On Sunday, President Trump suggested that US investigators had "reason to believe" that they knew who was launching curling attacks against a major Saudi oil plant, promising that America was "locked and loaded depending on confirmation."
While he did not state who he believed was responsible for Saturday's drone attack, US investigators have previously pointed their finger at Iran.
"Saudi Arabia oil supply was attacked. There is reason to believe we know the culprit, is locked and loaded depending on confirmation, but is waiting to hear from the kingdom about who they believe was the cause of this attack, and below what terms we want to continue! ”the President tweeted.
Earlier Sunday, Trump authorized the use of emergency oil reserves in Texas and other states after the Saudi oil processing plant was attacked, sparking fears of an increase in oil prices as markets reopened on Monday.
The President wrote that he had authorized the release of oil from the Strategic Petroleum Reserve, "in a specific provision sufficient to keep the markets well supplied."
He continued, "I have also informed all relevant agencies to speed up approvals of the oil pipelines currently in the permitting process in Texas and various other states."
The Saudi oil sites that were attacked on Saturday interrupted around 5.7 million barrels of crude oil production, over 5 percent of the world's daily supply.
Yemen's Iran-backed Houthi rebels have claimed responsibility for the drone attack, but the United States has accused Iran of launching the attack. Tehran has refused any involvement and called the allegations "maximum lies."
Strategic Petroleum Reserve, located in Texas and Louisiana, is the largest state-owned stock of emergency oil in the world, according to the Department of Energy, which manages the supply.
The emergency reserve was established in the mid-1970s amid rising gasoline prices sparked by the Arab oil embargo. Under US law, presidents can authorize the use of reserves if a major disruption threatens the economy.
DEFIANT IRAN BLASTS POMPEO & # 39; S SAUDI-ATTACK ACCUSATIONS AS & # 39; BLIND AND FUTILE COMMENTS & # 39;
The federally owned petroleum reserve of hundreds of millions of barrels of crude oil has been dropped just three times, most recently in 2011 amid unrest in Libya.
"This president and his national security team, Secretary of State (Secretary of State Mike) Pompeo – our nation's chief diplomat – hold many alternatives on the table, especially with regard to retaliation for malicious behavior, and to protect American interests and Americans and our American economy," said Kellyanne Conway, President Trump's adviser, on "Fox News Sunday."
The attack, while further escalating tensions in the Middle East, where hostilities between Iran and the United States have been at an all-time high over the former's nuclear ambitions. President Trump has pulled the United States from an Obama-era nuclear deal that sought to lift sanctions in exchange for curbs on Iran's nuclear ambitions.
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President Trump on Sunday also mocked "Fake News" for reporting that he was willing to face Iran with "No conditions." While Secretary of State Mike Pompeo and Secretary of State Steve Mnuchin recently said Trump and Rouhani could meet without preconditions, Trump himself said on Monday just that a meeting "could happen. It could happen. No problems with me."
Saturday's attack made no immediate impact on global oil prices since markets closed this weekend, but some analysts have warned that oil prices may rise as markets reopen on Monday.
Fox News & # 39; Bill Hemmer, Stephen Sorace and The Associated Press contributed to this report.