Bloomberg) -- Oil ramped higher after further attacks by Iran and its proxies on U.S. and Saudi assets in the Middle East prompted President Donald Trump to warn the Islamic Republic had made “a very big mistake.”
Front-month futures in New York were up 1.8%, after surging 5.4% on Thursday after Iran shot down an American drone just a week after two tankers were targeted in the region. Meanwhile, Iran-backed Houthi rebels in Yemen said they hit a Saudi Arabian power plant with a cruise missile, at least the third such attack on the kingdom’s infrastructure in a week.
Trump appeared to downplay the Iranian drone downing, saying a “loose and stupid” individual -- rather than Iran’s top leaders -- may have been culpable.
GOP leaders react to Iran drone attack: "There must be a measured response to these actions"
Republican Reps. Kevin McCarthy, Michael McCaul, Devin Nunes and Mac Thornberry called for a "measured response" following Thursday's drone attack by Iran.
The lawmakers, who were briefed on the attack at the White House Thursday, issued this statement:
“Iran directly attacked a United States asset over international waters. This provocation comes a week after they directly attacked and destroyed two commercial tankers in international waters. There must be a measured response to these actions. President Trump and his national security team remain clear-eyed on the situation and what must be done in response to increased Iranian aggression. In Congress we stand ready to support our men and women in uniform, our country, and our allies in the region.”
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