Saudi oil attack’s global aftershocks: Theme of the Week

Bloomberg Opinion Today

Last week's attack on two of Saudi Arabia's most essential oil production facilities wasn't just a blow to the world's oil supply. It also brought into relief the shortcomings and contradictions of U.S. President Donald Trump's foreign policy — as well as the troubling realities of his family's financial conflicts of interest — in the Middle East. With recession signals seeming to grow louder, then softer, and markets easily rattled by random events like the repo market suddenly seizing, the strike made the oil sector even jumpier. Everybody's blaming Iran, which has denied involvement even though the country seems to be the most likely author (or sponsor) of the strike. The threat of further attacks, as well as retaliation, has only heightened fears of a potentially devastating disruption in oil supply. How Saudi Arabia, the U.S. and its Middle East allies will respond still remains mostly unclear; Bloomberg Opinion writers will continue to follow the political and economic consequences.

Trump Should Send Iran a Reality Check – Hussein Ibish

Trump Is Cornered by the Saudi Drone Attacks – Timothy L. O'Brien

Saudi Arabia Has No Excuse for Its Military Failures – Bobby Ghosh

Saudi Attacks Haven't Spooked Oil Enough – Liam Denning

Only Congress Has Authority to Lock and Load on Iran – Ramesh Ponnuru

Does the World Have Enough Oil to Cope With Saudi Attacks? – Julian Lee

Attack on Saudi Arabia Demands a United Response – Bloomberg editors

Yes, Iran Was Behind the Saudi Oil Attack. Now What? – Eli Lake

An Oil Shock Was Just What We Needed in Fed Week – John Authers

It's Hard to Say No to Aramco's IPO – Matt Levine

Mike Pompeo Just Ended Any Hopes for Iranian Oil – Julian Lee

Saudi Attack Makes Electric Vehicles Even More Important – Noah Smith