Udupi: Pejawar seer returns to Mutt after surgery; 3 months rest

Bengaluru, Jun 20: Continuing with the easing of restrictions under 'Unlock 1.0', the Karnataka government on Saturday authorised local bodies to fix timing for opening of public parks other than those in the containment zones between 5 am to 9 pm.

It has also mandated adhering to all the national directives issued to contain the spread of COVID-19 and the guidelines issued by the state government in this connection.

Noting that the government has been relaxing conditions under unlock 1.0, Principal Secretary Revenue N Manjunath Prasad, who is also the member secretary of the state disaster management authority in an order said, local bodies have been asked to set the timing between 5 am to 9 pm to open all parks that come under them and the government.

It said this would be applicable to only those parks that come outside the containment zones. Earlier in May, while relaxing the lockdown norms, the government had set 7 am to 9 am and from 5 pm to 7 pm for the opening of parks.

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.

Mangaluru, May 6: A day after a wild bison dies lost its life hours after being tranquilized in Mangaluru, another wild bison appeared in the Ashok Nagar area of the coastal city today.

In fact, two bison were spotted in Mangaluru yesterday. The two were reportedly wandering together early in the morning. Later one was spotted in Mannagudda and the other in Hathill area.

While one of them was tranquillized by an official of a Pilikula Biological Park and captured, another bison had gone missing.

The captured animal, however, died later in the day due to cardiac arrest.

According to official, it is common for herbivores, which are sedated to ensure their safe capture, to suffer cardiac arrest.

Meanwhile, Forest department officials have launched an operation to capture the second bison. It is believed that it is the same bison which went missing yesterday.

Also Read: Wild bison intrudes into Mangaluru city amidst lockdown; captured