Uncertainty in global market; Trump to deploy patriot missile battery in Saudi Arabia

US has also issued additional forces on Prepare To Deploy Orders (PTDO) for two Patriot Batteries and a Terminal High Altitude Area Defense system (THAAD). The USA on Wednesday also imposed sanctions on Chinese firms and individuals for transporting Iranian oil. In what may exacerbate the tensions in the Persian Gulf and add to the growing uncertainities in global energy markets, the Donald Trump administration plans to deploy an additional patriot missile battery, four sentinel RADARS and additional personnel to Saudi Arabia.

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Oil prices settle after turbulent week as Saudi Arabia reassures on output

Oil prices edged higher in early Asian trade on Thursday after days of turbulence, with markets soothed by Saudi Arabia’s pledge to restore full production by end-September at facilities knocked out in drone and missile attacks last weekend. Brent crude futures rose 8 cents to $63.68 a barrel by 0139 GMT while U.S. West Texas Intermediate (WTI) crude was up 12 cents to $58.23 a barrel.

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Arabia’s options after unprecedented attack on its oil infra

A predawn attack on the heart of Saudi Arabia’s energy industry knocked out half of the country’s oil production and raised the prospect of retaliation. The U.S., without providing evidence, blamed the strike by a swarm of armed drones on the kingdom’s arch rival Iran. Iran has denied the allegation, but Yemen’s Iran-backed Houthi rebels, who have been battling a Saudi-led coalition for more than four years, have claimed responsibility. What are Crown Prince Mohammed bin Salman’s options and which is he likely to deploy?

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Indian rupee, bond prices fall on jump in global crude prices

The Indian rupee and government bond prices fell on Monday as a surge in global crude prices following a drone attack on Saudi Arabia’s oil facilities stoked inflationary and fiscal slippage concerns.

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