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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Fake IAS officer among 5 held at Indo-Nepal border attempting to cross sides
Bahraich (UP) (PTI): Five persons, including a man posing as an IAS officer, were arrested by the Sashastra Seema Bal (SSB) at the India-Nepal Rupaideha border in Bahraich district while allegedly attempting to enter the neighbouring country in a vehicle that had a red-blue beacon and hooter, police said on Monday.
Circle Officer of Nanpara, Pahup Kumar Singh, told reporters that the incident occurred around 7.30 pm on Sunday when an Innova Crysta with a Uttar Pradesh registration plate and flashing beacon was stopped by SSB personnel at the border during routine checks.
During questioning, one of the occupants identified himself as Dharmendra and claimed to be an IAS officer posted at the Lucknow Secretariat.
However, the SSB, Rupaideha police and other security agencies conducted a detailed inquiry and found that none of them was an IAS officer, nor were they authorised to use a red-blue beacon, the officer said.
The vehicle was registered in Lucknow in the name of a firm, Priya Agencies, owned by the wife of the accused Dharmendra, he added.
The arrested persons were identified as Dharmendra Singh, Shubham Bajpai, Anmol Singh, Sachin Singh and Swapnal Sahay, all residents of Lucknow.
During interrogation, they admitted they were heading to casinos in Nepal to gamble.
Police recovered Rs 2.17 lakh in cash, six mobile phones, an electronic chip device and a power bank from their possession. A case has been registered against them under Section 319 of the Bharatiya Nyaya Sanhita, and further investigation is underway, Singh said.
