How low can all prices go crude oil drops below 30. 00 a barrel as a price war between 2. 00 of the worlds biggest producers worsens how badly will that hurt the Global Economy already suffering from the coronavirus pandemic this is inside story. Hello and welcome to the program im norrin taylor the coronavirus pandemic is triggering fears of a global recession businesses around the world a shot stock markets are suffering massive losses on top of all that an Oil Price War between 2 of the worlds biggest producers the dispute between saudi arabia and russia is already pushed the price to its lowest in 4 years brant crude dropped below 30 u. S. Dollars a barrel on monday Global Demand for oil was already low since governments imposed widespread lockdowns and airlines grounded flights because of the disease you know a cartel opec and the International Energy agency both warn that developing countries such as algeria and go and venezuela could suffer the most losing up to 85 percent of th
And p. Triggering another 15 minute halt at 1 pm the indexes have swung more than 4 percent in either direction for 7 consecutive sessions now there tuesdays close topping the previous record set in 1929 now this volatility is destructive towards the integrity and confidence of the market and the dow is now trading at below the levels of one President Trump took office in 2017 corporates are now still in clear signs of stress as Companies Like fed ex General Mills and airline slash profit outlook for 2020 secretary menuhin warned that Unemployment Rate could hit a depression era of 20 percent in the absence of Government Intervention the sell off in equities is broad based indiscriminate of traditional safety sectors however there are a few bright spots on the heat map today walmart c. V. S. And walgreens are up citing bulk buying of Consumer Staples and pharmacy products and netflix was slightly up this morning before giving up gains as a quarantine has forced Many Americans to stay a
To its lowest in 4 years brant crude dropped below 30 us dollars a barrel on monday Global Demand for oil was already low since governments imposed widespread lock downs and airlines grounded flights because of the disease they were cartel opec and the International Energy agency both warn that developing countries such as algeria angola and venezuela could suffer the most losing up to 85 percent of the oil and gas revenue this year. Or the price war started last week when russia rejected plans by saudi arabia to cut Oil Production the kingdom and other opec countries want Higher Oil Prices following the drastic drop in demand because of a coronavirus pandemic saudi arabia responded by announcing plans to pump much more oil at hugely discounted prices last monday brant crude recorded its biggest one day price fall since the 1991 gulf war Investment Firm goldman sachs. Warns prices could fall to 20. 00 a barrel both the saudis and russians say they can survive the price crash by relying
Its been pretty clear that theyve been making some very Good Progress whats happened since then is that the afghan prison ashraf ghani has been informed about this by phone hes now come here to munich for a much more detailed meeting of whats going to happen next and the afghan president was briefed here by the u. S. Secretary of state mike pompei o y mark kasper the us secretary of defense what we understand is that at some point very soon theyll start a period of 7 days a reduction of violence now thats not a cease fire theyre not using the cease fire word and certainly Afghan Government had wanted it to be a cease fire after that though after that 7 days then were told within another 10 days or so talks should start then between the taliban and all of the rest of the afghan political system the Afghan Government and other afghan Political Parties Afghan Government has been wary about this process all along because theyve been left out of it this has been very much a deal between the
A trip to shift gears of war crime. Internationally sorry intentionally directing attacks against hospitals and places containing the sick and the wounded and against medical units using the red cross or red crescent emblem. Is a war crime the number of People Killed by the corona virus has now passed 1800 after china reported 98 more deaths the head of a Major Hospital and one han thats at the center of the outbreak has also died of the virus has sarah cox from hong kong with the latest updates on the situation on the mainland. Today in a bid to try and curb this ongoing outbreak across china the government is in a tough new measures with the focus being on weve had of course this is the epicenter of the corona Virus Outbreak theyre doing door to door knocking on every single house and what theyre describing as the city wide sweep trying to identify those people are showing any signs of symptoms that are associated with the corona virus now those people who refuse to be tested they fa