Oil

Trump suggests Iran is lying about not striking Saudi oil facilities — 'We'll see?'

President Donald Trump on Monday signaled Iran is not telling the truth about the drone attacks on Saudi Arabia's largest oil facilities.

Trump was referring to an Iranian surface-to-air missile that shot down a U.S. military surveillance drone in June. Iran said the drone violated its airspace, but the U.S. said the aircraft was in international airspace.

The president's comment came after an oil processing facility at Abqaiq and the nearby Khurais oil field were attacked on Saturday, knocking out 5.7 million barrels of daily crude production or more than 50% of the kingdom's global daily exports.

Trump said Sunday that the United States is "locked and loaded" but his administration is waiting on the Saudis to determine who launched the strikes before proceeding on a course of action.

Secretary of State Mike Pompeo has blamed Iran for the drone strikes, saying in a tweet Saturday that Iran has launched an "unprecedented attack on the world's energy supply."

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Oil stocks soared after a Saudi oil facility attack — Five pros on oil

Oil prices surged the most in history after the attacks with Brent crude futures posting their biggest intraday jump ever.