US President Donald Trump on Friday spoke over phone with Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud on Iran.

The two leaders discussed issues related to Iran and Saudi Arabia's role in ensuring stability in the Middle East and the global oil market, the White House said in a statement.

The ongoing tensions between Washington and Tehran further intensified after the downing of a US military drone by Iran on Wednesday.

Iran claimed the drone had crossed Iranian borders, while US military insisted the drone was shot down in international air space.

The incident and its ramification have led to a surge of oil price in the last 48 hours.

Trump Friday confirmed that he authorized military strikes against Iran in retaliation but called off the operations 10 minutes before they were to be implemented.