Oil rises as US orders diplomats to leave Saudi Arabia amid escalating tensions - Reuters
Oil rises as US orders diplomats to leave Saudi Arabia amid escalating tensions - Reuters
Source: Reuters
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DW NOTE
The US is pulling diplomatic personnel from Saudi Arabia while the Strait of Hormuz remains closed and oil sits 14% below its yearly high. If the White House saw this as a temporary flare-up, the embassy would stay open. Evacuation orders mean Washington expects the situation to deteriorate past the point where American presence is defensible — which, in the world's largest oil exporter, is a vote of no confidence in regional stability priced nowhere near adequately into $97 crude.