Saudi horror sparks fears of oil crisis: "Oil analysts in London and Washington warned of severe repercussions. Economists called the attack their worst nightmare come true.
It could send oil prices above $42 a barrel, pushing the average price of petrol in Britain beyond the -4-a-gallon barrier. The rise would renew fears of a world energy crisis not seen since the early Seventies. Prices have already risen amid fears Saudi Arabia would be unable to defend its oil industry from terrorists.
Repeated attacks could push oil prices above the economically devastating $50 a barrel, City experts warn.
The attack came only days after a senior Saudi al-Qaeda leader, Abdulaziz al-Muqrin, unveiled a plan for an urban guerrilla war in the kingdom. Saudi security sources have admitted the destabilising influence of neighbouring Iraq, complaining of a steady traffic across the border in arms and other material to terrorist groups.
By yesterday al-Muqrin's orders had already been put into practice. Four gunmen in military style dress stormed the Oasis where employees of Shell and the giant US firms Honeywell and General Electric are understood to live. Two cars with military markings drove in and gunmen inside them opened fire indiscriminately at residents. Windows of homes were shot out. Soon afterwards, hundreds of police encircled the compound as helicopters hovered overhead. "
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