What happens after yesterdays big move the dow down yesterday by 2. 1 the dows worst performance going back to may 1. A lot of this was happening as we were getting comments not only from Stan Drunkenmiller and dave tepper talking about his concerns about this being the second most overvalued market he had ever seen. Comments from fed chairman jay powell all of those things adding up saying what do we need to worry about and where do we need to be concerned . Watching the treasury markets, you will see the yield for the 10year right around 0. 61 so that is with a little more pressure. Watching wti this morning, you will see that is up about 5 i think it is 2r5iding near session highs of 26 a barrel. Andrew thank you. Every day, we have a huge show another big one this morning what is on the lineup this morning. The ceo of verizon, New York Times, mohammad eleran to join us and eric schmidt who will be working with the governor of new york states and work places looking to him and that
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
Crude carnage im joined by my guest was me in beirut hes a professor of economics and International Affairs in irvine we have pai and he is an independent economic and geo political analyst as well as a former commodities trader and in toronto we Cross Alexandre Bruno he is an analyst at gulf state analytics sorry gentlemen crosslike rules in effect that means you can jump in anytime you want and i always appreciate pilot may go to you 1st in irvine because you got up early as for this program here all right it all happened quite quickly and a lot of analysts werent too surprised by the deal that the russians and the saudis had collapsed. The russians didnt go along with what the saudis wanted to do and the saudis reacted and now we have carnage on the oil markets here what is saudi arabias gambit here because you know in the if you look at its budgetary constraints it can afford to have low oil for a very long time and we throw in the coronavirus that is also hurting crude demand all
Crude carnage im joined by my guess was me in beirut hes a professor of economics and International Affairs in irvine we have pai and he is an independent economic and political analyst as well as a former commodities trader and in toronto we Cross Alexandre Bruno he is an analyst at gulf state analytics sorry gentlemen crosslike rules in effect that means you can jump in anytime you want and i always appreciate pilot may go to you 1st in irvine because you got up early as for this program here all right it all happened quite quickly and a lot of analysts werent too surprised by the deal that the russians and the saudis had collapsed. The russians didnt go along with what the saudis wanted to do and the saudis reacted and now we have carnage on the oil markets here what is saudi arabias gambit here because you know in the if you look at its budgetary constraints it can afford to have low oil for a very long time and we throw in the coronavirus that is also hurting crude demand all acro
A lot of conflict within the game and between the teams most of the conflict i would say over the years from morning there most of them is me. Close one you know the childrens children this could be just the state of california alone makes 6000000000 clues you have to presume cope with just to get some point in your life where. You dont care anymore nobody cares about you so you dont care mind anything. Actually as a financial survival stacey lets learn. Lets say im the. Grease of the fight. Thank you for. The story thats right. Hello and welcome to cross talk were all Things Considered im Peter Lavelle with the coronavirus now officially declared a pandemic the world faces the additional burden of an Oil Market Collapse this comes at a time when demand for crude was already low some are calling this the ultimate perfect storm how this all ends is anyones guess. Crosschecking crude carnage im joined by my guest was me in beirut hes a professor of economics and International Affairs in