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 PerryRick PerrySunday shows preview: Lawmakers gear up for Senate impeachment trial Parnas pressure grows on Senate GOP Overnight Energy: Appeals court tosses kids' climate suit | California sues Trump over fracking | Oversight finds EPA appointees slow-walked ethics obligations 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 TrumpSanders apologizes to Biden for supporter's op-ed Jayapal: 'We will end up with another Trump' if the US doesn't elect progressive Democrats: McConnell impeachment trial rules a 'cover up,' 'national disgrace' 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 PompeoCountries reach agreement in Berlin on Libya cease-fire push, arms embargo Trump Jr.: If 'weaker' Republicans only call for certain witnesses, 'they don't deserve to be in office' House Democrats may call new impeachment witnesses if Senate doesn't 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.”