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Saudi Crown Prince warns of skyrocketing oil prices if Iran tensions don’t ease

Deputy Crown Prince of Saudi Arabia Mohammad bin Salman Al Saud. (Official Internet Resources of the President of Russia/Released)
September 30, 2019

This article was originally published by Radio Free Europe/Radio Liberty and is reprinted with permission.

Saudi Arabian Crown Prince Muhammad bin Salman has warned that world oil prices could soar to “unimaginably high levels” if the international community doesn’t take a “strong and firm” stance against Iran, otherwise tensions will escalate.

“If the world does not take a strong and firm action to deter Iran we will see further escalations that will threaten world interests,” the crown prince told the weekly U.S. news program 60 Minutes.

The interview, aired on September 29, came 15 days after projectiles struck the heart of Saudi Arabia’s oil facilities, disrupting about 50 percent of the country’s crude output and 5 percent of global oil supply.

The de facto ruler of Saudi Arabia then called it an act of war along with U.S. Secretary of State Mike Pompeo, both of whom accused Iran, Saudi Arabia’s archrival in the region, of being behind the September 14 attacks.

France, Germany, and Britain have also blamed Tehran for the attack.

Iran denies involvement while the Yemeni-based Huthi rebels claimed responsibility for the incident.

However, the crown prince said he would prefer a political solution over a military one because the latter would lead to the collapse of the global economy.

“The political and peaceful solution is much better than the military one,” he said.(