Oil prices soar more than 10 per cent after Saudi plant attacks
Hong Kong: Oil prices surged more than 10 per cent Monday after attacks on two Saudi Arabian plants that slashed output in the world's top producer by half, with Donald Trump blaming Iran and raising the possibility of a military strike on the country.
West Texas Intermediate jumped 10.68 per cent to USD 60.71 and Brent climbed 11.77 per cent to USD 67.31 in early Asia trading following the blasts at facilities run by state-owned giant Aramco.
The attack by Tehran-backed Huthi rebels in neighbouring Yemen, where a Saudi-led coalition is bogged down in a five-year war, effectively shut down six percent of the global oil supply.
Brent soared almost 20 per cent at one point on Monday, while WTI surged around 15 per cent before paring the gains.
Trump said Sunday the US was "locked and loaded" to respond to the attack, while Secretary of State Mike Pompeo said: "The United States will work with our partners and allies to ensure that energy markets remain well supplied and Iran is held accountable for its aggression."
Tehran denies the accusations but the news has revived fears of a conflict in the tinderbox Middle East after a series of attacks on oil tankers earlier this year that were also blamed on Iran.
"Tensions in the Middle East are rising quickly, meaning this story will continue to reverberate this week even after the knee-jerk panic in oil markets this morning," said Jeffrey Halley, senior market analyst at OANDA.
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I need not indulge in any revolution, have confidence, hope: D K Shivakumar
Bengaluru (PTI): Amid the ongoing power tussle within the ruling Congress in Karnataka for the CM post, Deputy Chief Minister D K Shivakumar on Tuesday said he is with "utmost patience", and he has no need to indulge in any kind of revolution, as he believes in himself and has hope.
Asserting that he is neither interested in any kind of blackmailing for selfishness, nor is he interested in causing any trouble for the Congress, Shivakumar, who is also its state unit chief, said, though a "street fighter", his fight is never within the party.
Amid claims that Chief Minister Siddaramaiah was using state intelligence to keep a tab on Shivakumar's camp through phone tapping during the ongoing power tussle, he stated that he doesn't know about it, and pointed out that the CM and Home Minister G Parameshwara have made statements on the issue.
"To this day, I have not spoken about the CM issue at any point. On matters concerning us, it is between me, the CM and the party high command. I have only said that we are party to the decision that has happened, other than that I have never said anything else," Shivakumar said in response to a question.
Speaking to reporters here, he said, "Others have been saying the post will become vacant, Dalits should get the post, others should get it. It is others who want the CM post to become vacant, wanting it to be given to Dalits and others. I have never spoken about it. Only if the post is vacant can it be given to anyone else. I have never spoken about the post becoming vacant."
Noting that he is the Congress state president, Shivakumar said he is aware of that responsibility and has always tried to ensure that no harm is caused to the party because of him and that discipline is not violated.
"Being the president of the party, sitting in this chair, no one should point out to me that I have done injustice from this position, killing the party. I don't want anyone to pass such comments against me in the future. So, I'm with utmost patience, I know what is all happening, whether it is right or wrong. I'm aware of it," he said.
Highlighting that the Congress party was built, nurtured and sacrificed for by a number of workers and leaders, including him, he doesn't want lakhs of party workers to be troubled because of him.
"They (workers) have made us sit in power. Neither am I interested in indulging in any kind of blackmail for my selfishness, nor am I interested in causing any trouble for the party," he added.
Replying to a question about his hesitation to comment on the CM change issue and when it might happen, Shivakumar merely said, "Time will answer, and decide."
He, however, did not wish to respond to reports about party leadership, including AICC President Mallikarjun Kharge, top leader Rahul Gandhi and General Secretary K C Venugopal having held a discussion on the leadership issue in Karnataka. "I don't know. I haven't spoken or asked anyone," he added.
Shivakumar, who is hosting a dinner party for party legislators on March 10 to mark his six years as Karnataka Pradesh Congress Committee (KPCC) President, responded to a question about his continuation in the post by saying, "New blood should come, youngsters should come with fresh ideas."
"(Ministers) Parameshwara, H K Patil, Ramalinga Reddy and I became Ministers during our first term as MLAs. Our term is over, we are senior citizens, and new people should come....enough for me six years (as KPCC chief), others should also get an opportunity," he said.
Questioned whether he was speaking like a "Yogi," he said, "I'm a street fighter....I have come so far fighting; I know how to fight, but not for power. My fight is not within the party; I will fight outside the party. If anyone thinks I'm quiet, it is left to them."
Asked whether there will be some "Kranti" (revolution) after the budget, he said, "I need not do any Kranti. I have belief in myself, I have self-confidence. I always have hope.....I need not put in any effort; whatever has to come to me, it will come at the appropriate time. I have that confidence. I will meet you soon."
Responding to a question about Siddaramaiah's statement -- that if the BJP and JD(S) leaders have any "evil idea" to woo Shivakumar, it is their "daydream" -- the Deputy CM said, "He (the CM) said that out of his experience, he has seen me closely both when he was in another party and after joining Congress."
Asked whether there were any attempts by BJP and JD(S) to woo him, he said, "I will write a story about it some other time.....why speak about it now."
To a question, whether he accepts Siddaramaiah describing the bond between them as "milk and honey", Shivakumar said, "Of course. It was the same earlier, it is the same now, and it will be the same in 2028."
When pointed out that the bond between him and the CM doesn't seem to be cordial amid the ongoing power tussle, and after listening to some legislators supporting him, he said, "I want to request all the legislators, if they have any desire, that good things should happen to me, please keep quiet."
Accusing the opposition leaders of trying to "sour the relationship" between him and Shivakumar, Siddaramaiah, earlier in the day, while rejecting phone tapping allegations, had asserted that such actions would not affect their relationship, which he described as being like "milk and honey."
