U.S. Markets

U.S. Treasury's Mnuchin tells Russian ambassador energy markets need to stay 'orderly'

FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin testifies before the Senate Finance Committee on Capitol Hill in Washington, U.S., February 12, 2020. REUTERS/Yuri Gripas/File Photo

WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin “emphasized the importance of orderly energy markets” in a meeting on Monday with Russia’s ambassador to the United States, Anatoly Antonov, the Treasury said in a statement.

The statement was issued as oil prices suffered their biggest daily rout since the 1991 Gulf War on Monday as top producers Russia and Saudi Arabia launched a price war amid weak demand prompted by the spread of the coronavirus.

Reporting by David Lawder; Editing by Sandra Maler