Karthik Nilagiri

கார்த்திக் நீலகிரி

April 20, 2020 •

These Personal Protective Equipments (PPE) of sub-registrar employees more rightly belong to medical, sanitary and law & order persons...

#CoronaQuarantine

கார்த்திக் நீலகிரி

April 20, 2020 •

வடிவு... Competitionல யாரெல்லாம் ஜெயிச்சாங்க... சொல்ல்லு வடிவு...

சொன்னா செத்துருவ மூதேவி...

#CoronaQuarantine

கார்த்திக் நீலகிரி

April 20, 2020 •

Crude crashes... Brace for an economic catastrophe...

//Oil plunged below $5 a barrel as the coronavirus pandemic ravages global economies, threatening to erase an entire decade of demand growth, slashing thousands of jobs and wiping out hundreds of billions of dollars from company valuations.//

//Industrial and economic activity is grinding to a halt as governments around the globe extend shutdowns due to the swift spread of the coronavirus. Oil has faced its own knock-on effects with a market massively oversupplied and nowhere to put physical barrels of crude. An unprecedented output deal by OPEC and allied members a week ago to curb supply is proving too little too late in the face a one-third collapse in global demand.//

//On Monday, a technical oddity exacerbated the price plunge as traders fled the May futures contract ahead of its expiration tomorrow, driving it down as much as 78% to the lowest level since futures began trading in New York in 1983. The following month’s contract fell 11% to $22.22 a barrel. CME group said it’s possible that May WTI contract could trade negative.//

//There are signs of weakness everywhere. Buyers in Texas are offering as little as $2 a barrel for some oil streams, raising the possibility that producers may soon have to pay to have crude taken off their hands.//

Oil Plunges Below $5 With Traders Fleeing Expiring Contract