And you say well how can you spend negatively to buy oil and theres some technical things going on here this is the price for the may contract and a lot of the declines can be attributed to technical reasons there and low Trading Volume that exacerbated the swings but even if you look to june the price per barrel is down around 20. 00. 122. 00 barrel dollars per barrel and that is still a huge plunge and a huge concern for Oil Manufacturers here in the United States who are struggling to survive in the midst of this competition internationally. And this glut of oil so very drastic turn on wall street bringing the market down with it overall chris salumi with the latest there from new york kristen for the moment thank you and lets across store economics editor of it ali who joins us now live with russia saudi arabia agreed to was a lot of press that had cut it out but i think it was about a 10th of production nearly 10000000 barrels a day to try to boost the markets that were hit by the
A long political stalemate in israel the Prime Minister signs a deal to form a unity government with the former opponent. We stand with you and we grieve if you. Canadas Prime Minister pays tribute to those who died in the countrys worst mass shooting as the death toll rises to 18. The World Health Organization is warning countries against loosening coronavirus long down restrictions that as governments in europe begin easing social isolation measures germany has reopened some shops and schools Nursery Schools in norway are also reopening to the Czech Republic denmark poland also lifting the shutters on some businesses but European Union Health Experts are warning the battle is fast. Over with infections nearing 1000000. 00 well india has partially lifted its lockdown allowing agriculture manufacturing and construction to resume that says the country reported its highest single day increase in new infections well Health Organization is caution countries the easing of what downs worldwi
Hello Easter Sunday is a day of celebration for the worlds 2400000000 christians a day of hope a day to proclaim the victory of life over death but easter this year has been marked by empty Church Buildings families split apart and an ever growing list of the dead from the pope in the vatican to the church of the holy supplicant in jerusalem and suburban churches around the world priests and ministers were forced behind closed doors delivering their messages online rather than in person well here in the u. K. The Health Secretary declared sunday a somber day as the number of People Killed pos 10000 the 5th nation to reach the figure british Prime Minister Boris Johnson was released from hospital thanking Health Care Workers for saving his life but the admitting it could have gone either way and my word begins our coverage. Britains Prime Minister Boris Johnson left the hospital to continue his recovery at his country residence he was discharged after a week 3 nights of which he spent i
Futures and negative territory for the first time on record. Air travel is floundering with carriers slashing services and grounding planes. Richard branson says the virgin operation may not survive. Today was big story the crash in oil prices. We have the wti futures settling at 37. 63 per barrel. You are taking a look at june futures at the moment. This of course still at a volatile level, but the real question being is will it suffer the same fate . Today, we saw the technical auditing exacerbating the price plunge away from the may futures contract ahead of the Energy Companies running out of place to store oil. U. S. Futures jumping 3 10 of 1 after they pulled back from a six week high. Quibi stocks under pressure. Jim. Ng us now is what was interesting in todays session was it a virgins we saw in the market. We had the price of oil collapse but at the same time, really not a lot of movement when it comes to the u. S. Stock market for the treasury market. Why are we seeing such di
Tom it will be interesting to talk to fatih. We have the price actions and dynamics and future this is and futures that. What are they going to do about it . Derth, a absolutely complete mystery out there right now over what the next step is. There was opec plus, there was all the meeting of the World Leaders and that. And what i hear on a wednesday is just absolute thundering silence. Francine yeah, absolutely, tom. We were speaking to the former n. E. Chief executive and they were saying they would need to cut Something Like 33 Million Barrels for make a difference. It seems difficult for this group alone to do something. Well discuss that and also have to look at the world e. T. F. s place on this but straight to bloomberg first ord news with viviana hurtado. Viviana the Senate Passing a relief package including money for the tapped out program to aid Small Businesses. Theres also money for coronavirus testing and hospitals swamped by patients. The house could take up the measure as