Give me context. Saudi Arabia shut down half of its oil production (~5% of global production) following air attacks on Saudi’s oil facilities. This led to a rise in oil prices which is expected to cause an imminent rise in the price of gasoline
Who did this?
The US and Saudi Arabia said that physical and satellite evidence show this attack came from Iran. Guess what! Iran denies.
Why would Iran attack?
Well… Iran hates the US and its ally, Saudi Arabia.
The US thinks Iran is building nuclear weapons and imposed economic sanctions in Iran (with the sanctions almost all trade relations with Iran are prohibited, making its economy to collapse).
Also, Iran and its neighbor Saudi hate each other for…
- Economic reasons: Both countries compete in the oil production.
- Political reasons: Both want to be the most influential in the region.
- Religious reasons: While Saudi is the main sunni country, Iran is the biggest shiite one.
It’s still all in the air but.. Trump said:
I’m increasing sanctions on Iran.
The UK, France, and Germany also blamed Iran for the attack.
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