Saudi Arabia

Oil prices and stock indexes were in freefall Sunday after Saudi Arabia announced a stunning discount in oil prices — of $6 to $8 per barrel — to its customers in Asia, the United States and Europe.

New York Stock Exchange trading was halted temporarily after indexes plunged 7% in reaction to Saudi Arabia's oil price cut amid increasing fears over the coronavirus epidemic's economic impact.

The Pentagon has suspended operational training of all Saudi Arabian military students indefinitely, as federal investigators conduct a security review of the more than 800 Saudi students in the U.S.

The Saudi gunman who killed three people at the Pensacola naval base had apparently gone on Twitter shortly before the shooting to blast U.S. support of Israel and accuse America of being anti-Muslim, a U.S. official said Sunday as the FBI confirmed it is operating on the assumption the attack was an act of terrorism.

The Pentagon on Friday announced it will deploy additional U.S. troops and missile defense equipment to Saudi Arabia and the United Arab Emirates, as President Donald Trump has at least for now put off any immediate military strike on Iran in response to the attack on the Saudi oil industry.

It's the largest one-day surge in crude prices in years. Yemen's Iranian-backed Houthi rebels claimed responsibility for the strikes, but the U.S. says Iran played a key role. Iran denies involvement.

Oil prices dropped below $60 a barrel on Black Friday, the lowest price in a year. While President Trump credits Saudi Arabia for what he says amounts to a "tax cut," the reality is more complicated.