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Tipsheet

Trump: America Is 'Locked And Loaded' To Deal With Those Who Attacked Saudi Oil Field

AP Photo/Jose Luis Magana

President Donald Trump on Sunday announced his plan to release oil from the Strategic Petroleum Reserve following Saturday's attack at the world's largest oil processing facility and oil field operated by Saudi Aramco. The attack was carried out by Iran-backed Houthi rebels and disrupted roughly five percent of the world's oil supply. 

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Trump said he made the decision to keep the markets "well-supplied" and to keep gas prices from spiking around the globe.

The Strategic Petroleum Reserve is the world's largest crude oil stash, located along various parts of the United States' Gulf Coast.. It was established during the 1970s in response to the Arab oil embargo and has been used a few times throughout history, like during the first Gulf War and following Hurricane Katrina.

Shortly after Trump made the announcement about releasing oil from the reserve, he also said the United States is "locked and loaded" and has "reason to believe that we know the culprit."

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Although Houthi rebels claimed responsibility for the attack, Secretary of State Mike Pompeo placed blame on Iran because "there is no evidence the attack came from Yemen."

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