Saudi Arabia Reveals New Terror Plot Linked To Syria, Yemen

Saudi Arabia has called for an urgent meeting of Arab foreign ministers next week to discuss developments in Syria just days after it revealed a terror plot it said was linked to Syrian and Yemeni Jihadist extremists.

The Saudi authorities said on 6 May that a wide network of terror suspects linked to al-Qa’ida had been dismantled and 62 people arrested.

The news failed to rattle oil markets. This sanguine reaction may reflect US immunity to any hint of trouble in the kingdom as US oil output continues to rise. This is in stark contrast to the oil market’s reaction to the last serious attempt to disrupt oil flow from Saudi Arabia, the world’s largest oil exporting nation and holder of the largest conventional oil reserves globally.

In 2006, oil prices spiked sharply higher following a failed attempt by an al-Qa’ida linked group to attack the Abqaiq oil processing facility in the Eastern Province. (CONTINUED - 590 WORDS)