Saudi Arabia's crown prince claimed that oil prices may rise to "unimaginable prices" if no one takes action against Iran. This is a huge deal as this could ruin the global economy. These claims are stemming from an attack on two oil facilities two weeks ago. However, Iran continues to deny any involvement which has escalated the entire ordeal. Saudi Arabia is in an interesting situation right now because they can make this into a global issue very easily because of their abundance of oil. The Middle East "represents about 30% of the world's energy supplies, about 20% of global trade passages, and 4% of the world GDP" which means if Saudi Arabia causes these three things to collapse, it will be a total collapse of the global economy as we know it.
https://www.bbc.com/news/world-middle-east-49874807
Ben Williams
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