'This is nonetheless a historically large disruption on critical oil infrastructure and these events represent a sharp escalation in threats to global supply with risks of further attacks,' the bank wrote.
The U.S. blamed Iran for the attacks. President Donald Trump tweeted that"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!"
Iran has denied involvement in the strikes, which knocked out nearly half of Saudi Arabia's daily oil production.that the damage from the attacks had stopped production of about 5 million barrels per day, a figure that amounts to nearly 5 percent of global production. Saudi Arabia said it aimed to restore one-third of lost output on Monday. But concerns about the global oil supply have sent prices rising.
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