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Oil prices have rallied after a call between Donald Trump and Vladimir Putin raised hopes that tensions between Moscow and Saudi Arabia may start to ease.
Analysts suggest Trump could be willing to cut US shale production or ease sanctions on Russian oil companies, such as Rosneft, in order to lure Moscow back into negotiations with the Opec oil cartel.
Elsa Lignos, a senior strategist at RBC Europe, said: “Yesterday Trump called Putin in what our commodities team says ‘may prove to be an important turning point in the standoff between Moscow and Riyadh’. They argue a rollback of some US energy sanctions could be the catalyst for getting Russia back to the Opec+ bargaining table.
“A key question for the White House is whether it is worth continuing with the sanctions if they prevent a production agreement which could help save the US shale industry.”

Kalyeena Makortoff

https://www.theguardian.com/business/2020/mar/31/oil-prices-trump-putin-saudi-arabia-saudi-arabia-shell

Daltry's ambitions, so far as I can make out, are to survive Corona, get his money back or make some profit from his investment in HUR, and get his wife's permission to return home from his garden shed.

Any sinister motives attributed to him are unfounded.

'One of the biggest Condom manufacturers in the world has just been closed down because of Corona Virus at the factory !'

(BlooBird)

I thought it closed down because of the now almost universal practice of keeping two metres away from anyone else (presumably including one's spouse, which may be providing some people with much-needed relief).

'Unlike Cancer or Heart Disease or Stroke or whatever - this coronavirus is something that is within our power to stop and prevent. It's within our capability to minimise the damage and minimise the deaths. So why as a human race would we not?
Unless of course money means more to you then human life? '

If by 'you', you mean me, LC, then you have completely misunderstood what I am saying.
What I wanted to say is that it would be interesting to see last year's - or a normal year's - fatality figures and compare them with the present ones.
The difference might give a better indication of the number of deaths being caused by the virus.
I've never said that I support a laissez-faire approach.
If you click on my name and look at my comments of 19:24 and 19:39 on 27 March and 09:34 on 25 March , and especially the fourth line of my comment at 22:40 on 24 March, you will see that my view is quite the opposite!

The number of COVID-19 fatalities is small compared to the 12 million total number of people who have already died this year from all causes, but the numbers could reach 3.6 million in just eight weeks at the current pace of deaths doubling each week. In the counterfactual, without COVID-19, we would expect 60 million global deaths in 2020, with 18 million people dying from heart disease, 10 million from cancer, 6.5 million from respiratory diseases, 1.6 million from diarrhea, 1.5 million in road incidents, and 1 million deaths from HIV/AIDS. Suicides could number 800,000.

https://www.brookings.edu/blog/future-development/2020/03/23/a-mortality-perspective-on-covid-19-time-location-and-age/

Locals in Wuhan believe 42,000 people may have died there from Corona Virus.

https://www.dailymail.co.uk/news/article-8165717/Locals-Wuhan-believe-42-000-people-died-coronavirus.html

'PMO will survive. The question is in what form. If this drags on few companies will survive. PMO has great prospects, but high debt. If this goes on for a year or more ...'

If this goes on for much longer, Trump will know that he won't survive politically.

Thanks, CS.

Germany's latest daily death toll is 92, with a hundred times that number having recovered - a most remarkable statistic.

You must be a master of understatement, Ohmetoe.

The price of PMO follows the POO, and when POO becomes negative, the PMO SP will be negative, and posters will be paid to 'buy' PMO shares.

I've placed an order with my broker for 1,000,000 shares at minus 0.5p.

Don't you mean the Jerusalem Post, Rambler?

As the refining system withers, the crude oil market is suffering. Many crudes, especially sticky, sulfurous grades that refiners find hard to process, trade at hefty discounts to international benchmarks. Western Canadian Select, a tarry blend squeezed from Alberta’s oil sands, reached a record low of $4.51 a barrel on Friday.
In physical oil markets, barrels are already changing hands for less than $10, and in a few landlocked markets producers are paying consumers to take away their crude.
In the U.S., Oklahoma Sour is changing hands at $5.75, Nebraska Intermediate at $8, while Wyoming Sweet prices at $3 a barrel.
In one obscure corner of the American crude market, prices have already turned negative. Wyoming Asphalt Sour, a dense oil used mostly to produce paving bitumen, was bid at minus 19 cents a barrel in mid-March by Trading Mercuria Energy Group Ltd.

https://www.bloomberg.com/news/articles/2020-03-29/the-global-oil-market-is-broken-drowning-in-crude-nobody-needs

Saudi Arabia's air defences have intercepted two ballistic missiles above the kingdom's capital, Riyadh, and the southern city of Jizan, according to a spokesman for the Saudi-led coalition fighting in Yemen.

https://www.aljazeera.com/news/2020/03/rockets-intercepted-saudi-capital-riyadh-jazan-report-200328212702883.html

COVID-19: Saudi Arabia shuts entry and exit into Jeddah, brings forward curfew

Earlier, same measures were applied to Riyadh, Mecca and Medina

https://gulfnews.com/world/gulf/saudi/covid-19-saudi-arabia-shuts-entry-and-exit-into-jeddah-brings-forward-curfew-1.70690333

I think those three shorter now hold 1.29 percent combined, (0.48, 0.48 and 0.33), so in fact they haven't gone yet.

What some people call 'divine punishment' is really nature's revenge on humanity for its disrespect for other species and the environment.

Moody’s, meanwhile, says it expects prices to stabilize to $40-$55 a barrel for the year 2020, and grow to $50-$55 a barrel in 2021 pending a resumption in global economic growth.

https://sputniknews.com/business/202003271078728047-saudi-oil-industry-at-risk-as-american-european-refiners-refusing-riyadhs-crude--reports/

It's interesting that Moody's foresee prices of $40-55 this year, whereas Goldman Sachs are talking about $10.

Refineries in the United States and Europe are rejecting to accept any more Saudi oil, even at discounted prices, owing to a crude glut and lack of storage space, the Wall Street journal has reported, citing Saudi officials and oil traders.
Gulf Agency Company Ltd, a Dubai-based maritime logistics company, says buyers in India have also cut back on Saudi crude as that country has gone into lockdown to try to slow the spread of COVID-19. According to the company’s sources, at least 52 Indian ports have invoked a force majeure amid the outbreak, allowing them to cancel orders without incurring penalties.
Traders also told the WSJ that Russia – the oil exporter whose market share Saudi Arabia has been most keen to capture, has been able to compensate some of the decline in exports to Europe by redirecting them to China, a country where demand has been enjoying a slow recovery amid that country’s efforts to fight the pandemic.
Earlier this week, Bloomberg warned that declining oil revenues may lead to an “unthinkable balance-of-payments crisis” for Riyadh and end the country’s decades’ long policy of pegging its currency, the riyal, to the US dollar. The business news outlet warned that the country’s central bank reserves plus sovereign wealth fund minus government debt currently stand at just 0.1 percent of GDP, down from as much as 50 percent of GDP just six years ago, and predicted that the country would become a net debtor “for the foreseeable future, even if prices rise back above $80.”
Moody’s, meanwhile, says it expects prices to stabilize to $40-$55 a barrel for the year 2020, and grow to $50-$55 a barrel in 2021 pending a resumption in global economic growth.

https://sputniknews.com/business/202003271078728047-saudi-oil-industry-at-risk-as-american-european-refiners-refusing-riyadhs-crude--reports/

That's an interesting history, Manyana.
I don't see, though, how giving away Britain's computer know-how could damage Churchill's chances of sainthood, and among leaders during World War Two, he comes out near the top in moral terms.
I agree with you about Chinese eating habits; I am sure they have far more to do with perverse appetite than hardship.
I also agree that responsibility for the outbreak rests with China.
Not that I wish it upon the Chinese, but having exported it, they are now unintentionally importing it with Chinese returning from abroad.

Well, DC, I've been shot down so many times here for alleged ramping, that I decided to add a touch of realism to my comments.

Frankly, if Trump allows the price to fall to $10 - and I am implying that he could prevent that from happening - then he deserves to lose the election in November, and MBS deserves the revolution he is asking for.

Total 0.0%

Of course, if Brent drops to $10, they could be back...