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 | 133,620.35 161.04M |
0.19% 250.20 |
ALLSHR | 83,329.12 577.72M |
0.30% 247.97 |
KSE30 | 40,755.71 61.13M |
0.12% 50.41 |
KMI30 | 192,671.95 69.67M |
0.05% 91.27 |
KMIALLSHR | 55,927.39 342.48M |
0.16% 91.67 |
BKTi | 36,502.15 10.04M |
0.51% 184.98 |
OGTi | 28,528.77 7.08M |
-0.05% -14.19 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 108,755.00 | 108,880.00 107,680.00 |
300.00 0.28% |
BRENT CRUDE | 69.51 | 69.53 69.03 |
-0.07 -0.10% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
2.90 3.07% |
ROTTERDAM COAL MONTHLY | 106.00 | 106.75 106.00 |
0.25 0.24% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 67.75 | 67.97 67.40 |
-0.18 -0.27% |
SUGAR #11 WORLD | 16.25 | 16.46 16.07 |
-0.13 -0.79% |
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 |
---|