Iran rules out talks as Trump blames Tehran for Saudi oil attack

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Iran denied it lost a drone.

"The policy of "maximum pressure" against the Iranian nation is worthless and all Islamic Republic of Iran officials unanimously believe there will be no negotiations with the USA at any level", Khamenei said, referring to the US' latest strategy on Iran.

"As the president said, we don't want war with anybody but the United States is prepared", Vice President Pence said in a speech to the Heritage Foundation think tank in Washington.

Strains between Washington and Tehran have risen more in recent months after attacks on tankers in the Gulf that the United States blames on Tehran, and Iran's downing of a USA military drone that prompted preparations for a retaliatory air strike that Trump says he called off at the last minute.

Some strikes have been claimed by Yemen's Houthi rebels, who have been battling a Saudi-led coalition in the Arab world's poorest country since 2015. The president told supporters in New Mexico that he is weighing his options, one day after tweeting that the U.S.is "locked and loaded". "We want to find definitively who did this", he said.

Chancellor Angela Merkel and British Prime Minister Boris Johnson discussed the attacks over the telephone on Tuesday, agreeing on "the need to work together, alongside global partners, to agree a collective response", according to a Downing Street statement.

German Chancellor Angela Merkel said the Iran nuclear pact, which European parties are trying to salvage, is one building block "we need to get back to".

As authorities probe the Saudi attack, they'll rely on forensic examination of the weapons used to determine what actually struck the site.

The halt of 5.7 million barrels day of the kingdom's production - the worst sudden supply loss in history - exposed the inadequacy of the rest of the world's supply buffer.

The American Automobile Association, known as AAA, said Americans can expect local pump prices to start to increase this week by as much 25 cents per gallon throughout September, but that how long the higher price lasts for depended on how quickly Saudi Arabia could restore production. The attacks knocked out half of the Saudis' production, or roughly 5% of the world's output, and a fast recovery would help soothe markets.

Saturday's incident resulted in a five per cent cut in daily global oil production as over 5 million barrels of oil were destroyed.

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Saudi Arabia said it would be able to meet oil customers' demand from its ample storage, although some deliveries had been disrupted.

He said the company was in the process of bringing back oil refining to full capacity and that there were enough crude products to supply the local markets. Prices fell after the United States said it would release US emergency supplies and producers said there were enough global stocks.

Aramco, however, will supply the same volumes and grades to PetroChina in October as requested by the Chinese state oil firm. However, dollar-denominated bonds issued by the Saudi government and Aramco rebounded on Tuesday, in a sign investors' concern may be abating.

Aramco has been preparing for an initial public offering (IPO) stock market launch, even naming a new chairman and mandating nine banks in top roles.

Yemen's Iran-backed-Houthi militants claimed responsibility for Saturday's attacks but Saudi Arabia accused Iran and President Donald Trump also singled out Tehran.

Saudi Arabia, which has bought huge quantities of U.S. weaponry, is considered a strategic ally in the region, second to Israel, another bitter foe of Iran.

Riyadh asked worldwide experts to join its investigation, which indicates the attack did not come from Yemen, the foreign ministry said.

"Without this, no negotiations will happen at any level between the Islamic Republic of Iran's officials and the Americans, not during the visit to NY or any other visit", he said.

Secretary of State Mike Pompeo has said "there is no evidence the attacks came from Yemen" and questions remain about the staging site, although the USA has pointed the finger at Iran.

"The attack on Saudi Arabia is a risky escalation in itself", senior foreign ministry official Anwar Gargash tweeted. Iran has denied any involvement in the attack.

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