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Commodities Headlines

U.S. blames Iran for Saudi attacks, 'pretend' diplomacy

U.S. Secretary of State Mike Pompeo on Saturday accused Iran of leading attacks on Saudi oil plants that have cut the kingdom's output roughly in half, as he ruled out Yemeni involvement and denounced Tehran for engaging in false diplomacy.

Global spare oil capacity in U.S. hands after Saudi outage

An attack on Saudi oil facilities on Saturday is believed to have disrupted half the country's production capacity, making the United States the only real holder of the global supply cushion via its ability to raise own output or to soften sanctions against other major oil producers.

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