Largest coronavirus lockdown has extended for a further 2 weeks but indias government is easing some restrictions. To u. S. Democratic president ial hopeful joe biden denies allegations of Sexual Assault by a former senate colleague. And in sports the English Premier League is stepping up plans for a return to action the league is mad to discuss what needs to be done for games to take a call in june. It is just off the 1500 hours g. M. T. The dramatic drop in oil prices over the past few weeks has been one of the main economic fallout of the Global Pandemic and agreement decided among the worlds Top Producers to cut output has now come into effect and it appears that the deal came to be only after President Donald Trump reportedly pressured saudi arabia threatening to withdraw u. S. Military support for riyadh now to syria sullivan java reports. Oil and water do not mix but politics in oil bond very well there is no official transcript of the conversation between the u. S. President an
Tries to revive its faltering economy. And Jerusalems Al Aqsa mosque compound islams holiest sites closed during ramadan because of coronavirus restrictions. So an agreement among the worlds Top Oil Producers to cut output comes into effect today friday following the collapse in global prices it was spurred by a slump in demand because of the deal to cart output came with a lot of infighting between the worlds big Oil Producers go back to early march when they met in vienna and work out how to keep prices stable but failed to reach an agreement opecs recommendation was to take 1500000 barrels a day off the market if russia agrees to cut production as well russia said no. And so top producer saudi arabia retaliated by announcing a production increase instead sparked a price war lasted nearly a month prices dropped below 20. 00 a barrel also in riyadh did resolve their differences eventually agreed to gradually cut production by 10000000. 00 Barrels Per Day but as american producers whic
Holiest site is closed during ramadan because of coronavirus restrictions. Now an agreement among the worlds Major Oil Producers to cut out for that comes into effect on friday it follows a collapse in Global Oil Prices spurred by a slump in demand because of the pandemic and it seems the deal to cut out what may have only happened because President Donald Trump reportedly pressured saudi arabia plying the u. S. May withdraw its military support for riyadh the savage raid as this report. Oil and water do not mix but politics in oil bond very well there is no official transcript of the conversation between the u. S. President and the Saudi Crown Prince which resulted in saudi arabias latest Oil Production cut reports suggest president all trump told muhammad bin sole man that u. S. Forces stationed in the kingdom could be withdrawn if saudi arabia did not stop flooding the market with cheap crude within days riyadh announced production cuts and ended its Oil Price War with russia. 20 me
Cable up by. 3 . Hit sofutures, tech got hard yesterday, we are getting a bit of that back. David oil traders around the world are heartbroken. You have thrown them over for going. It is all jonathans fault. Ok, parliament is debating President Trumps controversial tweet. The president was wrong to retweet antimuslim videos from a far right group, britain first. Earlier, the president tweeted that Prime Minister theresa mays focus should not be on him but on the threat posed by islamic terrorism. The synod is moving toward a final vote on the massive tax overhaul bill as early as today. Lawmakers voted along party lines to begin the debate. That doesnt necessarily signal that Republican Leaders have the authority votes they need. Theenate republicans passed tax bill, they still have to hammer out differences with the house version. Oil prices are edging higher hours after opec meets. The cartel and russia are ready to extend production curbs until the end of next year. The goal is to f
Fedticipation. Looking ahead to tomorrow and what people can expect. Valeant shares are down big this morning after disappointing results. And its mega tuesday with five major primaries taking place across the country. Well go live to one of the most important states hitting the polls today. First up, retail sales down 0. 1 last month, in line with expectations, january sales revised downward from 0. 2 to 0. 4 down. Producer price is down 0. 2 in february. Unchanged if you strip out food and energy. The data coming as fed policymakers are set to begin their twoday meeting today with the latest policy Statement Due tomorrow afternoon. That will be followed by Janet Yellens news conference. A big question is whether or not their statement reflects some firming of inflation. Ppi today relatively stable. I think things are tame. Obviously James Bullard was talking about oil going to 20, how he might have to revise his view. It went to 40 and has come back. The thing thats devastating is th