Petrol at UK pumps may leap 5p a litre after two Saudi Arabian oil facilities were bombed, an expert warns.
Fires started by Saturday’s unmanned drone strike on Abqaiq oil processing plant and Khurais oil field has halved the kingdom’s crude oil production.
With 5.7 million fewer barrels a day there are fears the price for each will rise from £48 to £64.
Andrew Lipow, of consultants Lipow Oil Associates, predicted a 5p rise per litre of petrol and added: “This is a big deal.”
US Secretary of State Mike Pompeo blamed Iran for “an unprecedented attack on the world’s energy supply.”
Iran denied it was behind the raids.
"Such accusations, as well as blind and futile comments, are pointless," said Foreign Ministry spokesman Abbas Mousavi.
Iran’s Foreign Minister Mohammad Javad Zarif tweeted: "Having failed at "max pressure”, Secretary Pompeo's turning to "max deceit."
“US and its clients are stuck in Yemen because of illusion that weapon superiority will lead to military victory.
“Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may."
UK Foreign Secretary Dominic Raab tweeted: “This was a reckless attempt to damage regional security and disrupt global oil supplies. The UK condemns such behaviour unreservedly.”
Drones struck the oil processing facility in Saudi Arabia and a major oilfield operated by Saudi Aramco on Saturday, sparking a huge fire at the processor crucial to global energy supplies.
The Kingdom's official news outlet, the Saudi Press Agency, said no workers were injured.
It said the attack would reduce production at Khurais and Abqaiq facilities by half.
Saudi Arabia said the strikes had reduced crude oil production by 5.7 million barrels a day - about half the Kingdom's output.
