Trump threatens to retaliate after attacking Saudi Arabia

The markets have already reacted with a high degree of nervousness, and politically, recent developments in Saudi Arabia could also have massive consequences. After drone strikes on the country's largest oil refinery, US President Donald Trump threatened the creators with a retaliatory strike.

However, he made no statement as to who the US considers the author of the attack. His foreign minister, on the other hand, had a fairly clear position over the weekend.

Trump wrote on Twitter: "There is reason to believe that we know the culprit." The US stood rifle on foot ("locked and loaded"), but waited for a confirmation and on information from the Saudi leadership, whom they held responsible for the attack and under what conditions should be taken.

Saudi Arabia oil supply was attacked. There are reasons to believe that we have come to an end, and that we are proceeding to do it.

On Saturday, US Secretary of State Mike Pompeo had already blamed Iran for the attacks in Saudi Arabia, even though the Houthi rebels in neighboring Yemen had expressly agreed to this. Tehran denied any involvement.

Tehran is behind nearly 100 attacks on Saudi Arabia while Rouhani and Zarif pretend to engage in diplomacy. Amid all the calls for de-escalation, Iran has now launched an unprecedented attack on the world's energy supply. There is no evidence the attacks came from Yemen.

Trump takes back his own statement - and attacks media

The latest escalation makes talks between Iranian and US leaders increasingly unlikely. Trump denied Trump on Sunday evening (local time) on Twitter then also his own statement, after which he was ready without preconditions for a meeting with the Iranian leadership.

A few minutes after his first tweet, Trump wrote that media reports that he was "unconditionally" prepared to meet the Iranian leadership were "as usual" wrong. Trump himself, however, had said several times himself that he was ready for such a meeting without preconditions. Only last Tuesday, Pompeo had again stressed that Trump was ready for a meeting without preconditions. In fact, this attack against the media can not be justified.

The economic effects are already clearly noticeable. Rising oil prices are threatening on the markets, because the state-owned Aramco has to reduce its production. Donald Trump announced on Sunday the release of oil from the US reserves. To what extent this should happen, should still be determined.

Oil is rapidly becoming more expensive - consequences are not yet foreseeable

In the markets, oil has already become significantly more expensive after the attacks. At the market opening on Sunday, the price of the North Sea Brent variety jumped by more than 19 percent to $ 71.95 a barrel (1 barrel = 159 liters). The price of a barrel of US light oil climbed more than 15 percent to $ 63.34.

For the time being, according to Saudi data, the production of 5.7 million barrels of oil per day is falling - equivalent to five percent of global production. According to an insider, it may take "weeks rather than days" to reach full capacity again. Nevertheless, given the high stocks of Saudi Arabia, exports are expected to continue as usual.

The Saudi Arabian Ministry of Energy said the weekend had a temporary effect, partly compensated by the supply of existing oil reserves in the market.