Warned before below 50. 00 per barrel Many Companies will be unable to service their debt obligations this in turn has the Banking Sector as these Companies Start defaulting big banks including j. P. Morgan city Group Wells Fargo and goldman are down between 9 to 13 percent today as the selling pressure intensified across all sectors u. S. Markets triggered a 15 minute halt at the am the dow fell over a 1000 points as investors continued to seek safer assets the yield on the 10 year dropped below 0. 5 percent for the 1st time ever in the history crude prices have become a bigger problem for the markets than the coronavirus now as it will be virtually impossible for the s. N. P. To bounce when the Energy Sector is down 15 percent interesting way enough gold that defacto safety asset is not spiking instead it is trading flat someone down indicating that people are selling with. Well prejudice this type of broad based sell off is indicative of a cash crunch and that leverage funds are rec
So what weve got to do is identify the threats that we have its crazy Going Foundation let it be an arms race is on all sides very Dramatic Development only mostly im going to resist i dont see how that strategy will be successful very critical time to sit down and talk. Join me every thursday on the alex so im unsure when ill be speaking to get off of the world of politics sports business im show business ill see that. Global markets plummet amid widespread talan and this time while at the culprit this does boom but the one business show you cant afford to mess im christiane and im bridgeboro in washington coming up the market bloodbath rages on amid infection fears and oil has stalled with prices dropping below 40. 00 a barrel we take a look at the big picture and what the future may have in store. And the World Health Organization says the possibility of the corona virus becoming a pandemic is the very real well break it down and discuss what can be done to control the spread of the
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 time after time while us shell producers each time up production to fill in the market as a result saudi arabia cut its crude price as much as 6. 00 to 7. 00 per barrel and is looking to raise its daily alpo by as many as 2000000. 00 Barrels Per Day as it too is ready to fight for market share in the u. S. Oil and gas industry is facing attack from 3 sides falling prices from reduced demand a Global Movement to divest from fossil fuel and crushing debt loads the industry has about 86000000000. 00 a rated do the next 4 years and as analysts have warned before below 50. 00 per barrel Many Companies will be unable to service their debt obligations this in turns has the Banking Sector as these. Companies start defaulting big banks including j. P. Morgan city Group Wells Fargo
Perspectives to current issues. The center itself is strictly nonpartisan. The purpose of the program is not to advocate for any particular policy, but provide Historical Context to help inform policymakers and the public as they deal with difficult issues. Thank or acknowledge the Financial Support of the Mellon Foundation which makes this series possible. I also want to thank Rachel Wheatley in the back of the room who is our assistant director and helped organize this. I want think the i want to think the office of gerry connolly, and i want to alert you to the fact that you will have index cards on your chairs. This is for questions. As the presenters are speaking, feel free to jot down questions, they will get formal remarks in the first hour, and the second half hour will be devoted to q and a. We will go from there. Thank you offer coming. This the rest of it is in the flyer. I worked briefly with the Congressional Research service. A little longer with the department of energy.
Will it make its way back to zero . Seems to be part of the conversation building in markets. Barrelumped above 65 a as supply disruptions in iraq brought concern to geoPolitical Risk. With more is Annmarie Hordern. Detention we are seeing in libya and iraq come very different in nature. What is the impact of these on oil supplies . Annmarie they are both geoPolitical Risks to the oil supply. In libya, the government says we could go to 72,000 barrels a day. This has to do with the eastern military commander. He has a blockade now on the port, so actual supply is not disrupted. The market may be shrugging off a little bit because in days or hours, that blockade could be lifted. Iraq, while it is a minor disruption, which is producing more than 4 Million Barrels a day, it opens up a window of worry. Just last thursday, the iea says iraq remains very vulnerable. It is more about could the supply threatened become much bigger. Anna they are overproducing their opec target. Annmarie this c