Approach with Jeanclaude Juncker. We are in luxembourg. Manus a warm welcome to daybreak europe. We are waking up to 5 Million Barrels of oil being taken out of the system by saudi aramco. Is it a fourweek affair . How much of the 20 price rise that we saw at the open is geopolitics and how much of it is supply . Good morning. Nejra yes, the biggest sudden disruption ever is what we have been waking up to this weekend. We have certainly been mispricing oil markets up until now. We have indeed. Let me show you the single biggest daily move. I put it in the library. Here we go. This is the kind of size and scope move we have seen on the oil market. We opened up on the biggest move since 1988. Since 1990iggest when kuwait and iraq were at war. The question we must ask ourselves is how quickly can aramco get this oil back online . You need to speak to the market and make it very clear what is the damage, what is the damage limitation. Lets look at the rest of the implications. We are seein
Sees oil prices spiking the most ever. Brent has paired its initial gains, but still up more than 10 this morning. The president says hes locked and loaded. The u. S. Point fingers at iran, donald trump sang a response depends on verification. Tehran denies. They assess a new threat to crude supply. D jumps is money flowing floods into currencies for other nations. Less than a halfhour until the start of the european open, and markets dealing with oil price move, thats reflected in futures. Futures will be weaker at the start of trade. Well be looking for reactions in the oil majors, asia stocks, the extensive hedging the various airlines have in place. All of that could be key after the aviation stocks. Lets have a look on the gmm. Weve seen the biggest ever day jump in the oil price. This is having an impact on various assets. Instead of a flight to safety, its more of a sell everything going on here. Money coming out of the markets in asia. South korea and china were closed friday.
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A great great entrepreneur one of the best in the world and he loves this country and he loves china you can kind of. That was early 2017 and things couldnt have been more different by the end of last year the time when trade tensions between the u. S. And china where escalating trade war is the most a stupid a thing in this world trade is to force the peace trade is to communicate there will be no trade deficit. Issue in the next 20 years because of technology feeds the answers to some of the worlds biggest problems in technology and while he may be stepping down from his role as chairman he still wants to make a difference he says hell spend more time building his Philanthropic Foundation put education. If it could and joins me in the studio now jack ma a Success Story business story in a communist country where most of the companies a state run i was the possible well i think last year we saw a situation where he said that he was a communist party member and he never denied it but f