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US Pres. Trump announces in tweet that......>

MIDEAST
MIDEAST: US Pres. Trump announces in tweet that sanctions on Iran will
"substantially increase".
- Follows in the wake of drone attacks on Saudi oil fields and processing
facilities on Saturday. 
- Saudi gov't expecting to present "material evidence" that Iran was involved in
the attacks according to the defence ministry. 
- While clearly an escalation in pressure on Iranian gov't finances the fact
Trump is using sanctions - rather than any overt military action or offering
military support to Saudi - can be seen as a sign, for now, of preference for
diplomatic approach rather than risking conflict. 
- Iranian gov't could boycott UN meeting in NY next week, would scorch any
thoughts Trump administration had for bilateral talks with Iranian leaders. 
- Attacks saw oil prices spike up to 18% before a pullback once Trump announced
use of Strategic Petroleum Reserve to plug supply gap and Saudi's said
facilities would be back online in 2-3 weeks. 

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