Trade Brent Crude Oil Spot CFD
Tensions between the two countries rose dramatically this month after drone and missile attacks hit oil facilities in Saudi Arabia, affecting the supply of oil and a temporary spike in oil prices.
Iran has denied any involvement in the attacks and backed claims by Yemen’s Houthi rebels that they launched the strikes.
However, Washington and Riyadh have dismissed suggestions the assault was launched from Yemen, saying the weapons were Iranian and the strikes came from the north.
Prince Mohammed said he hoped that a military response could be avoided, and warned that war between the two countries would have devastating consequences beyond Saudi Arabia.
The attacks on Abqaiq, the world's largest oil processing plant, and Khurais oilfield temporarily knocked out more than half the world’s top exporter’s crude production.