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Energy Minister Perry expects a "coalition effort" to stop Iran's "evil activities"



US. Energy Secretary Rick Perry said it was time to form a coalition of countries to tackle Iran's "malicious" activities.

"It's a time when a coalition of tame and thoughtful energy producers and energy consuming countries is gathering to stop Iran's vicious activities," Perry told CNBC's "Squawk on the Street" on Monday.

Perry's comments follow a series of drone strikes on oil factories in Saudi Arabia that caused the world's biggest disruption of oil supply in history.

Over the weekend, an oil processing plant was attacked in Abqaiq and the nearby Khurais oil field, destroying 5.7 million barrels or half of daily crude oil production. The attacks caused an increase in Brent Crude Futures and WTI Futures (West Texas Intermediate).

Although it has not been confirmed that Iran was responsible for the drone strike, the Saudi military coalition said on Monday that the attack on Saudi Arabian oilseed plants was carried out with Iranian weapons and, according to preliminary findings, was not from Yemen

President Donald Trump suggested that Iran play a role in the attack, and Foreign Minister Mike Pompeo blamed Iran for the drone attacks, saying on a Saturday's tweet that Iran had launched an "unprecedented attack on the world's energy supply." Perry's comments to CNBC reflected a similar assumption about Iran's involvement.

"It is time for us to send out the message worldwide that Iran should not act as it does and attack oil supplies to try to disrupt the global economy," Perry said.

"I think there will be a coalition effort, our two friends in the Middle East, who understand that having a crazy neighbor is a real problem," he added.

The international benchmark index futures rose 1

0.5% on Monday to $ 66.58 a barrel. Futures climbed 10% on Monday to $ 60.43.

Following the attack, Trump approved the release of oil from the Strategic Petroleum Reserve (SPR), the national emergency oil reserve. Perry said it was too early to say if the US needed to use its crude oil reserves to offset the oil price hike.


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