US urges Saudis to 'reassure' oil and financial markets

By MG News | March 25, 2020 at 10:22 PM GMT+05:00
March 25, 2020: The United States said Wednesday it has urged Saudi Arabia to "reassure" oil and financial markets as the world grapples with a coronavirus pandemic that has paralyzed major economies.
The appeal was made by Secretary of State Mike Pompeo in a telephone conversation Tuesday with Crown Prince Mohammed bin Salman, the State Department said.
Oil prices have plunged as economies grind to a halt due to the pandemic. But the decline has also been fueled by a price war between the Saudis and Russia.
President Donald Trump, who is seeking re-election in November, has welcomed lower gasoline prices for US consumers but the United States is also worried about its shale oil producers.
"The Secretary stressed that as a leader of the G20 and an important energy leader, Saudi Arabia has a real opportunity to rise to the occasion and reassure global energy and financial markets when the world faces serious economic uncertainty," the department said in a statement.
"We agreed all countries need to work together to contain the pandemic and stabilize energy markets," Pompeo himself tweeted Wednesday.
On Thursday, Saudi Arabia is hosting a virtual summit of G20 leaders on the health crisis sweeping the world because of the coronavirus.
AFP/APP
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 131,949.07 198.95M |
0.97% 1262.41 |
ALLSHR | 82,069.26 730.83M |
0.94% 764.01 |
KSE30 | 40,387.76 80.88M |
1.11% 442.31 |
KMI30 | 191,376.82 77.76M |
0.36% 678.77 |
KMIALLSHR | 55,193.97 350.11M |
0.22% 119.82 |
BKTi | 35,828.25 28.42M |
3.64% 1259.85 |
OGTi | 28,446.34 6.84M |
-1.02% -293.01 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 108,125.00 | 110,525.00 107,865.00 |
-2290.00 -2.07% |
BRENT CRUDE | 68.51 | 68.89 67.75 |
-0.29 -0.42% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
0.75 0.78% |
ROTTERDAM COAL MONTHLY | 106.00 | 106.00 105.85 |
-2.20 -2.03% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 66.50 | 67.18 66.04 |
-0.50 -0.75% |
SUGAR #11 WORLD | 16.37 | 16.40 15.44 |
0.79 5.07% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|