Multi-Million-Dollar Homes Destroyed, Hollywood Stars Flee L.A. Wildfire

Hong Kong, Apr 20: Oil prices collapsed to more than two-decade lows Monday as traders grow concerned that storage facilities are reaching their limits, while equities were mixed, with some support coming from signs that the coronavirus may have peaked in Europe and the United States.

US crude benchmark West Texas Intermediate briefly plunged almost 20 percent to below 15 -- its lowest since 1999 -- as stockpiles continue to build owing to a crash in demand caused by the COVID-19 pandemic.

Analysts said this month's agreement between top producers to slash output by 10 million barrels a day was having little impact on the oil crisis because of lockdowns and travel restrictions that are keeping billions of people at home.

WTI was hit particularly hard as its main US storage facilities in Cushing, Oklahoma, were filling up.

ANZ said "crude oil prices remained under pressure, as projections of weaker demand weigh on sentiment".

"Despite the OPEC+ alliance agreeing to an unprecedented cut in output, the physical market is awash with oil," it said, referring to the Organization of the Petroleum Exporting Countries and non-OPEC partners.

And AxiCorp's Stephen Innes added: "It's a dump at all cost as no one... wants delivery of oil, with Cushing storage facilities filling by the minute.

"It hasn't taken long for the market to recognise that the OPEC+ deal will not, in its present form, be enough to balance oil markets." Stock traders were in slightly more buoyant mood as governments start to consider how and when to ease lockdowns that have crippled the global economy.

Italy, Spain, France and Britain reported drops in daily death tolls and slowing infection rates.

"We are scoring points against the epidemic," said Prime Minister Edouard Philippe, while insisting "we are not out of the health crisis yet".

Meanwhile, in the US, Andrew Cuomo, governor of badly hit New York state, said the disease was "on the descent", though he cautioned it was "no time to get cocky".

Mounting evidence suggests that the lockdowns and social distancing are slowing the spread of the virus.

That has intensified planning in many countries to begin loosening curbs on movement and easing the crushing pressure on national economies.

Adding to the sense of hope was a report indicating promising research on a drug to treat coronavirus.

Hong Kong, Shanghai and Seoul were each up 0.1 percent, while Wellington added 0.4 percent.

However, Tokyo went into the break 0.9 percent lower, while Sydney and Manila dropped one percent apiece. There were also losses in Taipei, Singapore and Jakarta.

"The longer investors have to contemplate future economic issues while they wait for more countries to be on the downward slope of the pandemic curve, the more scope there is of risk assets pricing in a difficult future," Chris Iggo, of AXA Investment Managers UK, said.

Investors are keeping an eye on Washington, where Congress and the White House are working towards a 450 billion economic relief plan for small business to add to the trillions already pledged to support the economy.

Big-name companies including IBM, Netflix and Coca-Cola are due to deliver their earnings reports.

Jun 9: The World Health Organization says it still believes the spread of the coronavirus from people without symptoms is “rare,” despite warnings from numerous experts worldwide that such transmission is more frequent and likely explains why the pandemic has been so hard to contain.

Maria Van Kerkhove, WHO''s technical lead on COVID-19 said at a press briefing on Monday that many countries are reporting cases of spread from people who are asymptomatic, or those with no clinical symptoms.

But when questioned in more detail about these cases, Van Kerkhove said many of them turn out to have mild disease, or unusual symptoms.

Although health officials in countries including Britain, the U.S. and elsewhere have warned that COVID-19 is spreading from people without symptoms, WHO has maintained that this type of spread is not a driver of the pandemic and is probably accounts for about 6 per cent of spread, at most.

Numerous studies have suggested that the virus is spreading from people without symptoms, but many of those are either anecdotal reports or based on modeling.

Van Kerkhove said that based on data from countries, when people with no symptoms of COVID-19 are tracked over a long period to see if they spread the disease, there are very few cases of spread.

“We are constantly looking at this data and we''re trying to get more information from countries to truly answer this question,” she said. “It still appears to be rare that asymptomatic individuals actually transmit onward.”

New Delhi, Jun 1: Actor Kendrick Sampson, who stars in HBO series Insecure, was struck by rubber bullets as Los Angeles police officers tried to disperse a crowd protesting George Floyd”s death in Minneapolis.

Floyd, a black man, died last Monday in Minneapolis, Minnesota after a white police officer pressed his knee on his neck for more than eight minutes. The officer was arrested on Friday and charged with third-degree murder.

The actor went live via Instagram on Saturday to show his view of events, but he could be also be seen on a CNN broadcast simultaneously, with viewers watching him get hit by a police baton on TV.

Sampson posted several videos on his page of a large demonstration at Pan Pacific Park near the city”s Fairfax District, where violent clashes took place throughout the day outside the Grove shopping center.

In one video, LAPD officers can be seen firing rubber bullets to try and regain control at the park.

“They shot me four times already. I already got hurt and I got hit with a baton,” Sampson said in the video on Instagram.

Another clip showed him moving away from the police, as he appeared to be hit by an officer”s baton.

“Y”all ain”t see no police f*****g up white folks when they took guns to the statehouse,” he said, referring to an incident in Michigan over coronavirus restrictions, not in California. “Y”all didn”t see police attacking white folks, beating em up with batons, shooting them with rubber bullets when they brought guns to f*****g state houses. We came up here with no weapons, with masks.… And we”re the ones who are not peaceful,” Sampson alleged.

Protests turned violent over Floyd”s death and other police killings of black people spread Saturday in dozens of US cities, with police cars set ablaze, reports of injuries mounting on all sides, shops and showrooms vandalised amid the lockdown.