Grand welcome for Janardhana Reddy in Ballari

Kasaragod, Apr 17: Even as this district continue to remain in the high-alert red zone category of Covid-19, Kasaragod has slowly but steadily been limping back to restraint level of the pandemic from a possible slipping into a stage-3 of community spread early this month.

Thanks to the stringent and committed measures implemented by the district administration crisscross the district besides total isolation of few localities by enforcing triple lockdown.

The district had been a Covid-19 hotspot ever since an NRI who returned from the Gulf violated quarantine protocol and travelled wide and far by meeting and contacting with several people including two MLAs of the district. That apart the irresponsible attitude of the people who broke the rules of quarantine and lockdown norms also made things go from bad to worse resulting in contributing for a near-half of the total positive cases in the state at the beginning of April.

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.

Udupi, May 16: Close on the heels of six Covid-19 cases being detected in a little over 24 hours, Udupi recorded its first death of a Covid-19 patient. The victim is a 54-year-old man from Mumbai, who died due to a heart attack on Thursday. His reports came back on Saturday, and confirmed that he had Covid-19. The Udupi district administration has arranged to carry out his last rites as per government designated guidelines for Covid-19 victims.

A medical bulletin issued by the superintendent of Kasturba Hospital, Manipal, stated that the patient was admitted due to a heart-related issue on May 13.

Some members on the team that treated the patient have been quarantined. The hospital’s emergency department will operate as usual, and the outpatient department will operate as usual from 8.30am to 1pm, following government guidelines, the bulletin said. Deputy commissioner G Jagadeesha said that since the patient was from Mumbai, the authorities collected his swab sample for testing, as a precautionary measure.

The man suffered from chest pain, and was initially taken to the taluk hospital at Kundapur from where he was shifted to Kasturba Hospital, due to the seriousness of his condition. The doctors operated on him on May 13, and he suffered a severe heart attack on May 14 and died, the DC said. “Three hospital staff without PPE kits, who attended to the patient, have been quarantined,” the DC said, adding that the operating doctors and nurses had worn PPE kits.

In addition, 5 others who travelled with the person from Mumbai and 57 people with him at the Kundapur isolation centre, have been designated as primary contacts, and 38 others as secondary contacts, and quarantined. The staff at Kundapur taluk hospital too had taken precautions in handling the patient, the DC said. Udupi presently has six active cases, including a 1-year-old child and 5 others, all of whom returned from Dubai on May 12.