Thats something to behold. Its hadding the lowest level since march of 1999. Right now well take a quick look at my board, which is current. I can see it down 4. 13 i say that because ive been practicing waiting 12 seconds to get a quote on something that im trying to give you instantaneously. Now im back on the nasdaq and i can actually see it. The coronavirus pandemic has sapped demand for oil and global storage is rapidly proefing capacity the world is running out of room on ships anchored at sea the may futures contract for wti expires tomorrow looking out to june, the situation isnt quite as dire. Its back to more of what were used to, kind of, at least in the last couple of weeks as you can see there, june delivery under 23 a share meantime, an update now on the pandemic as we bring you the numbers as we do every single morning. Here are the latest numbers. Global cases topping 2. 4 million now with 165,000 deaths. Now, the u. S. Cases nearing 760,000 with more than 40,000 deaths
This is the one that went negative. 1. 46. Ading at the International Benchmark is . 62. That is what we have at the moment. The oil prices the biggest toy of the day. Thank you very much for joining us. In some ways, this is manna from heaven for shippers, isnt it . Fuel is a Ship Operators single visit biggest expense. Shippers are benefiting from Lower Oil Prices, that is for sure. Their ships currently being used for storage. Haslinda how many more can be expected given that there will be more of this in the coming months . Brent crude futures fell by about 9 . For the moment, i would say the outlook is pretty bright. Particularly on the new york stock exchange. Haslinda how much is there an term of freight rates, tanker rates . That is a crystal ball that i am not qualified to see. The future looks pretty good. Rishaad Something Like 95 of global goods are transported on ships. What is the mind of the moment about the environment . I think the biggest single problem that we have i
Markets could hit that Circuit Breaker limit. It is incredible when we think about the volatility. It doesnt seem like the Federal Reserves jay powell has calms kets by any has combed has calmed markets by any means. Francine lets get straight to the bloomberg first word news in new york city with viviana hurtado. Viviana we begin with the most extreme effort yet to slow the march of the coronavirus in the United States. The cdc recommending events of 50 people or more not be held for two months sports, weddings, parades, concerts. All of these are on a twoavoid list. The economic slump in china is worse than analysts feared be the coronavirus leading to factories, shops, restaurants enclosed across the nation. Industrial outlets plunging 2. 5 . Retail sales were down more than 20 . Now the first oneonone debate between president ial hopefuls joe biden and Bernie Sanders. They sparred on ideological lines over how the government should respond to the coronaVirus Outbreak. Mr. Sanders s
Stephen beard good to have you with us asian stocks have been on the rise as governments and Central Banks take aggressive measures to fight the coronaVirus Outbreak and limits its Economic Impact on kongs hang seng index rose nearly 2 percent while in tokyo the nikkei index ended more than 8 percent higher shares also rose in Southeast Asia there are signs that Chinese Companies are slowly grinding back to life after weeks of lock downs and quarantines markets rallied after a surge in u. S. Markets and the i. M. F. Has announced 50000000000. 00 in funding for countries hit by the epidemic. And lets go down to correspondent in taipei those on han. Flickers of optimism there from asian markets youve been talking to managers and executives of chinese businesses do you see a similar optimism there. Well im afraid to asian underground doesnt look so optimistic though the Chinese Government figures are fishel figures show that over 70 percent of the of the production has been restarted it a
Routes in the u. K. Is incredibly difficult. As a result of which, to be in a for Francine Lacqua this morning. Lets have a look at the markets honest, this is something that then. Was probably always going to happen. Tom as an american, i would the stoxx 600 is down by. 2 . Suggest that may be possibly we opened in positive territory because the Railroad System is lifted with talk to come. So darned better than ours. Flybe we will talk much more about that today. That puts the virus front and sentiment from center. Its get to first word news with the trading day. Viviana hurtado. Countries are ongoing headlines are weighing on things at u. S. Futures are pointing negative. Tightening travel restrictions to contain coronavirus. There are reports japan will quarantine all people arriving this is the picture on oil markets. From china and south korea. Focusedthe brent price, australia has also added south korea to its band list. On the opec plus meeting in declaring a state of vienna. I