Any information on the throne of virus or any other science topic you should really check out our podcast so you can get it wherever you get your podcast you can also find us and dot com the one slash science. Coils collapse in the u. S. Has Global Markets worried deflation is the big fear as producers rein in production the question on everyones mind when will demands pick back up. Beijing gets back to business well see how chinese firms are changing to cope with the coronavirus. And pandemic measures claim a victim down under as Virgin Australia Airlines Files for bankruptcy. This is your Business Report im steve. Its good to have you with us now the crash in u. S. Oil prices is reverberating around the globe pushing stocks toward losses and driving Commodity Prices down major Oil Producing nations could be hit hardest with lower prices carving chunks out of their budgets theyre now hoping that demand rebounds in the months ahead. Demand for oil has plunged amid the worldwide lockdow
Come friday, thats mayday, with spring weather, getting out of the house and back to work will surely take another step forward. Look at this. Investors love it. We know we are in the middle of a seriously shrinking economy but back to work means a way out of the mess. Top officials including the president and the treasury secretary expect a vigorous recovery later this year. And soon, we will see the Financial Statements from the allimportant big tech companies. Investors are expecting solid results and that, too, is helping the overall market. Heres the big negative of the day. The tumbling price of oil. We dropped to 10 a barrel. Now we are at 11. 87. At the moment, its not hurting the stock market, but the possibility of going back to a zero price or a negative price as we did two weeks ago, that is still on the table. Gas, yep, keeps on falling. Not quite quickly enough, maybe. 1. 76 is your National Average. Wisconsin still the cheapest. The average price today actually went up i
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
Up financial loans looking to extend the lockdown to may. Germany announces plans to let small shops reopen next week translator what we have achieved is an interim success no more. No less. I emphasize that it is a frag ill interim success this is an emergency like no other. She warns we could get further economic weakness if this virus takes a double trip around the world. The fund saying asian growth will grind to a stand still this year a look at the european stock market we are now into the trading session. Weve warmed up. The market is in much of the green. What we saw was a reversal of fortunes to the tune of 3. 25 fairly decent selling for the german stock market. These markets also bouncing. Investors still weighing on very negative data. Youve got a glow from the United States to markets well weather retail pressure. The ftse in italy holding on to the strongest gains 2. 3 higher and down about 4. 8 pes recovering about half of that territory. The French Market 1. 1 weve been
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