The governments been reporting. Harder for you cheers citizens is to draw on to to. Do a good week a moment volunteers helping to boost irans response to the pandemic. Does not donald trump has declared he will suspend immigration into the United States through an executive order that he tweeted this the u. S. President saying it is a response to the coronavirus pandemic he refers to it 19 as the invisible enemy trump added that he has to protect american jobs it was an announcement address with condemnation from some in the Democratic Party have accused trump of distracting people from what they describe as his faulty response to the outbreak more from chicago now which 100. 00. The president issued this tweet in the dark of night and he seemed to do that for good reason he could have made his announcement at his daily News Conference where he talks about the coronavirus and all of the actions the administration is taking but by issuing this mysterious tweet late on a monday night he
Diary. And welcoming us into the. Let us get as up close and personal as the pandemic will allow. The diaries starts minute d. W. All eyes on europe and the u. S. As their economies begin reopening in parts so can businesses find their footing or will a 2nd wave of infections push them back to the brink. Also coming up saudi arabia announces further cuts in Oil Production and further measures to help its Oil Dependent economy. And well look at how the pandemic is threatening medicine shortage just at a pharmacy near you. This is your Business Report im Stephen Beardsley its good to have you with us wall street wavered monday as more economies began reopening at risk of new infections the dow index. Much of the session down before recovering some of its losses in spain france and belgium have all relaxed some pandemic restrictions beginning this week as have more states in the u. S. Meanwhile south korea once a model for its response is reporting new cases as is the chinese city of wood
At the beginning of 2020 a barrel of u. S. Crude oil cost around 60. 00 then came the coronavirus pandemic forcing states toward a lockdown and emptying streets closing businesses and shuttering factories across the nation demand dried up and the price fell to 18. 00 on monday things took a catastrophic turn for the 1st time in history u. S. Oil went into negative territory a doomsday scenario for the entire industry President Trump called the drop interesting despite the crash hitting the stock market were filling up our National Petroleum reserves through dziedzic you know the Strategic Reserves and were looking to put as much as 75000000. 00 barrels into the reserves themselves that would top it out that would be 1st time in a long time its been tapped out would get it for the right price capacity though both online and see in the United States is filling up since march stockpiles in some locations have risen by 50 percent in some places the price of fuel is now at a 10 year low dem
On this, and take the oil and find a place to ship it. That is proving to be a real conundrum for these markets here. There is a company, variety of companies that do this for a living including one called valpak. It has storage barrel systems i dont know what you call it all over the world, include places in singapore, rotterdam, theyre essentially saying there is no room at the inn. Weve run out of space for the space people are looking. Sort of a doubleedged sword here. The fears in the market they have not gone away. At love oil suppliers, their concerns have not gone away. A lot of wildcatters, smaller businesses if you take exxonmobils and chevrons out of this, to lesser extent occidentals host of others theyre still feeling the pinch. Not as much as you would think. Off lows early this morning but still down appreciably. So well be looking at the forward month contract where june is the most heavily traded at the moment. So we will keep an eye on that but we will also keep an ey
Warning its the worst possible time for the country to let up on the locked out. Class israel sea of galilee transformed thanks to its highest water levels in decades and over a year would be packed with tourists but with the world on lockdown its each remained empty. I mean if i must and welcome the race to develop a vaccine against the corona virus is underway and it comes at a high cost led by the European Union countries around the world have fetched nearly 7 and a half 1000000000 euros to fund the fight against the virus in the commission president. Is calling its a victory for Global Cooperation but the fundraiser was just as notable for the no shows. Lets start the pledging the e. U. Kicked off its fund raising drive with 1000000000. 00 euros in the hours that followed pledges were beamed in from across the globe the kingdom of saudi arabia has pledged 500000000 dollars even pop icon madonna made a last minute donation of a 1000000 euros it wasnt enough to reach the fundraisers