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When international stock markets open on September 16th, one thing investors around the world are watching is the price of oil. It's crucial for world economies because it's their major source of energy. And a country that's a major supplier of oil saw its oil facilities attacked on Saturday. As many as 10 drones, unmanned aircraft hit oil plants in Saudi Arabia. The kingdom is the world's largest exporter of oil. And the attacks hit the world's largest oil processing facility. Saudi Arabia says no one was hurt, but half of its oil production was disrupted. And that accounts for 5 percent of the worlds daily oil supply.
So as Saudi Arabia rushes to repair the damaged plants, investors want to see if and how this effects oil prices world wide. They'd been relatively low for months but could go up significantly because of this. So, who did it? Houthi rebels in neighboring Yemen say they did. They've been fighting for control of Yemen in that nation's civil war. But Saudi Arabia which supports Yemen's government, has been leading an international fight against the Houthi rebels. So the Houthis say they attacked Saudi Arabia's oil facilities in response. But not everyone's convinced. The U.S. government blames Iran for planning the attack, calling it an assault on the world's energy supply.
Iran does support Yemen's Houthi rebels. But the country says it wasn't involved in the Saudi oil attack and called the U.S. accusation meaningless. Tensions have been soaring between America and Iran since last year when the U.S. pulled out of a controversial nuclear deal with the Middle Eastern nation.
