Seriously when you have such weakened trading volumes. In oil, a choppy session overnight after a big gap down sunday. The direction now depends on when the Global Economy will be able to open up, and that will be the indicator for all of the economic data, as well as risk appetite. Time for todays market moving news from our new york team. We begin with a historic price deal. Plus coming to an agreement to to cut minutes output. ,inutes after the deal was done the Saudi Oil Minister saying that opec is up and alive. With more is in reordering. What do we with more is annmarie hordern. What do we know now . Annmarie they were able to finally clinch this deal, 9. 7 Million Barrels a day. I would say that the main takeaway, goldman put it as historic, but insufficient, given how bad the demand loss is and how bad the supply glut is. These cuts of 9. 7 Million Barrels a day. We should also say that goldman puts it at 4. 3 Million Barrels a day, when you take from First Quarter levels, ass
Spain and italy edging towards easing their shutdowns of france could be about to go the other way. The economic fallout is hitting aid budgets the World Food Programs cutting rations for more than a 1000000 refugees in uganda also on the news or. In other news fighting intensifies in libya between the warlords after the internationally recognized government and in support professional baseball has made its 1st appearance of 2020 taiwanese hosting games behind closed doors with mannequins replacing real spectators. The russian president Vladimir Putin says the Coronavirus Crisis is worsening in russia and the Defense Ministry may have to be involved in containing it and made those remarks. After the country had its biggest daily increase yet in infections 2500 new cases the total number of infections has now gone beyond 18000 the government says 148 russians have died as cross live now to our London Bureau and correspondent covering all the european aspects of this need barkha soni for
A 1000 infections now. And the. Coronavirus patient in london sends a message that itself goes viral across europe. To hamas now have all the sporting puting. That crickets most lucrative t 20 tournament at the Indian Premier League will be able to get underway next month because of the current a Virus Outbreak. Of there have long been warnings that the right of corona virus infection in the u. S. Would be worse than thought and now there is proof the United States has surpassed all other countries with 85000. 00 plus infections close to half of those are in new york state alone and chinas president xi jinping says he is offering his support to. Help the u. S. To fight the virus well be talking about that a little later on weve also got these 3 correspondents bringing Us Developments this hour laurence lay there he is in london with the latest updates from the u. K. And youre in johannesburg i mentioned this of africa with its 1st 2 deaths katrina you also with the latest from beijing
Is the Oil Price War between saudi arabia and russia about to end crude prices enjoyed that biggest have a 1. 00 day rally after the us president raised hopes of a truce will donald trump intervention be enough and whats the impact of the rift between the oil superpowers this is inside story. Hello and welcome to the program im Bernard Smith over the past month 2 of the Worlds Biggest Oil producers have been in dispute about how to respond to the coronavirus pandemic demand collapse stuff to add lines grounded the planes factories shut the doors on countries impose travel bans crude prices fell further when saudi arabia and russia couldnt agree on cutting supplies to try and force Prices Higher now u. S. President donald trump is suggesting the feud may soon end saudi arabia has called for an emergency meeting of Oil Producing nations some era challenge reports signs that an oil price will between 2 of the worlds biggest producers may and so with the biggest one day leap on record and
Footing. If we do get some kind of opecplus deal, that will provide some support in the markets. Guy we are seeing equity markets bid, and it is stuff the market has really fallen out of love with that is catching the biggest bid. The travel and leisure sector, airlines, some of the catering companies, the hotel groups really bid today. Bid, up by 1 . We are anticipating any second now the start of a Video Conference call between eurozone finance ministers. We will get the results of that maybe a little later on. We continue to watch what is happening over at st. Thomas hospital, where the Prime Minister of the United Kingdom is in intensive care. Withrms of what happening yields, going a little higher today. Trading at 37 basis points on the u. K. 10 year. Alix we will say higher maybe in quotes. For more on the impact of the virus, we are joined by kemal shree kumar by cobol shree kumar by hobo three rikumar. S are we seeing some sustained buying ability . Are greatse questions. I th