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
Waiting for trade clarity, markets await updates on the trade war. The pboc says it has space to na manufere if needed. And new pickup line, elon musk looks to entice new buyers as he unveils an electric powers cyber truck that can with stand a sledgehammer but not metal balls, apparently. Lets take a look at whats going on in equity Index Futures this morning. It was a muted and mixed trade over in asia. As we finish the session,s the holding up in that sense. We do see here in europe not Much Movement on the continent. Dax up. 4 of a percent. It had been down to 129 926. Now its coming down to 129. 6. But as the pound loses ground, its futures gain. Still only one or. 2 of 1 . But its early in the session. Down dayld turn into a for u. S. Stocks. Christine lagarde making her first well, her Second Public speech as e. C. B. President in an hours time. But it should be the first on monetarily policy. At least we hope so. Banking integration and renewed calls for fiscal stimulation. For
The International Energy agency has revealed that lng now makes up 35 of europes energy supplies, not far off the 40 contribution that russia made before it was sanctioned over ukraine. Joining me now is ben mcwilliams, whos an Affiliate Fellow at bruegel. Thank you very much for being with us today. What are your concerns about where gas prices could go if these workers do indeed strike . This is certainly a concern, but to be clear up front, nothing comparable to last year. The position we are in is that, as you mentioned, as russian Pipeline Supplies have been cut over the last 12 months, the eu and uk have become more dependent on liquefied national gas. Natural gas. Australia typically supplies asia. If it were cut to asian consumers, we would see asian consumers turning around and looking to qatar and competing with european buyers there, which would in turn have some Knock On Effect on prices. As it had last week, 40 increase from around 30 to 36 euros just nothing like close to
China, ill just say this. This summit was not about china. That was not the purpose of the meeting, but china came up. Not to say we dont share concerns about the economic coercion or heightened tensions caused by china, put this summit was about our relationship with each other and deepening cooperation across an entire range of issues that went beyond the immediately issues we raised. It was about a more peaceful and prosperous indopacific, a region quite frankly would benefit everyone living there and Around The World if we get it right. Its not just here. It has impact. Anyway, i wont get going. Itll take too long. Today is just how committed we are to see this vision take place. And i think this relationship we put together, and i think youre going to see it expand. This is a historic meeting, but were about to lay in place a longterm structure for a relationship that will last and have a phenomenal impact not just in asia but Around The World. Someone once said in a different con
We start with the social media app tiktok because its ceo has vowed to keep on fighting after the us House Of Representatives passed a bill that could see the app banned in america. Shou zi chew released a video on tiktok threatening legal action and warning that if the bill becomes law it will mean the end of tiktok for its 170 million users in the us. Well hearfrom him injust a moment, but first, heres our us Business Correspondent erin delmore who has been following developments on capitol hill. The houseboat sets the stage for what could become an ultimatum to tiktok Chinese Owned Company bytedance. Selby avenue or it will be banned. There is a way to go between here and there. It needs to go through this and it faces an uncertain future. The Senate Majority leader has been noncommittal about whether he will bring it up for a vote. Some studies are only about to vote against it. If it does move through the senate, President Biden that he will sign it. Components of the bill argue t