-i and brant crude well as kanu you said brant tends to be a more global price and a lot of bread is on the water going from $1.00 country to primarily the middle east and other countries to their it through their export markets. in the states we're producing well we were producing about 10000000 barrels a day and it was demand being destroyed here in the states and the export market for us that we've been storing up storage and storage is just about for both of us p.r. which is the strategic petroleum reserve for the government and for private commercial storage so that's caused a lot of the world to shut in we believe right now over a 1000000 barrels a day of production have been shut in already and i would expect another 1000000 or 2 to shut in because storage is good at becoming for mr cornelius i see you wanted in on that i'm coming stephen i promised i would totally agree alex i would say it's 3 to 3500000 that will be shot in and we have to look at the broader ramifications speak when you look a lot of these companies start out well so that sardine are are smaller so quick you

for brant which is sort of a c. boyden little benchmark and therefore it's also it up in terrible shape but it's not all negative because it has places to go ok stephen before i come to you sense cornelia brought up a west texas intermediate i'm obviously going to go back to bob in houston bob what is the difference in storage when it comes to dead e.t.i. and brant crude well as can you use a bridge tends to be a more global price and the lot of bread is on the water going from $1.00 country to primarily the middle east and other countries to their it through their export markets. in the states we're producing well we were producing about 10000000 barrels a day and it was demand being destroyed here in the states and the export market for us that we've been storing up storage in storage is just about for both a new u.s. p.r. which is the strategic petroleum reserve for the government and for private commercial storage so that's caused a lot of the world to shut in we believe right now over a 1000000 barrels a day of

and brant crude well as kanu you said brant tends to be a more global price and the mo lot of bread is on the water going from $1.00 country to primarily the middle east in other countries to their it to their export markets. in the states we're producing what we were producing about 10000000 barrels a day and it was demand being destroyed here in the states and the export market for us that we've been storing up storage and storage is just about for both of us p.r. which is the strategic petroleum reserve for the government and for private commercial storage so that's caused a lot of the world to shut in we believe right now over a 1000000 barrels a day of production have been shut in already and i would expect another 1000000 or 2 to shut in because storage is good at becoming for mr cornelius i see you wanted in on that i'm coming stephen i promised i would totally agree alex i would say it's 3 to 3500000 that will be shot in and we have to look at the broader ramifications speak when you look a lot of these companies start out well so that study in our smaller seo could do so step

for brant which is sort of a c. boyden little benchmark and therefore it's also it up in terrible shape but it's not all negative because it has places to go ok stephen before i come to you sense cornelia brought up a west texas intermediate i'm obviously going to go back to bob in houston bob what is the difference in storage when it comes to dead e.t.i. and brant crude well as can you use a bridge tends to be a more global price and the lot of bread is on the water going from $1.00 country to primarily the middle east and other countries to their it through their export markets. in the states we're producing well we were producing about 10000000 barrels a day and it was demand being destroyed here in the states and the export market for us that we've been storing up storage and storage is just about for both of us p.r. which is the strategic petroleum reserve for the government and for private commercial storage so that's caused a lot of the world to shut in we believe right now over a 1000000 barrels a day of pro

this is a bigger concern isn't it because brant is the international standard. that's right kumar so the impact that's a big bt i use having gone brant is very rural now that the theory is here about the we know what's happening in the us we get technical data from the us energy department to tell us how small national reserves are how false to teach reserves are but we don't get that kind of information from the rest of the world so what the concern is right now is is that. is there any shortages in storage spaces internationally and that's being reflected in the in the brant price right now but i can actually tell you that nymex that's the price of the w t r i is also in negative territory again this morning which is not many we're looking at. traders actually paying their buyers one pat $1.58 to take take. take a crude awake so that's a that's the latest. situation which is which is live on our air which is machines right this very moment so we've got this situation the us where there is i lack of storage but it's as president trying to say you know what allo

blend sank to minus $37.00 a barrel the international benchmark brant crude is trading at around $20.00 a barrel but that's still its lowest price since september 11th attacks in 2001 we have gay. real amazon though on wall street tracking the fallout of the us oil crash but 1st our white house correspondent kimberly how kimberly so do we know how much money the trumpet ministration is going to throw the oil industry what shape it's going to take and for how long this bailout may go on for. more left trying to determine if this is an existing program or something new it's really unclear just how much money oil and gas companies could receive when they could receive it which companies could receive it we do know in the past the u.s. president had spoken to both as energy secretary treasury secretary had said that there would be the option of for oil and gas companies to tap into a program called the keris act that was put in place in that rescue package by congress that it was known as sort of phase 3 or this could also be special loans coming through the federal reserve it's really uncl

high brant you know what they're worthless or meaningless because we know it's going to happen this is not a surprise this isn't because of a major economic slowdown this is because companies have to close because we can't create now is it going to cause a problem yes there's going to be a problem in the supply chain there's maybe a plot problem everywhere and many of these businesses will never come back but the other day it's not something that happened because the overall economy was weakening i mean i felt we were already in a recession before we got to this part but this is just all news driven. and again you've got to shut down so business that the layoff employees and that's who are trying to see them avoid by all this free money they're not giving from the fed but at the end of the day it's not a surprise and we shouldn't be shocked by it because these numbers are artificial because once we go back to work and once we can open up the country we're going to be back at normal rates but if you think that we're in a recession you've said it here on this show many times we're alread

hello everyone i'm brant goff it's good to have you with us is this the week that we begin leaving but walked that is the question many are asking here in germany the country's influential national academy of sciences today recommended that a start be made on easing the restrictions imposed to contain the corona virus and you kadam his report came as the number of new confirmed viral cases here in germany fell for the 3rd day running. blame it on the sunshine germans flocked to nearby lakes and pocks to soak it all in over the east a long weekend police patrolled popular areas that found most. were abang the restrictions. and as long as it's necessary i think the rules of fide health has to come from. lightning would definitely be good at some point we need to start earning money again. this syrian may be coming germany's most influential science academy has recommended the lockdown slowly be lifted. primary and secondary schools would gradually reopen with the extra precautions in place and if so should distancing rules are enforced stores and restaurants could follow the academy says

crude is stored because the storage system for brant is the delivery system it's the super tankers and they need to keep those oil wells drilling because if they don't keep them drilling they suffer. well if there is that demeanor of hope it's hidden in the gloom that we've seen there's been a bearish sentiment across the markets in the g.c.c. view seen from the sound will too the musket exchange bahrain and kuwait and everything in between the saudi and the u.a.e. exchange in dubai dropping by more than 2.3 percent the value of saudi aramco and the world's largest producing come old producing company is is down by 1.3 percent so it is a major doom and gloom scenario all do as you said that this a bloodbath that we saw last night with the barrel dropping to around 40 minus $40.00 a barrel was in the it's not the brant crude the benchmark for the world markets but again that under underlying principles are the same there everybody wants to sell oil there are no buy is everywhere over there would store oil is full of there's talk about $160000000.00 barrels on these giant super tankers o

high brant you know what they're worthless or meaningless because we know it's going to happen this is not a surprise this isn't because of a major economic slowdown this is because companies have to close because we can't create now is it going to cause a problem yes there's going to be a problem in the supply chain there's maybe a plot problem everywhere and many of these businesses will never come back but the other day it's not something that happened because the overall economy was weakening i mean i felt we were already in aris. before we got to this part but this is just all news driven and again you've got to shut down so business at the layoff employees and that's what we're trying to see them avoid by all this free money and they're not giving from the fed but at the end of the day it's not a surprise and we shouldn't be shocked by it because these numbers are artificial because once we go back to work and once we can open up the country we're going to be back at normal rates but if you think that we're in a recession you've said it here on this show many times we're already

level of production that prevailed before the crisis so far this year or prices on major benchmarks brant crude in west texas intermediate have been cut in half due to the crowd a virus pandemic and the ongoing price war. and as the number of cases of corona virus has officially eclipsed 1000000 let's take another look at the spread of the virus with archie correspondent saya tavenner so tell us what's going on today you know brown nearly 4000000000 people and that's half of the people on earth are in some sort of quarantine right now bubble of some countries are ordering a full lockdown you know some us states are straight out are resisting and the reason behind not extending lockdown to every state is that already the global economy has collapsed and pretty much 10000000 jobs in the u.s. have disappeared and that's just in the last 2 weeks so there's a lot of tension right now between federal mandated lockdown versus state by while the government is still considering new measures you know the virus is waiting for no one and it's spreading like a firestorm bringing the a latest u.s. numb

oil sector prices a falling because of anxiety about the pandemics economic damage brant crude which is the international benchmark for oil is hovering around $17.00 a barrel which is the lowest it's been in 2 decades with more from the new york stock exchange has been on its own that. was an ominous sign for those hoping wall street had turned a corner in recent weeks the 2nd straight day u.s. stocks rallied at the opening bell as the chaos in the oil markets weighed heavily on investors' minds and apparently on the mind of the president as well as the dow lost nearly 500 points to kick off the trading day president donald trump sent out a tweet promising financial support for u.s. oil producers monday's historic crash in the u.s. oil price deep into negative territory continued to send shock waves on tuesday with other oil markets also falling brant crude the international benchmark dropped to its lowest price since 2002 the problems are many 1st too much oil is being produced much of it sitting in oil tanker ships off shore with nowhere to go does almost no. storage needs to be 1s

benchmarks brant crude in west texas intermediate have been cut in half due to the crowbars pandemic and the ongoing price war. and as the number of cases of coronavirus has officially eclipsed 1000000 let's take another look at the spread of the virus with archie correspondent sara tavenner so tell us what's going on today you know brown nearly 4000000000 people and that's half of the people on earth are in some sort of quarantine right now but will have some countries are ordering a full lockdown you know some us states are straight out are resisting and the reason behind not extending lockdown to every state is that already the global economy has collapsed and pretty much 10000000 jobs in the us have disappeared and that's just in the last 2 weeks so there's a lot of tension right now between federal mandated lockdown versus state but while the government is still considering a new measure as you know the virus is waiting for no one and it's spreading like a firestorm bringing the a latest us numbers to over 250000 with over 66500 deaths and of course the u.s. is not alone here as

oil industry as prices fall because of anxiety over the economic damage of the virus brant crude the international benchmark for oil is hovering around $17.00 a barrel which is its lowest point in 2 decades. but australia is taking advantage of that and it spent $59000000.00 to buy oil at record low prices the oil will help build up a strong leads emergency stockpile will be held in the u.s. reserves initially until storage space is made available locally or straight imports 90 percent of its fuel mostly from the middle east and asia but u.s. storage facilities are fast running out of room this is one in oklahoma it's 70 percent capacity traders say all of the space storage is already booked a lack of storage is a big factor in these falling oil prices to south africa where the president's announced a $26000000000.00 rescue package to deal with the devastating economic impact of covert 19 several run the horse unveiled what he called an extraordinary budget in a special address to the nation $2600000000.00 would go to the poor in the form of grants of africa already under a 5 week lo

deaths while netherlands and belgium are actually climbing the list with over 2000 deaths combined brant what's happening in turkey and greece how have they been handling the spread of this epidemic well ground turkey has so far not fully halted economic activity and imposed quarantines on just 18 provinces in fact turkish president re severed on a still insist that turkey showed showed quote to keep turning the wheels in the economy and that people continue to work to to continue to work me line in greece most of the cases have actually been in refugee camps much of one of which is a home to about 2500 people and that's currently on the very strict quarantine after 20 our residents tested positive for the virus brand now there is a big story going on right now with 2 cruise ships again cruise ships kind of it weirdly at the center of this pandemic off the coast of florida what's going on with that well originally it was just one cruise ship it was a dutch own zonda and with over 2500 passengers aboard and now that quick ship then idled off the pacific coast of central america after the

oil sector as prices for because of anxiety over the economic damage from coronavirus brant crude the international benchmark for oil is hovering around $17.00 a barrel its lowest point in 2 decades. australians taking advantage of the u.s. oil crash though spending $59000000.00 to buy all that record low prices oil will help build up strength is. the emergency stockpile that will be held in the u.s. reserve until storage space is made available locally strelley imports 90 percent of its fuel most from the middle east and asia. u.s. storage facilities though fast running out of room this is one in oklahoma at 70 percent capacity but traders say all of the spare storage is already booked up the lack of story is a big factor in the falling prices at least 7 people are thought of contracted coronavirus during the primary election in the u.s. state of wisconsin earlier this month they include 6 voters and one poll worker identified in milwaukee officials say the number of election related infections could increase after more data becomes available wisconsin has so far 4620 known cases and

deaths while netherlands and belgium are actually climbing the list with over 2000 deaths combined brant what's happening in turkey in greece how have they been handling the spread of dissent well ground turkey has so far not fully halted economic activity and impose quarantines on just 18 provinces in fact turkish president receptor erdogan is still insist that turkey showed showed quote. keep turning the wheels in the economy and that people continue to work to to continue to work me line and greets most of the cases have actually been in refugee camps much of one of which is a home to about $2500.00 people and that's currently on the very strict quarantine after 20 our residents tested positive for the virus brand now there is a big story going on right now with 2 cruise ships again cruise ships kind of it weirdly at the center of this pandemic off the coast of florida what's going on with that well originally it was just one cruise ship it was a dutch own zonda and with over 2500 passengers aboard and now that quick ship than idled off the pacific coast of central america after the c

deaths while netherlands and belgium are actually climbing the list with over 2000 deaths combined brant what's happening in turkey and greece how have they been handling the spread of dissent well ground turkey has so far not fully halted economic activity and imposed quarantines on just 18 provinces in fact turkish president receptor early on is still insist that turkey showed showed quote to keep turning the wheels in the economy and that people continue to work to to continue to work me line in greece most of the cases have actually been in refugee camps much of one of which is a home to about 2500 people and that's currently on the very strict quarantine after 20 our residents tested positive for the virus brand now there is a big story going on right now with 2 cruise ships again cruise ships kind of it weirdly at the center of this pandemic off the coast of florida what's going on with that well originally it was just one cruise ship it was a dutch own zonda and with over $2500.00 passengers aboard and now that quick ship then idled off the pacific coast of central america after t

benchmark w t i sank was to minus $37.00 a barrel the international benchmark the brant crude on the other hand well that's trading at around $20.00 a barrel that's still the lowest price it's traded since the september 11th attacks in 2001. we begin with our white house correspondent kimberly how could she joins us from washington d.c. so kimberly do we have any more of those details yet about how much money the trumpet ministration is going to give the industry and for how long is this an open ended commitment. you know it is this is a this tweet by the u.s. president seems to have caught some of the administration officials are guard because for the most part we've been referred every time we've tried to get a clarification to the energy department or to the department of treasury what is unclear is just exactly you know which companies are going to benefit how much they're going to receive it almost appears as if the u.s. president may be reiterating a request that he made previously to the treasury and energy secretary sensually that would allow for oil and gas companies to take

well the international benchmark for oil brant crude has fallen to just under $20.00 a barrel its lowest point in 18 years and says after the u.s. oil prices crash below 0 and $1.00 is in negative territory the futures figure has since come back but only to about $2.00 a barrel and a big fall in global energy demand because of the pandemic unlocked on measures it means the world now has more crude oil than it can even store and again it has our report. at the beginning of 2020 a barrel of u.s. crude oil cost around $60.00 then came the coronavirus pandemic forcing states toward a lockdown emptying streets closing businesses and shuttering factories across the nation demand dried up and the price fell to $18.00 on monday things took a catastrophic turn for the 1st time in history u.s. oil went into negative territory a doomsday scenario for the entire industry president trump called the drop interesting despite the crushing it in the stock market we're filling up our national petroleum reserves through dziedzic you know the strategic reserves and we're looking to put as much as $75000000.

washington plans to seek damages from beijing when how and how much oil that will be determined later i'm brant gulf in berlin this is the day. we are not happy with china we are not happy with that whole situation. i would like to stress that us politicians are ignoring the facts and lying repeatedly. there are a lot of ways you can hold them accountable we're doing very serious investigations as you probably know to this with the sole purpose of deflecting attention responsibility for the insufficient response to epidemic prevention and control this home because we believe it could have been stopped at the source it could have been stopped quickly and it would have spread all over the world and we think that should have happened we would have to buy u.s. politicians to shift the blame to china not denigrate china's response to the virus and help the u.s. . also coming up tonight the u.k. health system is being hit by the full force of the corona virus outbreak tonight we'll hear from the doctors on the frontline so trust. to people about this if define a lot. more to our viewers on p.b.s. in

well brant as we wrap up the 1st quarter of 2020 the dow is off by 22 percent the worst quarter since 1907 and likewise the s. and p. is also off by 19 percent the worst quarter since 2008. 8 and despite the brief relief rally that we saw in recent days the volatility is not over and we expect to see a retest of previous lows in order to have confidence of where the floor actually is and this all comes as china's p.m.i. for march came in at 52 beating expectations of 45 as a station strong recovery post. the national bureau of statistics announced that there was continued improvement in the prevention and control the outbreak in march and a significant acceleration in the resumption of work and while many are hoping for a v. shaped recovery and are pointing to this data point as evidence that equities can bounce back hard analysts are warning that this p.m.i. reading does not mean that china's economic activities have returned to normal levels in february the economy was pretty much at a full stop so doesn't really take much to rise from such a low base there's still a significant dra

well i think that's correct brant the e.u. is very advanced in regulating and protecting and debating and reflecting for a long time before acting but the time for acting has come regulation isn't a problem creating privacy enabled data pools and then building in scaling solutions really is right in terms of quickly building and scaling those solutions meanwhile thousands will be dying because europe lacks an up to date well governed and well protected in of course privacy assured digital infrastructure so europe just can't seem to make decisions fast enough to really implement these things as quickly as change happens in the world we pass legislation and then very little else happens that we we have to stop talking and we have to start acting yeah i mean it's it's a good point but i just spoke with a member of the italian senate and he's pushing for euro bonds and getting the northern europeans to get on board with that is it's proving to be impossible for him at least at this stage one of the biggest changes in this pandemic

production cuts didn't materialize so it is going to fade to brant pricing but. i doubt right now that we're going to see that in negative territory we are in unprecedented times and president times. the markets and the market is pretty much broken that this particular particular time and it will need underpinning it needs somebody like the united states to come out and say well we're a boy or b. boil which is not being sold we'll find a place to put that where the recent cushing well if they find they've got some reserves somewhere else the u.s. has reserves of it in excess of 750000000 barrels and so if they can find somewhere else to store that then that would be ideal the saudis have a storage facility of 180000000 barrels the chinese have been building the 500000000 barrels storage facility and if these all these storage facilities yet paula because you know ordinarily on any given day there is roughly about 1400000000 barrels of oil stolen waste somewhere in the world to counter any shops that the market so if there was some for summary of unknown reason th

washington plans to seek damages from beijing when how and how much will that will be determined later i'm brant go from berlin this is the day. we are not happy with china we are not happy with that whole situation for that i would like to stress that us politicians are ignoring the facts and lying repeatedly. until there are a lot of ways you can hold them accountable we're doing very serious investigations as you probably know to this with the sole purpose of deflecting attention responsibility for the insufficient response and becoming prevention and control this home because we believe it could have been stopped at the source it could have been stopped quickly and it would have spread all over the world and we think that should have happened we would have been attempts by us politicians to shift the blame to china will not denigrate china's response to the virus and won't help the u.s. . also coming up tonight to the u.k. health system is being hit by the full force of the corona virus outbreak tonight we'll hear from the doctors on the front lawn. trust. to educate people about this if you

well brant as we wrap up the 1st quarter of 2020 the dow is off by 22 percent the worst quarter since 1907 and likewise the s. and p. is also off by 19 percent the worst quarter since 2008 and despite the brief relief rally that we saw in recent days the volatility is not over and we expect to see a retest of previous lows in order to have confidence of where the floor actually is and this all comes as china's p.m.i. for march came in at 52 beating expectations of 45 as a stage of strong recovery post virus the national bureau of statistics announced that there was continued improvement in the prevention and control the outbreak in march and a significant acceleration in the resumption of work and while many are hoping for a v. shaped recovery and are pointing to this data point as evidence that equities can bounce back hard analysts are warning that this p.m.i. reading does not mean that china's economic activities have returned to normal levels in february the economy was pretty much at a full stop so it doesn't really take much to rise from such a low base there's still a significa

well brant as we wrap up the 1st quarter of 2020 the dow is off by 22 percent the worst quarter since 1907 and likewise the s. and p. is also off by 19 percent the worst quarter since 2008. 8 and despite the brief relief rally that we saw in recent days the volatility is not over and we expect to see a retest of previous lows in order to have confidence of where the floor actually is and this all comes as china's p.m.i. for march came in at $52.00 beating expectations of $45.00 as a station strong recovery post virus the national bureau of statistics announced that there was continued improvement in the prevention and control the outbreak in march and a significant acceleration in the resumption of work and while many are hoping for a v. shaped recovery and are pointing to this data point as evidence that equities can bounce back hard analysts are warning that this p.m.i. reading does not mean that china's economic activities have returned to normal levels in february the economy was pretty much at a full stop so doesn't really take much to rise from such a low base there's still a si

well brant as we wrap up the 1st quarter of 2020 the dow is off by 22 percent the worst quarter since 1907 and likewise the s. and p. is also off by 19 percent the worst quarter since 2008. right and despite the brief relief rally that we saw in recent days the volatility is not over and we expect to see a retest of previous lows in order to have confidence of where the floor actually is and this all comes as china's p.m.i. for march connectivity to beating expectations of 45 as a stage of strong recovery post virus the national bureau of statistics announced that there was continued improvement in the prevention and control the outbreak in march and a significant acceleration in the resumption of work and while many are hoping for a v. shaped recovery and are pointing to this data point as evidence that equities can bounce back hard analysts are warning that this p.m.i. reading does not mean that china's economic activities have returned to normal levels in february the economy was pretty much at a full stop so doesn't really take much to rise from such a low base there's still a sig

here in europe today we've seen the dax fall about 3 percent and you mentioned earlier the drop in brant crude interest fallen about 20 percent so investors traders are really sounding the alarm that it's not just the u.s. it's not just oklahoma that's going to have storage problems it's really going to be the whole world that's running out of places to put all of this oil that would likely suggest oil prices are going to continue to fall and that's going to put a lot of pressure on a lot of parts of the economy of the hundreds of thousands of people that work in the oil sector the countries that really depend on oil revenue and also all of the banks and investors that have went money to these oil firms over the past few years i want to ask you about a positive piece of economic news that we heard today a d v e w economic research group released its investor confidence index for germany it suggests that investors are actually upbeat why is that. well there are 2 parts of this report the 1st is how investors feel about the economy right now that part of the survey was was deeply negative

have existed out there and amazon said they were going to crack down but the new angle to this story brant is the fact that hospitals are having to buy a lot of protective equipment right now face masks and p. p. e. like gallons and gloves those kinds of things hospitals have to have this now the way new york law is written essentially in new york state you cannot and then when i read it to you you cannot increase the price of the consumer product by an unconscionably excessive price during an emergency but that's a consumer product for individual consumers those are personal family or household purposes that's the way the law is written in this case what we're seeing is hospitals saying wait a minute as as a professional into tea we can't get this stuff because those prices that been marked way up for instance the one hospital says this they say that the price of a gallon that should normally cost about $0.50 to create is costing $7.00 and a shield a face shield that's worth about a $1.25 it's being sold for $25.00 a shield so the hospitals are saying that they are going to try to buy equ

price brant representing their benchmark for prices in europe and somehow the middle east that's well connected to dubai price it that that will not fall last march but the price of dog duty i asked the benchmark for u.s. production which affects the economics of the shale patch in the us will have to drop significantly to trigger those production costs because although weiss oil is going to keep flowing and we in the absence of any significant recovery in demand storage may be fooled by the end of may so before then we have to see that deep contraction in prices to make it on profitable for that barrel to be used well in the news ahead. we continue to plead for more testing still has not come any anywhere near the numbers that we need a cry for help from the mayor of new york the epicenter of the spiraling u.s. outbreak. we got a big drop in temperatures across northern parts of europe at the moment you see this line of cloud here that is a cold front that sinking its way further south which in the way is coming in from a north big change in temperatures some of the weekend temperatu

iran has been one of the hardest hit countries as well world over where they are today well you know brant even before the u.s. was leading and leading in the number of reported cases the pandemic was already sweeping through iran are currently more than 3200 deaths in iran with over 53000 confirmed cases have died there but their health care system is just devastated but unfortunately that hasn't stopped the trumpet ministration form hitting the country with tougher sanctions and although the u.s. claims sanctions don't apply to humanitarian assistance many countries and companies are still wary of helping iran out of fear that they could also face sanctions and be cut off from the u.s. financial system. so now to follow up also on something we touched up on yesterday were some passengers are now being. led off to question off the coast of florida r t correspondent john heidi is deron in south florida with the latest developments john. and the rotterdam were 2 ships that were basically just waiting off the coast of florida fort lauderdale for the green light to dock at port i've read ever

level of production that prevailed before the crisis so far this year or prices on major benchmarks brant crude in west texas intermediate have been cut in half due to the crowd of buyers pandemic and the ongoing price war. and as the number of cases of coronavirus has officially eclipsed 1000000 let's take another look at the spread of the virus with r.t. correspondent saya tavenner saya tell us what's going on today you know brand nearly 4000000000 people and that's half of the people on earth are in some sort of quarantine right now by the us some countries are ordering at full lock down you know some u.s. states are straight out are resisting and the reason behind not extending lockdown to every state is that already the global economy has collapsed and pretty much 10000000 jobs in the u.s. have this imperia and that's just not last 2 weeks so there's a. a lot of tension right now between of federal mandated lockdown versus state but while the government is still considering a new measure as you know the virus is waiting for no one and it's spreading like a firestorm bringing the a la

ounce and plans to give stimulus funds of about $930.00 to each of japan's $120000000.00 citizens and brant it also appears that indian usually is now has now the most confirmed cases in southeast asia and out in the needle reported almost 6000 cases following the country's largest jaitley jump of more than 400 new infections jest in the last 24 hours and so far restrictions there have been very moderate but on thursday in the near term indonesia's president advised that its citizens stay home during the muslim holy month of ramadan and that's pretty significant brand because a request of the most world's most populated muslim country where an estimated $20000000.00 people traveled for ramadan last year so that's asking a lot of their citizens and in that region brant only china where the virus originated from of course has a higher death toll which then brings me to china of who just revised their official death toll by 50 percent now officials and won with a virus or 1st reported have added a little over 1200 deaths to the cities toll and officials explaining that the deaths had initially

moscow to see whether they can find storage facilities in those countries because we're still seeing the brant price holding up which is traded in london which at $1.00 point used to be a canticle for 90 percent of all all cry all or oil prices around the world now they might we have to say can you take some of that pressure of the u.s. by storing that oil in saudi bunkers or maybe even in china so this is one program this is one particular prospect that could happen right now i'm assuming that. opec plus will be having some kind of conversations to see how they can step in to help the market now i would assume they're also that they would be very very reluctant to help out the united states instead pressuring the stereo producers who they have accused the writing of the back of their production cuts everything the times of being a production cut it's helped the united states the most but with oil prices below $40.00 a barrel it makes sure producers unproductive and before these particular prices 80 percent of those shell producers were expected to go out of business but it's not just about th

what are you hearing at this moment well brant 1st of all as we were just talking about off camera nascar released a statement saying they were trying to start up on may 17th in south carolina that's yet to be determined you have to see is a big win that saying they want to start may 9th would you have said to 49 and 40 but the major ones let's start with the n.b.a. for example they're trying to be one of the 1st major sports in the u.s. to start up and they will have to do 1st of all a 25 day program whenever that would begin with a 14 day quarantine and an 11 day training camp to get back into shape obviously for the players now you heard rumors today the latest was they might finish the season at disney world now if that does happen it's yet to be determined. is a big state that many are looking at because the governor there has relaxed orders to stay home and also deemed appropriate professional sports as essential services now next we have something like the n.h.l. trying to start up with centralized host cities that could be a 4 arena plan and they would also need the 3 weeks traini

is completely landlocked in the us in canada and russia and about 500 miles from water brant is still under considerable pressure today down 6 percent but it is likely to find some sort of support at $20.00 per barrel given its strategic location so the main contracts will expire tomorrow on tuesday but right now the entire front end of the futures curve looks just as ugly the spread between front months is now at the widest ever in history speculators and paper traders roll their contract out well kristie the u.s. equities market also continues to remain extreme. the volatile it tries to find some direction what's happening there. well we looked last a bit today as the market attempted to stage a rally midday as we got some indications that the pandemic is getting under control in the u.s. and that seems to be the near term issue on everybody's mind but then as we look a little bit further earnings and the aftermath then come into focus and that's when you start seeing the market get sold off again on the back of oil so right now the instability and oil markets bled over into equitie

is completely landlocked in the us in canada and russia and about 500 miles from water brant is still under considerable pressure today down 6 percent but is likely to find some sort of support at $20.00 per barrel given its strategic location so the main contract will expire tomorrow on tuesday but right now the entire front end of the futures curves look just as ugly the spread between front months is now at the widest ever in history of speculators and paper traders roll their contract out well kristie the u.s. equities market also continues to remain extremely volatile as it tries to find some direction what's happening there. well we looked last a bit today as the market attempted to stage a rally midday as we got some indications that the pandemic is getting under control in the u.s. and that seems to be the near term issue on everybody's mind but then as we look a little bit further earnings and the aftermath then come into focus and that's when you start seeing the market get sold off again on the back of oil so right now the instability and markets bled over into equities and

is completely landlocked in the us in canada and russia and about 500 miles from water brant is still under considerable pressure today down 6 percent but it is likely to find some sort of support at $20.00 per barrel given its strategic location so the main contracts will expire tomorrow on tuesday but right now the entire front end of the futures curve looks just as ugly the spread between front months is now at the widest ever in history speculators and paper traders roll their contract out well kristie the u.s. equities market also continues to remain extremely volatile as it tries to find some direction what's happening there. well we looked last a bit today as the market attempted to stage a rally midday as we got some indications that the pandemic is getting under control in the u.s. and that seems to be the near term issue on everybody's mind but then as we look a little bit further earnings and the aftermath then come into focus and that's when you start seeing the market get sold off again on the back of oil so right now the instability and oil markets bled over into equitie

with the moment and that's people returning from other countries and a fear of a 2nd wave of the virus brant but i also want to talk about iran the hardest hit country in the middle east they have over $73000.00 confirmed cases with more than $4500.00 but for the moment islamic republics biggest obstacle is what to do about ramadan which is due to start later this month when normally large groups gather each night. either inside houses and onto city streets and i also want to mention going back to china that they're not the only country fearing a 2nd wave of viruses in japan the spread seems to suggest seem to slow and quarantine was lifted and schools were actually allowed to gradually reopen but a sudden increase in infection last week got japanese officials worried who then again close schools brand. experts are fine you know working on finding a vaccine right now and so that leads us to believe that maybe we're near the end of this pandemic which i want to be cautious about but what are we doing to ease some of the economic tension that we're seeing well brand globally world leaders are

before the crisis so far this year oral prices on major benchmarks brant crude in west texas intermediate have been cut in half due to the crowbars pandemic and the ongoing price war. and as the number of cases of coronavirus has officially eclipsed 1000000 let's take another look at the spread of the virus with our chief correspondent saya tavenner so tell us what's going on today you know brown nearly 4000000000 people and that's half of the people on earth are in some sort of quarantine right now but will have some countries are ordering a full lockdown you know some u.s. states are straight out are resisting and the reason behind not extending lockdown to every state is that already the global economy has collapsed and pretty much 10000000 jobs in the u.s. have disappeared and that's just in the last 2 weeks so there's a lot of tension right now between federal mandated lockdown versus state but while the government is still considering a new measure as you know the virus is waiting for no one and it's spreading like a firestorm bringing the a latest u.s. numbers to over 250000 with o

ounce and plans to give stimulus funds of about $930.00 to each of japan's $120000000.00 citizens and brant it also appears that indian usually is now has now the most confirmed cases in southeast asia in the needle reported almost 6000 cases following the country's largest jaitley jump of more than 400 new infections jest in the last 24 hours and so far restrictions there have been very moderate but on thursday in the near term indonesia's president advised that its citizens stay home during the muslim holy month of ramadan and that's pretty significant brand because a request of the most world's most populated muslim country where an estimated $20000000.00 people traveled for ramadan last year so that's asking a lot of their citizens and in that region brant only china where the virus originated from of course has a higher death toll which then brings me to china of who just revise their official death toll by 50 percent now officials and won with a virus or 1st reported have added a little over 1200 deaths to the cities toll and officials explaining that the deaths had initially gone unc

is completely landlocked in the us in canada and russia and about 500 miles from water brant is still under considerable pressure today down 6 percent but is likely to find some sort of support at $20.00 per barrel given its strategic location so the main contract will expire tomorrow on tuesday but right now the entire front end of the futures curves look just as ugly the spread between front months is now at the widest ever in history of speculators and paper traders roll their contract out well kristie the u.s. equities market also continues to remain extremely volatile as it tries to find some direction what's happening there. well we looked last a bit today as the market attempted to stage a rally midday as we got some indications that the pandemic is getting under control in the u.s. and that seems to be the near term issue on everybody's mind but then as we look a little bit further earnings and the aftermath then come into focus and that's when you start seeing the market get sold off again on the back of oil so right now the instability and oil markets bled over into equities

in contrast is completely landlocked in the us in canada and russia and about 500 miles from water brant is still under considerable pressure today down 6 percent but is likely to find some sort of support at $20.00 per barrel given its strategic location so the main contracts will expire tomorrow on tuesday but right now the entire front end of the futures curve looks just as ugly the spread between front months is now at the widest ever in history a speculators and paper traders roll their contracts out well kristie the u.s. equities market also continues to remain extremely volatile as it tries to find some direction what's happening there. well we looked last a bit today as the market attempted to stage a rally midday as we got some indications of the pandemic is getting under control in the u.s. and that seems to be the near term issue on everybody's mind but then as we look a little bit further earnings and the aftermath then come into focus and that's when you start seeing the market get sold off again on the back of oil so right now the instability and markets bled over into equi

level of production that prevailed before the crisis so far this year or so prices on major benchmarks brant crude in west texas intermediate have been cut in half due to the crowded buyers pandemic and the ongoing price war . and as the number of cases of coronavirus has officially eclipsed 1000000 let's take another look at the spread of the virus with r t correspondent saya tavenner so tell us what's going on today you know brown nearly 4000000000 people and that's half of the people on earth are in some sort of quarantine right now bubble of some countries are ordering a full lockdown you know some us states are straight out are resisting and the reason behind not extending lockdown to every state is that already the global economy has collapsed and pretty much 10000000 jobs in the us have disappeared and that's just in the last 2 weeks so there's a lot of tension right now between federal mandated lockdown versus state by while the government is still considering new measures you know the virus is waiting for no one and it's spreading like a firestorm bring in the a latest us numbers to

ounce and plans to give stimulus funds of about $930.00 to each of japan's $120000000.00 citizens and brant it also appears that indian usually is now has now the most confirmed cases in southeast asia and out in the nida reported almost 6000 cases following the country's largest jaitley jump of more than 400 new infections jest in the last 24 hours and so far restrictions there have been very moderate but on thursday in the near term the indonesia's president advised that its citizens stay home during the muslim holy month of ramadan and that's pretty significant brand because a request of the most world's most populated muslim country where an estimated $20000000.00 people traveled for ramadan last year so that's asking a lot of their citizens and in that region brant only china where the virus originated from of course has a higher death toll which then brings me to china who just revise their official death toll by 50 percent now officials and won with a virus or 1st reported have added a little over $1200.00 deaths to the cities toll and officials explaining that the deaths had initial

ounce and plans to give stimulus funds of about $930.00 to each of japan's $120000000.00 citizens and brant it also appears that indian usually is now has now the most confirmed cases in southeast asia in the needle reported almost 6000 cases following the country's largest jaitley jump of more than 400 new infections jest in the last 24 hours and so far restrictions there have been very moderate but on thursday in the near to indonesia's president advised that its citizens stay home during the muslim holy month of ramadan and that's pretty significant brand because a request of the most world's most populated muslim country where an estimated $20000000.00 people traveled for ramadan last year so that's asking a lot of their citizens and in that region brant only china where the virus originated from of course has a higher death toll which then brings me to china oh who just revised or official death toll by 50 percent now officials and won with a virus or 1st reported have added a little over 1200 deaths to the cities toll and officials explaining that the deaths had initially gone uncount