Are doing here and why we are doing it, this is part of an ongoing series sponsored by the center that historical current issues. The center itself is strictly nonpartisan and the purpose of the program its not to advocate for any particular policies, but to provide Historical Context helping inform policymakers as they deal with difficult issues. I want to thank or acknowledge the Financial Support of the mellon foundation, which makes this briefing possible. I also want to thank regional weekly in the back of the room, which is the assistant director that helped organize this. I want to thank the office of gerry connolly, and also alert you to the fact that you all have index cards on your chairs. This is for questions. As the presenters are speaking, feel free to jot down questions. We will collect them. The second half will be devoted to q a. We will collect the questions and go from there. Thank you all for coming. David . Good morning. Thank you for coming. I have been Teaching I
So i welcome you this morning, thank you all for coming, my name is dane kennedy. Im the director of the National History center. Which is sponsoring this briefing. It is on the geo politics of middle east oil, Historical Perspectives on the current crisis. I want to just briefly explain what we are doing here and why were doing it. This is part of an ongoing series sponsored by the center that brings Historical Perspectives to current issues. The center itself is strictly nonpartisan. The purpose of the program is not to advocate for any particular policies, but in fact to provide sort of Historical Context to help inform policy makers and the public as they deal with difficult issues. I want to thank or acknowledge the Financial Support of the mellon foundation, which makes this briefing series possible. I want to thank rachel wheatly in the back of the room who is our assistant director and has helped to organize this. I want to thank the office of jerry connelly. Which has booked t
And fears grow over a potential Mental Health crisis triggered by the governments social distancing regulations. Welcome to r. T. U. K. The growth virus crisis is ramping up pressure on the Health Services the u. K. Death toll continues to rise and it comes amid reports of n. H. S. Workers suffering abuse with some becoming a target for muggers well for more on this on a shot it was dusty joins me now hi there shot is so pretty dramatic developments so its day 3 of the u. K. Wide lockdown a National State of emergency and the latest figures are quite stark now 1 more than 9500 people have contracted kovac 19 with the death toll at 465 which is up 43 in just the last 24 hours however on the surface it appears to be the smallest rise of the week but actually the government has moved when the time of death is a record it using a morning cutoff instead so potentially tomorrow morning we could actually see quite a spike now the n. H. S. Are treating this crisis as one that will get worse be
A congressional hearing in which case that will. Well break down the shake up at one of americas largest banks a lot to get here on a very busy day so lets get started. On oil lost as much as a 3rd of its value monday in its biggest drop since 1901 gold war fell to 30. 00 to 30. 00 per barrel as saudi arabia launched a price war with russia after the 2 failed to come to an agreement at its vienna meeting russia declined to agree to production cuts that have artificially kept Oil Prices Steady officially russia said it wants to wait and see what the Coronavirus Impact on demand is before agrees to cuts on officially russia is angry about u. S. Sanctions of Russian Energy Company Rosneft and attempts to stop the north stream to pipeline to germany by flooding the market and sinking prices russia sees an opportunity to crush the us shale industry which is dangerously levered to the hilt russia is also fed up with cutting production outputs timeout that time while u. S. Shell producers eac
Oils biggest drop in three decades. Some buyers of saudi crude are said to seek 50 more after it slashes prices. The ferocity of yesterdays in this mornings rolldown. You are seeing a moment of either reprieve, and the best opportunity to sell in terms of the s p futures over the past two days. On a futures front, we are off on the s p up on the s p futures. Up 3. 5 . All out recession was being pumped into the prices yesterday. We turned into a bear market. Dropping futures by 20 . Have a look at the bonds. Yesterday was down for equities. This morning there is a limit down. Thats giving you a nice spike in yields. My last guest said expect a further pump higher in terms of yields. That is when they would seek to enter the market. The fed are active. The new york fed are adding liquidity. Turning on the repo tap. Say the fed as opposed to a Global Central Bank reaction. The fed is acting on liquidity. Roll over the currency market. , yields protectionism rise in the United States of a