Trump set to clamp down on H-1B visas

Singapore, May 6: Oil prices slipped back Wednesday after two days of gains, although Brent crude remained above $30 a barrel, as renewed US-China tensions offset optimism about the easing of coronavirus lockdowns.

Brent, the international benchmark, fell 1.1 per cent to $30.63 a barrel in early Asian trade. On Tuesday, the contract surged 14 per cent and rose above $30 for the first time since mid-April.

US marker West Texas Intermediate slipped 1.9 per cent and was changing hands for $24.13 a barrel.

Oil markets have been battered as the virus strangled demand due to business closures and travel restrictions, with US crude falling into negative territory last month for the first time.

They started rallying strongly this week as countries from Europe to Asia ease curbs and economies start shuddering back to life.

But gains were capped Wednesday as dealers follow a brewing US-China row after Donald Trump hit out at Beijing over its handling of the outbreak, saying it began in a Wuhan lab, but so far offering no evidence.

"Traders are incredibly cautious this morning, weighing all the possible China responses," said Stephen Innes, chief global market strategist at AxiCorp.

"And the one that would hurt the most would be for China to reduce imports of US oil."

This week's rally was in part driven by a deal agreed between top producers to reduce output by almost 10 million barrels a day, which came into effect on May 1.

There have also been signs that the massive oversupply in the market is starting to ease as demand slowly comes back.

Energy data provider Genscape said earlier this week that stockpiles at the main US oil depot in Cushing, Oklahoma had increased by only 1.8 million barrels last week following weeks of major rises.

Islamabad, May 13 : The number of confirmed COVID-19 cases in Pakistan rose to 34,370 on Wednesday after new infections were confirmed in the country.

As per province-wise breakup of the total tally cited by Radio Pakistan, so far 13,225 cases have been registered in Punjab, 12,610 in Sindh, 5,021 in Khyber Pakhtunkhwa, 2,158 in Balochistan, 759 in Islamabad, 475 in Gilgit Baltistan and 88 in Pakistan-occupied Kashmir.

As many as 2,255 cases positive were confirmed, while 31 deaths reported during the last 24 hours.

At least 737 patients have died so far while 8,812 stand recovered, the media reported further.

Beijing, Jan 25: The death toll due to the novel coronavirus (2019-nCoV) outbreak in China has soared to 41, while the number of infected persons were 1,287, the National Health Commission said on Saturday.

The Commission said that 444 fresh cases were reported since Friday, with 237 patients in serious conditions, while 38 had been cured and discharged from hospitals, reports Efe news.

Health authorities have carried out check-ups on 15,197 people who have come into close contact with the infected persons. Nearly 14,000 of them continue to be monitored for symptoms.

The others cases outside of China were reported in France (two), Australia (one), Thailand (four including two cured), Japan (two including one cured), South Korea (two), the US (two), Vietnam (two), Singapore (three), Nepal (one), Hong Kong (five), Macao (two) and Taiwan (three).

The symptoms of the new coronavirus, provisionally designated by the World Health Organization as 2019-nCoV, are similar to those of cold but may be accompanied by fever and fatigue, dry cough and dyspnea (shortness of breath).

The WHO has so far to declared the outbreak as an international health emergency.

Strict measures were being carried out in China, which include complete suspension of transport in around a dozen cities in Hubei province and also cancelling Chinese New Year celebrations.

Traditional events at Lama Temple and Ditan Park in Beijing were cancelled due to the risk of spreading the virus, authorities reported Friday, while the famous Forbidden City has also been closed indefinitely.

Wuhan, the capital of Hubei, where the virus was first reported, has been on lockdown since Thursday to prevent further spread of the virus and the city's authorities have begun to build a "special hospital" with 1,000 beds for infected patients.

"Construction of the special hospital with a capacity of 1,000 beds for patients with #nCoV2019 has begun in Wuhan," official China Daily said on Twitter.

The hospital in Wuhan will be based on the model of a similar facility that was built in just seven days in Beijing to deal with SARS in 2003.