Manila Bulletin | Oil Rises as Saudis Cut Ties With Iran After Embassy Attacked Bloomberg “It may be seen by the market as an incremental step in a possible longer-term escalation of problems in the core oil-producing nations of Saudi Arabia and Iran,” Ric Spooner, a chief analyst at CMC Markets in Sydney, said by phone. “It's likely to ... Oil prices rise after Saudi Arabia cuts ties with Iran Asia stocks, currencies sink, oil surges on Mideast woes Oil Rises As Saudi Arabia Severs Ties With Iran |