Trump called the Khashoggi murder "Worst cover-up ever"

Market Trends - 24/10/2018

On Tuesday the United States of America President Donald Trump stated that Saudi officials staged the "worst cover-up ever" regarding the murder of the prominent journalist Jamal Khashoggi at the beginning of the month.

When a reporter in the White House Oval Office asked Trump how the Khashoggi killing could have happened, the president said: "They had a very bad original concept. It was carried out poorly, and the cover-up was one of the worst in the history of cover-ups."

The popular journalist life ended in the Saudi embassy in Istanbul on Oct. 2 and that has produced global outrage and tense relations among Riyadh and Washington. Khashoggi, a very important critic of Saudi Crown Prince Mohammed bin Salman, was a U.S. citizen and journalist for The Washington Post.

In recent days Trump's criticisms about the episode have varied from warning Saudi Arabia with "very drastic" consequences and considering potential economic penalties, to more friendly comments highlighting the country's position as a U.S. partner opposite Iran and Islamist militants, as well as a significant buyer of U.S. arms.

The US President on Tuesday said the Khashoggi case was handled poorly by Saudi executives. Trump said. "Bad deal, should have never been thought of. Somebody really messed up. And they had the worst cover-up ever."

Riyadh originally rejected they had any information of Khashoggi's fate before stating he was killed in a fight in the embassy, a response that was treated with suspicion by many Western authorities, straining their connections with the world's largest oil exporter.

The kingdom has since changed portions of its official story about the murder, additionally increasing global concern.

Now regards to Oil production and distribution On Tuesday Saudi Energy Minister Khalid al-Falih said that the country would step up to "meet any demand that materializes to ensure customers are satisfied." Despite this, analysts said markets remained tight because of the upcoming sanctions.

U.S. bank Morgan Stanley said "We still see Brent reaching $85 per barrel by year-end."


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