Suicide Bomber Blows Himself Up In Front Of US Consulate In Saudi Arabia

After last night's massive suicide bombing in Baghdad which killed over 100, and which ISIS took responsibility for, we doubt the Islamic State will be just as quick to take credit for tonight's latest terrorist attempt, this time in the Saudi Arabian city of Jeddah, where a suspected suicide bomber was killed in front of the US consulate.

As the Saudi Gazette reports, security authorities have raised the alert in Jeddah to the maximum after a suicide bombing attempt in which an individual blew himself up inside a car in front of the US Consulate in Jeddah.

According to Sabq sources two diplomatic security personnel were injured in the blast. They were rushed to the hospital. Security forces in Jeddah surrounded the area and enforced a lockdown where the consulate is located. Security forces are following up on the situation.

BBC adds that two policeman were reportedly injured in the incident and the attacker is said to be dead. The attack came in the early hours of US Independence Day. The Jeddah consulate was the scene of a militant attack in 2004, which left nine people dead.

The attack coming on July 4 is hardly a coincidence.

For now, the market is not reading too much into it, with WTI up just 2 cents; if anything it is silver which is surging which as of moments ago just hit limit up in Shanghaim, surging by 6%.