Saudi Crown Prince Warns That War With Iran Would Collapse The World Economy And Oil Prices Will Reach 'Unimaginably High Numbers'

ABC News Online: Saudi Arabia's crown prince warns oil prices could spike to 'unimaginably high numbers' if Iran isn't stopped

Saudi Arabia's Crown Prince Mohammed bin Salman warns that oil prices could spike to "unimaginably high numbers" if the world does not come together to deter Iran, but says he prefers a political solution to a military one.

n an interview with America's 60 Minutes broadcast on Sunday, Prince Mohammed also said he agreed with US Secretary of State Mike Pompeo that the September 14 attacks, which damaged the world's biggest petroleum-processing facility and knocked out more than 5 per cent of global oil supply, were an act of war by Iran.

The United States, European powers and Saudi Arabia have previously blamed the attacks on Iran, but Tehran has denied any involvement. Instead, the Iran-aligned Yemeni Houthi rebel group claimed responsibility.

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WNU Editor: 20% of the world's oil supplies travels through the Persian Gul. Any disruption will mean huge price increases and shortages, and a massive hit on the global economy. For developing nations who are dependent on energy supplies to grow and develop their econopmies, this will be a disaster.

More News On Saudi Crown Prince Salman's Warnings That War With Iran Would Collapse The World Economy

Saudi crown prince warns of 'Iran threat' to global oil -- BBC
Saudi Arabia's MBS: War with Iran would collapse global economy -- Al Jazeera
Oil will hit levels ‘we haven’t seen in our lifetimes’ if Iran isn’t stopped, Saudi crown prince says -- CNBC
Saudi crown prince warns of escalation with Iran, prefers political solution -- Reuters
Saudi prince warns of 'unimaginable' oil prices -- DW
Saudi prince warns regional war with Iran could lead to 'total collapse of global economy' -- The Telegraph
Saudi Crown Prince says he 'takes full responsibility' for the death of Jamal Khashoggi during interview with 60 Minutes but denies ordering journalist's murder, before laying into 'stupid' Iran for drone attack on his country's oil facilities -- Daily Mail
Saudi Arabia predicts huge spike in oil prices if no global action is taken ‘to deter Iran’ -- RT
Highlights from this week's Mohammad bin Salman interview on "60 Minutes" -- 60 Minutes (CBS)

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