Ready for any test; will quit Mutt if charges against me are proven: Pejawar seer

Mangaluru, Mar 21: Taking strict measures to contain the spreading of COVID-19, Dakshina Kannada Deputy Commissioner Sindhu B Rupesh, who is also District Magistrate, ordered sealing of road connectivity leading to Kerala State for all kinds of traffic from March 21 to midnight of March 31.

No vehicles will be allowed to operate between Dakshina Kannada and Kasaragod district in Kerala, the Deputy Commissioner said in a late-night order on Friday.

Ms. Rupesh said that in case of any emergency, vehicles will be allowed only through the Talapady check post on the National Highway 66, which is about 17 km away from Mangaluru city.

The Deputy Commissioner’s order came after the Kasaragod district reported six COVID-19 positive cases on Friday.

The order said that many vehicles operated between Kasaragod in Kerala and Mangaluru and hence, there is a need to take precautionary measures.

Private buses to not ply

Private bus operators in Dakshina Kannada will not operate their buses on March 22 to support the ‘Janata Curfew’ called by Prime Minister Narendra Modi.

Dilraj Alva, president, Dakshina Kananda Bus Operators’ Association, said in a release on Friday that people should remain in their homes on Sunday to help contain the community spreading of COVID-19. The decision has been taken in the interest of the public, he said.

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.

Hubballi, May 14: South Western Railway (SWR) has so far ferried about 54,000 passengers, including migrant workers, students and stranded people to 11 states to reach their home towns by Shramik Special trains.

So far 40 Shramik Specials were run one each from Kabakaputtur in Mysuru and Hubballi and remaining 38 from Chikkabanavara/Malur from Bengaluru area. About 54,000 passengers were ferried to different parts of the country. Maximum Shramik Specials trains train services were run to Lucknow (9) and Danapur (7).

Shramik Specials were run to Bihar (Bakora, Danapur, Baruni, Darbhanga), West Bengal (Purila, Bankura, New Jalpaiguri), Jharkhand (Hatia, Barkakana), Rajasthan (Jaipur, Udaipur), Uttar Pradesh (Lucknow, Gorakhpur), Orissa (Bhubaneswar), Madhya Pradesh (Gwalior), Uttarakhand (Haridwar), Himachal Pradesh (Una), Tripura (Agartala) and Jammu and Kashmir (Udhampur).

SWR is transporting passengers to their destination as per the demand of the State Government with proper protocol and the receiving State Government is ready to accept them.