6-year-old girl’s organs give new lease of life to 5 people

Global oil markets remained under intense pressure on Tuesday, with Brent crude dropping below $20 per barrel for the first time in 18 years while other major benchmarks across the world tumbled. 

Brent, the international crude marker, slipped to $18.10, indicating that markets see no immediate let-up to the collapse in oil demand that sent some US oil benchmarks plunging under $0 for the first time on Monday, leaving producers paying for buyers to take their oil away while available storage is scarce.

Coronavirus has sent the oil sector into a state of crisis, with lockdowns implemented by authorities to smother the outbreak slashing demand for crude by as much as a third.

Contracts for the US benchmark West Texas Intermediate for delivery next month tumbled as low as minus $40 a barrel on Monday. Analysts at Citi warned that “if global storage worsens more quickly, Brent could chase WTI down to the bottom”.

The collapse in the May WTI contract was partly a technical product of the fact that it expires on Tuesday, meaning trading volumes were low and making the contract for June delivery more noteworthy, analysts said. That contract held above $20 a barrel on Monday but slid as much as 42 per cent on Tuesday to trade at lows of $11.79, suggesting the blowout in the May contract was more than a blip and that the entire global oil market faced challenges.

Goldman Sachs analysts said the June contact was likely to face downward pressure in the coming weeks, pointing to the “still unresolved market surplus”.

“As storage becomes saturated, price volatility will remain exceptionally high in coming weeks,” they said. “But with ultimately a finite amount of storage left to fill, production will soon need to fall sizeably to bring the market into balance, finally setting the stage for higher prices once demand gradually recovers.”

Warren Patterson, head of commodities strategy at ING, said it was likely that “storage this time next month will be even more of an issue, given the surplus environment”.

“And so in the absence of a meaningful demand recovery, negative prices could return for June,” he added.

European equities traded lower, partly dragged down by weaker energy stocks. The continent-wide Stoxx 600 was down 1.9 per cent, with its oil and gas sub-index dropping 3.3 per cent. In London the FTSE shed 1.7 per cent, while Frankfurt’s Dax slid 2.3 per cent. 

Equities were also broadly lower in Asia, with futures tipping US stocks to fall 1 per cent when trading in New York begins later.

On Wall Street overnight, the S&P 500 closed down 1.8 per cent, partly because of weakness in energy shares, but also due to increased pessimism over the time it will take for countries to emerge from lockdowns.

In fixed income, the yield on the 10-year US Treasury fell 0.03 percentage points to 0.585 per cent as investors retreated to the safety of the debt.

Bengaluru, May 30: A city corporator in Bengaluru was sent into quarantine on Saturday after he tested positive for the coronavirus infection, officials said.

"Yes, I have tested positive," Padarayanapura municipal ward corporator Imran Pasha told some news channels.

The JDS corporator said he would quarantine himself as per the regulations.

The entire area where Pasha lives was cordoned off.

Health workers reached there in an ambulance and gave him a personal protection gear to wear and he was taken to a designated hospital.

Reacting to the development, Karnataka Revenue Minister R Ashoka claimed Pasha hardly paid heed to the COVID-19 regulations.

"He rushes to all those places wherever there are positive cases...," Ashoka told reporters.

Padarayanapura was declared as a containment zone earlier with a few cases coming to the fore.

It was in this area where some policemen and health workers were attacked when they went to quarantine a few primary and secondary contacts of a COVID-19 patient about a month ago.

Following the incident, about 125 people were arrested, and later quarantined after a few of them tested positive.

Mangaluru, Jan 31: Mahesh Vikram Hegde, the co-founder of website 'Postcard News', known for spreading fake news on behalf of Sangh Parivar, was taken aback when he was asked to sing 'Vande Mataram' to prove his patriotism by a group of women activists at Mangaluru International Airport.

The video of the incident which occurred on Friday, days after editor-in-chief and co-founder of Republic TV Arnab Goswami was heckled by comedian Kunal Kamra on a flight, went viral on social media within hours.

Hegde was spotted by social activist Kavitha Reddy, and other young orators – Najma Nazeer and Amulya Leona – at the airport where he was waiting to board a plane to Bengaluru.

In a video, the three women are seen coercing Hegde to sing 'Vande Mataram' and prove his patriotism. In another video being circulated, the women are heard telling the journalist that he is getting an opportunity to become a 'hero' from 'zero' if he sings 'Vande Mataram.' However, he refused to open his mouth.

Reddy is seen asking Hegde whether he knew the time when Nathuram Godse assassinated Mahatma Gandhi.

Hegde was arrested in 2018 for posting a fake news aimed at creating communal conflict.

When saffron journalist Vikram Hegde refuses to sing 'Vande Mataram' pic.twitter.com/4TZHbpkvtd

— coastaldigest.com (@coastaldigest) February 1, 2020