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MbS Warns of Spike in Oil Prices over Iran, but Prefers Diplomacy to War
Saudi Arabian Crown Prince Mohammed bin Salman hosts US Secretary of State Mike Pompeo on September 18 in Jeddah. (Mandel Ngan - pool/AFP/Getty Images)

MbS Warns of Spike in Oil Prices over Iran, but Prefers Diplomacy to War

Mohammed bin Salman, crown prince of Saudi Arabia, says the price of oil could hit “unimaginably high numbers” if Iran is not deterred. He made the remarks on Tuesday during an interview with the popular American news program 60 Minutes that was broadcast on Sunday evening. The interview came 10 days after a massive aerial attack against two Saudi oil processing facilities – one of them the largest in the world – by missiles and drones. Riyadh, Washington and several European capitals are blaming the attacks directly on Iran. “If the world does not take strong and firm action to deter Iran, we will see further escalations that threaten world interests,” the crown prince said. “Oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven’t seen in our lifetimes.” He also took responsibility for the death of dissident Saudi journalist Jamal Khashoggi, who was killed at the kingdom’s consulate in Istanbul on October 2, 2018. While he insisted it had been a rogue operation he had been unaware of, he said: “This was a mistake. And I must take all actions to avoid thing like this in the future.”

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