Oil prices continue to crumble, stocks around the world drop

A man wearing a mask against the spread of the new coronavirus looks at an electronic stock board showing world stock indexes at a securities firm in Tokyo Tuesday, April 21, 2020. Asian shares skidded on Tuesday after U.S. oil futures plunged below zero as storage for crude runs close to full amid a worldwide glut as demand collapses due to the pandemic.

Prices are still above zero for oil elsewhere in the world and for deliveries further into the future. But they slid sharply Tuesday on the same ultimate concern: A global economy incapacitated by the virus outbreak doesn’t need to burn as much fuel. Airplanes are parked, cars are garaged and factories are idled with millions of workers losing their jobs every week.

But the data coming in on the economy in the here and now continues to be dismal. A report Tuesday showed that sales of previously occuppied homes in the United States fell even more than economists expected last month. But the economic pain is most clear in the oil market. Prices are higher for oil to be delivered later in the summer, when demand could conceivably be stronger as lockdowns lift. But even there, optimism is flagging.

Stay out of the stock market. Everybody is in cash and physical precious metals.

Oh boy another bargain day on wall st.

We knew that this had to happen after all this Covid19 is a horrible sickness. It kills without impunity! It has upset the world. China has a lot to answer for monetarily and being watched for years and years by the world. I believe they should be held responsible.

Fek the stock market and fek the oil and gas industry! Testing testing testing.

Well we are poised for a few million people filing for unemployment later in the week which apparently the market loves, so I'm sure it will rebound.

Get That boost you need, Stay on top!!

President Donald Trump was caught in a lie saying he hasn’t left the White House in months, even though he held campaign rallies in February and March and played golf

So tired of winning....

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil price crash: Record amounts of oil stored in tankers amid pandemic - Business Insider60% more oil is being stored at sea in oil tankers than the previous record high during the 2009 financial crisis. Wow What could go wrong? Brilliant moves because buying on the spot Market is going to mean huge profits in the future... The Futures Market
Source: BusinessInsider - 🏆 729. / 51 Read more »

Crude oil is back above $1 after the oil market's worst day on recordThe global coronavirus pandemic has brought countries around the world to a standstill. Here's the latest updates on worldwide Covid-19 cases, deaths, government responses, and more. You’re reporting this but have no context into what it means. Sad. it's currently at -4.51 alternative energy is going to have a hard time competing.
Source: CNN - 🏆 4. / 95 Read more »