Trump says Saudi king denies knowledge of missing journalist

Saudi Arabian journalist Jamal Khashoggi

Saudi Arabian journalist Jamal Khashoggi

Saudi Arabia has vehemently denied any knowledge of Khashoggi's whereabouts.

Europe's largest economies - Britain, France and Germany - too said on Sunday that they were treating the case with "the utmost seriousness".

Hours prior, President Trump announced in a tweet that he spoke with Saudi Arabia's King Salman about Khashoggi.

The Saudi stock exchange, only months earlier viewed as a darling of frontier investors, plunged as much as 7 per cent at one point Sunday before closing down over 4 per cent.

JP Morgan CEO James Dimon and Ford chairman Bill Ford said on Sunday they would also not attend. The market clawed back a little, but closed 3.5% down for the day.

Trump said last week he'd speak with King Salman "very soon" and wouldn't halt US arms sales to Saudi Arabia despite the suspicions.

"Bangladesh welcomes Saudi Arabia's proposal to form a joint working group with Turkey to investigate the incident".

Both Brent and West Texas Intermediate crude oil were up about 1% on Monday as traders priced in the possibility that sanctions could remove more barrels from an already tight market.

Future contracts on the S&P 500 index, Dow Jones Industrial Average and Nasdaq were all in the red, indicating that investors remain cautious about US stocks after last week's sharp sell-off. Turkish officials say they believe Saudi agents killed and dismembered Jamal Khashoggi in Istanbul.

But Faisal bin Farhan, a senior advisor to the Saudi embassy in Washington, has dismissed these worries and said they don't represent the Saudi leadership.

Unidentified Man Takes Woman Hostage at Train Station in Germany
Police confirmed that there is a possible hostage scenario at a pharmacy located inside the station building. Cologne's central station itself is a major interchange for trains across Germany and Western Europe.

Turkey, Saudi Arabia to jointly inspect consulate where journalist went missing
A Gulf banker said the Khashoggi case, combined with other events, had become a significant factor for some potential investors. It's unclear, however, whether Saudi Arabia would be willing to unilaterally cut production.

High energy prices threaten economic damage, but likely to continue: IEA
Still, the IEA report is the latest government assessment to predict weaker demand ahead and conclude that supply is adequate. On Thursday, crude oil futures ended down $2.20, or 3%, at $70.97 a barrel, after having shed 2.4% a session earlier.

He said Riyadh would "respond to any action with a bigger one", pointing out that the oil superpower "plays an effective and vital role in the world economy". Saudi officials said the allegations are "baseless", but have offered no evidence Khashoggi ever left the consulate.

Saudi Arabia responded by vowing retaliation against any United States sanctions.

Trump has repeatedly criticized Saudi Arabia and King Salman over rising global oil prices.

US intelligence officials have reported they are certain the interference took place in an effort to hurt Hillary Clinton's campaign.

Similar campaigns have been trending on social media in Saudi Arabia and the UAE, although there has been no official backing so far.

While Turkey and the kingdom differ on political issues, Saudi investments are a crucial lifeline for Ankara amid trouble with its national currency, the Turkish lira.

These developments indicate that the U.S. may not even have to slap Saudi Arabia with sanctions at the government level, as the private sector appears to be more concerned over Khashoggi's mysterious disappearance than the Trump administration itself.

The controversy has troubled Saudi's traditional Western allies - who are key arms suppliers to the kingdom - and also undermined efforts by Mohammed bin Salman to present himself as a modernising ruler.

Several Republicans and Democrats on the Foreign Relations Committee sent a letter to Trump requesting he "make a determination on the imposition of sanctions ... with respect to any foreign person responsible for such a violation related to Mr. Khashoggi".

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