BEIRUT -- King Faisal of Saudi Arabia, a moderate Arab leader who became one of the world's richest and most powerful monarchs, was assassinated today by his mentally unsound nephew, the nation's official Riyadh Radio announced.
Death of the 70-year-old Faisal could have drastic effects on the Arab-Israeli conflict, with unforeseen changes of future oil prices that Faisal helped raise by 400 per cent. It came at a time when United States influence in the Middle East had just suffered a major setback.
A State Department official predicted that the assassination would be a "great loss" to U.S. efforts in promoting peace in the Middle East. President Ford sent a message of regret.
Faisal, a leader of the Arab oil embargo which brought economic disaster to many Western nations, earned Saudi Arabia nearly $30 billion last year by selling one-fifth of the oil consumed by the non-Communist world. Western European nations expressed fear today there might be oil price rises in the future.
Faisal was succeeded as king by Crown Prince Khalid, 62, a younger brother who is considered as "pro-American" as Faisal, appearing to ease West European fears the Saudis might turn toward Russia. Khalid, who was first deputy prime minister, underwent open heart surgery in Cleveland last year, and some American officials expressed surprise he would assume such an arduous post.
The quick selection of Khalid appeared to rule out any immediate struggle for power, but French radio reports said the Saudi Arabian army has been put in a state of alert and the Royal White Guard had thrown a ring of armor around the royal palace.
Another brother, Prince Fahd, also a council vice president, was named crown prince.
Faisal was shot by his nephew Prince Faisal Bin Saad Bin Abdel Aziz while he was holding court on his golden throne in the mirrored hall of his great palace.
He was celebrating the birthday of the Prophet Mohammed, when the prince approached him and fired several shots at the monarch. Faisal died of his wounds in the Riyadh Central Hospital, a sobbing radio announcer said.
It made no mention of the fate of the assassin.
The nephew who assassinated King Faisal of Saudi Arabia was an engineering and political science student at universities in California and Colorado during the 1960s, diplomatic sources said today.
Diplomatic sources said that the nephew, identified as Bin Musaed, is the son of the late King Faisal's half brother, Prince Musaid.
The monarch, whose full name was Faisal ibn Abd alAziz Al Saud, was spiritual leader of the world's 600 million Moslems and had ruled Saudi Arabia since November, 1964. His nation, the size of Alaska and Texas combined, contains two of Islam's holiest shrines, Mecca and Medina.
