Its a move no one seen in decades on monday oil prices plunged into the negatives prompting President Trump to make this announcement were looking to put as much as 75000000000 barrels into the reserves themselves that would top it out it would be 1st time in a long time its been good for the right price. Now adding that much oil is a major task but where do you store it meantime Oil Prices Continue their downward spiral today for more on all of this lets bring in our fronsac shes been following the story and this is the 1st time in history right that that oil has dropped below 0 right now and you know this is really a domino effect all from the coronavirus now people have these stay at home orders so people are theyre driving less no ones. Flying anywhere so you have all this extra oil not being used and theres only so much oil the world can store and were already bumping up against the limits of Storage Capacity and thats why were continuing to see the price to continue to sink now a
Its a move no one seen in decades on monday oil prices plunged into the negatives prompting President Trump to make this announcement were looking to put as much as 75000000000 barrels into the reserves themselves that would top it out it would be 1st time in a long time its been good for the rate brace. Now adding that much oil is a major task but where do you store it meantime Oil Prices Continue their downward spiral today for more on all of this lets bring in our friends actually been following the story and this is the 1st time in history right that that oil has dropped below 0 right now and you know this is really a domino effect all from the coronavirus now people have these stay at home order so people are theyre driving less no one. Flying anywhere so you have all this extra oil not being used and theres only so much oil the world can store and were already bumping up against the limits of Storage Capacity and thats why were continuing to see the price to continue to sink now
White house goes on joe biden is in but secure his place is the democratic nominee but can he still trump joined us for continuing coverage of the u. S. Election 2020000. Why did u. S. Oil prices hit negative territory at unprecedented fall in American Crude Oil sales has added to the hardships caused by coronavirus so what will that mean for the u. S. And the Global Economy this is inside story. Hello and welcome to the program im Richelle Carey thats one of the worlds most valued commodities but the coronavirus lockdowns to overturn the dominance of oil the worth of a barrel of u. S. Oil fell to less than nothing on monday thats the 1st time in history the price has turned negative so this means producers ended up paying buyers more than 30. 00 a barrel to get oil off their hands it rebound a slightly shit disturber 2 dollars the next day that jaw dropping slide is because the world has more crude that it could use and Storage Facilities and even ocean tankers are filling up oil is t
Why did u. S. Oil prices hit negative territory an unprecedented fall in American Crude Oil sales has added to the hardships caused by coronavirus so what will that mean for the u. S. And the Global Economy this is inside story. Hello and welcome to the program im Richelle Carey thats one of the worlds most valued commodities but the coronavirus lockdowns to overturn the dominance of oil worth of a barrel of u. S. Oil fell to less than nothing on monday thats the 1st time in history the price has turned negative so this means producers ended up paying buyers more than 30. 00 a barrel to get oil off their hands it rebound a slightly shit disturber 2 dollars the next day that jaw dropping slide this because the world has more crude that it could use and Storage Facilities and even ocean tankers are filling up oil is traded on future contracts and fears of not finding a place to put oil in may means nobody wants crude thats led to a severe drop for west texas intermediate a benchmark for
Scramble for face musts worldwide shortage of essential medical equipment triggers a 1000000000 more. People are going to die in the near term due to a lack of ventilators that was the warning from the governor of new york in the us his states is the worst hates in the country with the number of cases breaking the 100000 threshold in the past 24 hours meanwhile its been revealed a massive hospital ship berthed in new york city to take a ferry is a noncorporate patients so far treated only 20 well in london the 1st patients can now use a new 4000 bed facility set up in a Convention Center the Nightingale Hospital was created in just. 9 days was comes as the u. K. Is nice in more than 3 sizes current virus deaths where i was brewing after 2 countries accuse the us of hijacking deliveries of protective equipment both france and germany say hundreds of thousands of face masks were diverted to america and canada is investigating similar claims and to underline the global scale of the crisis