Turkey to search Saudi consulate in Istanbul for missing journalist on Monday


Khashoggi, a US resident and critic of Riyadh's policies, disappeared nearly two weeks ago after entering the Saudi consulate in Istanbul.

Saudi Arabia's currency fell to its lowest level in two years and its worldwide bond prices slipped on Monday over fears that foreign investment inflows could shrink as Riyadh faces pressure over the disappearance of journalist Jamal Khashoggi. Turkey believes he was murdered and his body removed.

The case has provoked an worldwide outcry, with U.S. President Donald Trump threatening "severe punishment" if it turns out Khashoggi was killed in the consulate and European allies calling for "a credible investigation" and accountability for those responsible.

The Saudi Embassy in Washington later tweeted what it called a clarification, thanking countries including the United States "for refraining from jumping to conclusions" over the case.

Oil prices moved only slightly on Monday as analysts said they doubted Saudi Arabia, the word's biggest exporter of crude, would risk global isolation and damage its own finances by cutting back exports at a time when it is pushing through reforms designed to create jobs and diversify its economy. Speaking with CBS's 60 Minutes, the president said that "nobody knows yet" whether the Saudi government ordered the killing of Khashoggi, a frequent critic, as Turkish officials reportedly allege.

"If they don't buy it from us, they're going to buy it from Russian Federation or they're going to buy it from China or they're going to buy it from other countries", he said. "We have conveyed this message directly to the Saudi authorities".

A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia July 27, 2017.

"It would lead to Saudi Arabia's failure to commit to producing 7.5 million barrels".

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The inspection comes after the disappearance of the Saudi writer, who vanished on October 2 on a visit to the consulate.

A Gulf banker said the Khashoggi case, combined with other events, had become a significant factor for some potential investors. "They add up to an impression of impulsive policy-making, and that worries investors", the banker said.

Jason Tuvey, senior emerging markets economist at London-based Capital Economics, said political developments in Saudi Arabia were becoming an increasingly important economic risk. Chief Executive Jamie Dimon; and Ford Motor Co.

JP Morgan Chase and Ford did not comment on whether the decision was related to concerns about the disappearance of Khashoggi. At the moment Treasury Secretary Steven Mnuchin plans to keep his own plans to attend - though Secretary of State Mike Pompeo says they're evaluating the situation closely.

Yields on Saudi Arabia's USA dollar bonds climbed, mostly at the long end of the curve; its notes maturing in 2046 were 15 basis points wider. Marco Rubio, R-Fla., told CNN on Sunday. We can not guarantee that it is suitable for the visually or hearing impaired.

Crude oil futures rose on Monday as geopolitical tension over the disappearance of a prominent Saudi journalist stoked worry about supply, although concern about the long-term outlook for demand dragged on prices.

Anti-Saudi sentiment in the US Congress could conceivably raise pressure to pass the No Oil Producing and Exporting Cartels Act, which would end sovereign immunity shielding OPEC members from US legal action.

US President Donald Trump has threatened Saudi Arabia "severe punishment" if Khashoggi was in fact killed, and Riyadh has vowed to hit back against any punitive measures. The kingdom has called such allegations "baseless" but has not offered any evidence Khashoggi ever left the consulate.