Oil prices drop amid supply glut, fears of second coronavirus wave

first_imgBut possible signs of a second wave of coronavirus infections in northeast China and South Korea worried investors even as more countries started to pivot towards easing pandemic restrictions in moves that could support oil demand.“They’ve removed some of the lockdowns but does that mean the worse is over for now?” said Tony Nunan, a senior risk manager at Mitsubishi Corp in Tokyo.Global oil demand has plummeted by about 30 percent as the coronavirus pandemic curtailed movement across the world, building up inventories globally.“Oil companies are dealing with a plethora of challenges due to the sudden decline in demand,” GlobalData oil and gas analyst Haseeb Ahmed said in a note. “North America is battling a severe shortage of storage capacity … it may be only a matter of time, before the country (the United States) runs out of storage space.”Fears that the United States is running out of storage space triggered WTI prices crashing into negative territory last month, prompting some US producers to slash output.In a sign of that impact, the number of operating oil and gas rigs in the world’s largest oil producer fell to 74 in the week to May 8, a record low according to data released on Friday from energy services firm Baker Hughes Co (BKR.N) going back to 1940.“People are surprised by how quickly the US is shutting in production and that’s exactly what we need in order to support prices,” said Mitsubishi’s Nunan.“There’s another 10 days before the June contract expires … if the WTI contract can avoid a crash going into expiry, hopefully we’ve seen the bottom.”Topics : Oil prices slid nearly US$1 a barrel on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers.Brent crude futures LCOc1 were down 73 cents, or 2.4 percent, at $30.24 a barrel by 0114 GMT, while US West Texas Intermediate crude futures CLc1 fell 81 cents, or 3.3 percent, to $23.93 a barrel.Both benchmarks have notched gains over the past two weeks as countries have eased business and social lockdowns imposed to cope with the coronavirus and fuel demand has rebounded modestly. Oil production worldwide is also declining.last_img read more

Lady Bulldogs Fall To Lady Lions In MS Hoops

first_imgThe 7th Grade Lady Dogs faced a tough Benjamin Rush team falling by the score 44-25.The game was quite close through the first three quarters with the Lady Cubs holding a slim, 3 point margin at half (16-13) and only a 6 point advantage at the end of the 3rd quarter (27-21). Solid free throw shooting and a balanced scoring attack proved too much in the end.Carlie Werner led the team in scoring with 11 points, while Liz Heidlage directed the offense from her point guard position and netted 8 points. Ellie Cassidy, Macy Prickel, and Abby Westerfeld each contributed 2 points to round out the scoring.The Lady Dogs hit the road to play South Ripley on Monday.Courtesy of Bulldogs Coach Shelly Prickel.The BMS 8th Grade Girls’ Basketball team lost to Rushville by a score of 42 to 20.The Lady Dogs fell behind early but continued to work throughout the game closing within 10 points at the end of the 3rd quarter. Rushville finished strong and held BMS scoreless in the 4th quarter to secure the win. After giving up 28 points in the first half to Rushville, BMS held the Lady Lions to only 14 points in the second half.Kendall Dickman led Batesville in scoring with 12 points. Hattie Westerfeld (6 points) and Ellie Waechter (2 points) rounded out the scoring.Courtesy of Bulldogs Coach Thomas Barnett.last_img read more

Anthony Joshua, Tyson Fury agree terms for two-fight deal

first_imgAnthony Joshua and Tyson Fury have reached an agreement over a two-fight deal, according to promoter Eddie Hearn. Joshua is in line to face Fury The British heavyweights currently hold all the belts in the heavyweight division, with one of them on course to unify the heavyweight league. While both have hurdles to overcome, with Joshua still to face Bulgaria’s Kubrat Pulev and Fury set for a trilogy fight with Deontay Wilder, the pair have provisionally agreed to enter the ring together for the ultimate all-British heavyweight showdown. ‘We’re making great progress,’ Hearn told Sky Sports News. ‘There is still a lot to overcome. We are looking at venues and dates. ‘We have the Dillian Whyte mandatory which is due before this fight. ‘It’s fair to say [Joshua and Fury] are in agreement regarding the financial terms of the fight. ‘We’ve been talking to [Fury’s management team] MTK, giving them the assurances from Joshua’s side that all the details on the structure of the deal is approved from our side. And it is from Fury’s side, as well. ‘We’re in a good place. It’s fair to say that, in principle, both guys have agreed to that fight. Two fights. ‘A lot to overcome in the meantime. We’re moving in the right direction. I’m confident that both guys have giving their blessing for the fight to go ahead.’ Fury’s promoter Frank Warren had previously suggested the fight would be a 50-50 split, while insisting his fighter would come out on top. ‘It’s not a difficult fight to make. Whatever is on the table is 50-50,’ Warren told Sky Sports. ‘Fury is the No. 1 heavyweight but we don’t say 60-40. 50-50 down the middle. Hearn confirmed a deal has been struck Read Also: Video: Ronaldo’s late penalty salvages draw for Juventus ‘Fury? I know I speak on his behalf – he wants the fight. More than anything, he wants the fight. ‘All day long, Tyson Fury beats AJ. I had this conversation 18 months ago when Tyson came back. It’s not an issue. This is the fight he wants.’ FacebookTwitterWhatsAppEmail分享 Loading… center_img Promoted Content7 Truly Incredible Facts About Black HolesWho Is The Most Powerful Woman On Earth?Stunning Wedding Outfits From All Around The WorldThis Guy Photoshopped Himself Into Celeb Pics And It’s HystericalBirds Enjoy Living In A Gallery Space Created For ThemPlaying Games For Hours Can Do This To Your Body12 Countries With Higest Technology In The WorldBest & Worst Celebrity Endorsed Games Ever MadeWhich Country Is The Most Romantic In The World?Couples Who Celebrated Their Union In A Unique, Unforgettable Way8 Superfoods For Growing Hair Back And Stimulating Its Growth10 Greatest Disney Female Villains We Love Anywayslast_img read more

Magic coach Steve Clifford: Markelle Fultz likely is done for season

first_img Magic G Markelle Fultz: It excites me to have a coach that will push me to be better “I don’t think so,” Clifford said when asked if Markelle Fultz will play this season. “He’s still rehabbing his shoulder and he’s not even able to really do much on the floor yet. It’s a pretty significant shoulder injury.”I would say he’s starting to do a little bit, but it would be very difficult for him to get back this year.” Related News The Markelle Fultz experiment in Orlando likely will have to wait until next season.Magic coach Steve Clifford told SiriusXM NBA Radio Monday that Fultz probably won’t suit up for the team this season due to his injured shoulder. Fultz has been dealing with shoulder issues since the beginning of the season when he still was with the 76ers. He’s only played in 19 games this season and has averaged 8.2 points, 3.7 rebounds and 3.1 assists in that time.He was traded to the Magic on Feb. 7 in return for guard Jonathon Simmons, a protected first-round pick and a second-round pick in the 2019 NBA Draft. 🔊 @OrlandoMagic HC Steve Clifford joined @JaredSGreenberg & @bwood_33 and gave an update on Markelle Fultz pic.twitter.com/fGMIwI5OC8— SiriusXM NBA Radio (@SiriusXMNBA) March 4, 2019When asked what exactly was going on with Fultz, Clifford said he wasn’t 100-percent sure, but said it was tissue build-up and that he needed a lot of physical therapy.last_img read more