Attacks on oil facilities: Iran rejects US accusation as global economy braces itself for oil price spike

WASHINGTON - Iran has hit back at accusations from Washington that it had struck an oil refinery and oil field in Saudi Arabia, as worry mounts that a prolonged spike in oil prices could tip the global economy into recession.

But on Saturday , US Secretary of State Mike Pompeo tweeted:"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." Though Iran has been arming and training the Houthi, there was some scepticism in Washington over Mr Pompeo's claim, especially because it came so soon after the attack.

"The Saudis and Houthis are at war," he tweeted."The Saudis attack the Houthis and the Houthis attack back. Iran is backing the Houthis and has been a bad actor, but it's just not as simple as Houthis=Iran.""This is serious. It will - not could - affect us deeply; to put it bluntly, an oil shortage or steep rise in oil price will rock the Philippine boat & tip it over," Philippine Foreign Secretary Teddy Locsin tweeted.

But some experts are sceptical."There are places which do not have the logistics capability," Dr Paul Sullivan, a Middle East and energy expert at Georgetown University, told The Straits Times. The UN General Assembly in New York next week will be the first opportunity to address the crisis diplomatically.

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