Saudi's crown prince warned oil prices could go 'unimaginably high' unless 'firm action' is taken on Iran

Associated Press

• Saudi's Crown Prince, Mohammad bin Salman, said that Iran's strikes on two Saudi Arabian oil facilities earlier this month were an act of war, and in turn could send oil prices jumping if the dispute is not resolved. 
• In an interview with CBS' 60 Minutes, bin Salman said that the strikes were an act of "stupidity" and that "only a fool would attack 5% of global supplies."
• The Crown Prince also said that a rise in the dispute could disrupt 30% of global energy supplies, which he said would mean "a total collapse of the global economy."
• Two Saudi Arabian oil facilities were hit by strikes earlier this month, temporarily disrupting 5% of the world's oil supplies, at the time sending oil prices up 20%.
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Mohammed bin Salman, Saudi's Crown Prince, warned that global energy supplies could be disrupted over the country's dispute with Iran, with oil prices jumping "to unimaginably high numbers."

The Saudi leader, in an interview with CBS' "60 Minutes" on Sunday, also said that the dispute with Iran could escalate — and would threaten the global economy. 

See the rest of the story at Business Insider

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