates the attack did not come from Yemen, the foreign ministry said.

The Saudis invited the United Nations and other worldwide experts to help investigate, suggesting there was no rush to retaliate and that the kingdom is looking for an internationally backed response to the attack.

"I'm sure inside their own country, Iran is having a turbulent discussion about how far they want to go with this, in terms of provoking the United States".

Rhodes criticized the idea of the US retaliating against Iran for them playing a role in the Saudi oil strikes, saying the "American military should certainly not be for sale to the highest bidder".

For its part, Iran only claimed one attack during this period, the shootdown of a US military surveillance drone it alleges entered its airspace on June 20.

The rebel Houthi group that controls Yemen's capital claimed responsibility for the attack, which knocked out more than half of Saudi Arabia's oil production and damaged the world's biggest crude processing plant.

Speaking in Beijing, Chinese Foreign Ministry spokeswoman Hua Chunying appealed for calm and restrain.

He continued: "I wouldn't necessarily think the Saudis have the capabilities to breach Iranian air defence in the way the Americans could. China's position is that we oppose any moves that expand or intensify conflict", Hua told a daily news briefing.

Tehran and Riyadh are historic foes that have been backing opposite sides in Yemen's long-running civil war.

"That was an attack on Saudi Arabia, and that wasn't an attack on us". He encouraged the Crown Prince to continue working with global partners.

Washington state consumers filling up their vehicles will soon feel the effects of the drone attacks on two of Saudi Arabia's major oil facilities, according to AAA.

Saudi and USA investigators have determined "with very high probability" that the weekend attack on the Saudi oil industry was launched from an Iranian base in Iran close to the border with Iraq, according to a source familiar with the investigation.

Crude oil prices worldwide spiked after the attacks.

Brent crude sank more than seven percent during the Saudi energy minister's news conference.

"We can talk (later)". Traders may not have fully priced in the impact of the supply losses, according to Citigroup Inc.

The leaders of Turkey, Russia and Iran met in Ankara on Monday and agreed to try to ease tensions in northwest Syria's Idlib region, but disagreements between the countries appeared to linger, especially over the threat from Islamic State.

Also on rt.com Oil at $100 per barrel?

The Huthis claimed responsibility for the attack, which halved oil output in Saudi Arabia, the world's top crude exporter.

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