With much of the global economy suspended due to the coronavirus , physical demand for crude has dried up, creating a global supply glut as billions of people stay home. Ms. Forrest looked at the price as a signal to the market that storage is filling, and expects more companies to move on cutting production even further.
President Trump interjected to question the COVID-19 statistics released by Iran and China . Trump said he was surprised that Gov. Ralph Northam hasn't received more resistance to those measures. "I think we do have sobering guidance, but I think in some of the states it's too tough", he said. "They put out the guidelines, the day after that, he says, hey, we need to remove the guidelines in effect in those places".
The FTSE100 gained more than 3% - or 191 points - to 5819 in early trading on Friday, while Wall Street is expected to open higher on the back of hopes for the drug, first developed as a treatment for the Ebola virus . Gilead declined to provide further information about the Chicago findings. Another group of researchers published early data from Gilead's compassionate use program in the April 10 issue of The New England Journal of Medicine .
The US Energy Information Administration (EIA) reported that US crude stock jumped by 19.2 million barrels for the ended April 10. Riyadh, kingpin of exporting group OPEC, and non-OPEC member Moscow ended their dispute last weekend when they led a group of top producers in striking a deal to cut output by almost 10 million barrels a day to boost battered markets.
In a video message, Das said in order to encourage banks to deploy the surplus funds in investments and loans in productive sectors of the economy, it has been made a decision to reduce the fixed rate reverse repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 4 per cent to 3.75 per cent with immediate effect.
Two patients died but most of the rest have already been discharged after their symptoms eased significantly. And what comes next with clinical trials of remdesivir? So, in that realm, overall our patients have done very well. Stock for Gilead Sciences shot up more than 10 percent shortly after the report was published. There are no treatments that have yet been shown to be safe and effective for the virus.