Perry confident energy market 'will rebound positively' after Saudi oil attack

Perry confident energy market 'will rebound positively' after Saudi oil attack
© Greg Nash

Energy Secretary Rick PerryJames (Rick) Richard PerryOvernight Energy: Watchdog warns of threats to federal workers on public lands | Perry to step down on December 1 | Trump declines to appear in Weather Channel climate special Perry to step down on December 1 Here's what to watch this week on impeachment MORE on Monday voiced confidence in energy markets that he said were "resilient" after oil prices spiked following weekend attacks on Saudi oil facilities. 

It's unclear who carried out the attacks; Yemen's Houthi rebels have claimed responsibility for the strikes while the Trump administration has blamed Iran, arguing that intelligence suggests the attacks, which it says was carried out by drones and cruise missiles, couldn't have been launched from Yemen.

The attacks affected roughly 5 percent of the global crude output, prompting oil prices to surge as trading opened Monday.


“Despite Iran’s malign efforts we are very confident that the market is resilient and will respond positively,” Perry said in a speech to the International Atomic Energy Agency’s General Conference, according to Reuters

He also reiterated Trump's announcement that the U.S. is prepared to use its emergency oil reserve in response to the attacks.

President TrumpDonald John TrumpTrump says he doesn't want NYT in the White House Veterans group backs lawsuits to halt Trump's use of military funding for border wall Schiff punches back after GOP censure resolution fails MORE has authorized the release of oil from the Strategic Petroleum Reserve if that is needed. And my department stands ready to respond,” Perry said.

Secretary of State Mike PompeoMichael (Mike) Richard PompeoDiplomat who raised Ukraine concerns to testify in Trump impeachment probe Overnight Defense: Trump weighs leaving some troops in Syria to 'secure the oil' | US has pulled 2,000 troops from Afghanistan | Pelosi leads delegation to Afghanistan, Jordan Mulvaney faces uncertain future after public gaffes MORE on Sunday was the first to accuse Iran of being behind the attacks. Tehran has denied the allegations while the Houthis have claimed they may strike again.

“The United States wholeheartedly condemns Iran’s attack on Saudi Arabia and we call on other nations to do the same. This behavior is unacceptable," Perry said. "It’s unacceptable and they must be held responsible. Make no mistake about it. This was an attack on the global economy and the global energy market.”