Seizure of fake voter IDs: BJP, JDS demand postponement of polls in RR Nagar; Cong suspects BJP’s hand

Kasaragod, May 25: An autorickshaw driver from Belur in Kasaragod was admitted for surgery to a hospital after being hit on the head by a falling jackfruit. He was tested positive for the coronavirus. It is not clear how he contracted the viral infection.

“While he was trying to pluck a jackfruit off a tree, one of them fell on him, injuring his spine. His hands and legs were weakened too. His condition required surgery. Our protocol dictates that we subject everyone who require immediate surgery to the covid test, just to be sure. That’s when he tested positive,” said Dr K Sudeep, superintendent of the Pariyaram Medical College in Kannur.

“He had symptoms of Covid-19. But he has no recent travel history or contact with any infected person. We’re not sure if he got it through one of his passengers in the rickshaw. He had visited the district hospital once so he could have got it from there. Anyway, we are examining it and preparing the route maps,” he added.

His family will be quarantined and health workers have begun to trace his immediate primary contacts.

Though there have been a number of cases in Kerala where a person’s source of infection could not be correctly ascertained, such people have gone on to recover without spreading the infection to others.

The Kerala government is conducting testing of high-risk persons on the frontlines, such as police officials, grocery vendors and health workers, as part of its sentinel surveillance programme, but maintains that there’s little evidence of a community spread in the state.

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.