Saudi Crown Prince warns of 'unimaginably high' oil prices, says war with Iran would gut world economy
Saudi Arabia's crown prince Mohammed bin Salman has warned that oil prices could rise to "unimaginably high numbers" if the world does not act to deter Iran.
Mohammed bin Salman said a war between Saudi Arabia and Iran would ruin the global economy, following an attack on its oil facilities two weeks ago which it blames on Tehran.
"If the world does not take a strong and firm action to deter Iran, we will see further escalations that will threaten world interests," Reuters quoted the crown prince as saying at the CBS program.
"Oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven't seen in our lifetimes."
The crown prince said he agreed with US Secretary of State Mike Pompeo that the September 14 attacks, which damaged the world's biggest petroleum-processing facility and knocked out more than 5 per cent of global oil supply, were an act of war by Iran.
But he said he preferred a peaceful resolution because a war between Saudi Arabia and Iran would collapse the global economy, Reuters reported.
The United States, European powers and Saudi Arabia have blamed the attacks on Iran. Tehran has denied any involvement. Instead, the Iran-aligned Yemeni Houthi rebel group claimed responsibility.
"The political and peaceful solution is much better than the military one," he said.
The crown prince also said US President Donald Trump should meet with Iranian President Hassan Rouhani to craft a new deal on Tehran's nuclear program and influence across the Middle East.
Efforts to bring the two together last week at the United Nations General Assembly failed. Tensions between Washington and Tehran have escalated over the US withdrawal from an Iranian nuclear deal and its reinstatement of sanctions against Tehran.
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