US oil prices dived to 34-year lows at USD 10 on Monday after crashing more than 45 per cent in a market flooded with crude as demand evaporates in the face of the coronavirus pandemic.
The US benchmark West Texas Intermediate (WTI) crude for May delivery sank to USD 10.01 per barrel, its lowest level since 1986.
The steep decline was driven by investors closing out their positions ahead of the May contract expiry on Tuesday. Investors left holding the contracts will have to take physical delivery of the contracts as storage is quickly becoming an issue.
The drop on the WTI June contract was less severe -- 8.8 per cent to USD 22.82.
"The real problem of the global supply-demand imbalance has started to really manifest itself in prices," said Rystad Energy analyst Bjornar Tonhaugen.
The European benchmark contract, London Brent North Sea oil for June delivery, was down 6.3 per cent at USD 26.30 per barrel.
"As production continues relatively unscathed, storage is filling up by the day. 

Oil collapses to USD 10 as world awash with crude

PTI Automatic

Italy on Monday reported its first drop in the number of people currently suffering from the novel coronavirus since it recorded its first infection in February.
The civil protection service said 108,237 people were either being treated in hospital or were recovering at home after testing positive -- down 20 from the total reported on Sunday.

Italy says current virus cases fall for the first time

A nine-year-old who contracted COVID-19 in eastern France did not pass the virus on to any other pupils at three ski-schools, according to new research that suggests infants are not large spreaders of the disease.
The child was infected in France's Haute-Savoie region in one of the first coronavirus clusters in the country, which saw 12 people catch the disease after a British man returned from Singapore and went on a ski holiday.
A study published this month in the US journal Clinical Infectious Diseases looked at the case of the child, who continued to attend three ski clubs while unknowingly infected.
Through rapid intervention by health authorities, it was ascertained that the child, who only displayed mild symptoms, came into contact with 172 people while sick.
All of those were placed in quarantine as a precaution, but none of them contracted COVID-19, not even the child's two siblings.
By contrast, 64 percent of those contacts tested positive for other seasonal illnesses such ..

French case raises questions over coronavirus child spread

- Scotland's First Minister Nicola Sturgeon believes a return of football even behind closed doors risks boosting the spread of coronavirus as fans could congregate to watch games.
Matches across Britain have been suspended indefinitely because of the virus.  Strict measures regarding social distancing and mass gatherings mean it will likely be months before sports venues can reopen to full capacity.
It has been hoped that matches can resume behind closed doors before then to fulfil broadcasting contracts and keep clubs afloat.  But Sturgeon is wary of crowds gathering to watch games together or close to stadiums where matches are being played.
"We have to consider if that completely takes away the risk," said the Scottish National Party leader. "If a match is still on TV, the danger is people will congregate together to watch.
"What I will say is they will be very carefully considered and we'll share as much of that as we can." Scotland's lower-league seasons have already been ...

Scottish First Minister wary of football behind closed doors

Chancellor Angela Merkel urged discipline in the fight against the coronavirus pandemic, warning that Germany is not "out of the woods" even as the country took small steps in easing curbs imposed to slow contagion.
With small shops opening on Monday for the first time in a month, Merkel said the authorities can only allow such small cautious steps each time to avoid a devastating relapse.
"We must not lose sight of the fact that we stand at the beginning of the pandemic and are still a long way from being out of the woods," she told journalists after chairing a cabinet session on the coronavirus battle.
It would be a "crying shame if we were to stumble into a relapse with our eyes wide open," she added.
Merkel and regional state premiers announced the decision to reopen last week -- but were careful to cast it as a cautious first step.
From florists to fashion stores, the majority of shops smaller than 800 square metres (8,600 square feet) were allowed to welcome customers again in ..

Merkel issues stark warning as Germany begins opening up

Peter Beard, the influential photographer renowned for his wildlife shots, was found dead after going missing several weeks ago. He was 82 years old.
"We are all heartbroken by the confirmation of our beloved Peter's death," his family said in a statement.
Beard, who was suffering from dementia, went missing on March 31.
A hunter found his remains over the weekend in a remote wooded area of a state park in Long Island, east of New York City, local police said.
Police were called to the site in Camp Hero State Park in Montauk, on the tip of Long Island, and the deceased's clothing was found to match those Beard had worn.
Known for his death-defying images of African fauna, Beard's text and photo book "The End of the Game," first published in 1965, captured the destruction of a continent long seen by colonialists as a treasure chest.
A man as wild as his photographs, Beard had a brush with death when he was trampled by an elephant in the 1990s and was known to rope rhinoceroses.
"Peter .

Wildlife photographer Peter Beard dead at 82

Lewis Hamilton has hailed Mercedes as his "dream team" as the world champion made it clear he has no plans to leave when his contract expires after the 2020 season.
The British driver was linked with a move to Ferrari after the six-time world title winner revealed in January he had yet to open talks over a new deal with Mercedes.
Ferrari chief executive officer Louis Carey Camilleri said in December that he was "flattered" that Hamilton had agreed to discuss his future in conversations with the team's chairman John Elkann.
But the 35-year-old appeared to end talk of a switch on Monday when he said his future remains with British-based Mercedes.
"There is no dream of another team. I am with my dream team," Hamilton said on Instagram.
"There's not a thing in my way, as I'm not trying to move. I'm with the people who have cared from day one."
Hamilton, who added that Mercedes were "the best team", will have been aware that any opportunity to join Ferrari would be quashed if reports that .

Hamilton ready to stick with Mercedes 'dream team'

Hundreds of people defied social distancing recommendations in Russia's Northern Caucasus Monday to protest against coronavirus restrictions and economic hardship, in one of the first major lockdown protests in the country.
Protesters -- including some who have lost their jobs during the lockdown -- gathered in Vladikavkaz, the capital of North Ossetia in Russia's turbulent North Caucasus region.
Many called for the resignation of local governor Vyacheslav Bitarov.
"Resign! Resign!" the crowd chanted, in footage posted on social media.  "Companies have been closed, and people have lost their source of income," one protester, Indira Gabolayeva, told AFP.
"They don't know how to go on living. They fear hunger more than some infection," she added.
Gabolayeva said the lockdown had exacerbated existing social and economic problems, including the weakening of the ruble due to low oil prices.
Most of the protesters wore no face masks and ignored social distancing recommendations.
Gabolayeva .

Hundreds protest virus lockdown in Russia's Northern Caucasus

Small shops in Serbia will be allowed to reopen, officials said on Monday, as it joins a growing number of European countries relaxing coronavirus restrictions that have battered the economy.
Car mechanics, shoemakers, dry cleaners, bookshops and other services will be able to resume work from Tuesday, the government said in a statement.
Yet shopping malls and other workspaces that involve large gatherings or close contact -- such as hair salons and gyms --  will remain shut.
Employers are "obliged to provide workers with protective equipment (masks, gloves and disinfectants) and work must be done by respecting social distancing", the government said, adding it may adjust the measures based on how the health situation evolves.
People over the age of 65 will also be permitted to leave home for the first time in weeks, for half-hour walks three days a week, the announcement said.
The novel coronavirus has killed some 125 people and infected at least 6,600 in the Balkan state of around ..

Small shops to reopen as Serbia relaxes virus rules

West Texas Intermediate oil on Monday plunged to the lowest level since 1986 at USD 10.34 per barrel as the coronavirus pandemic slashes demand, leaving the world awash with crude.
Around 1500 GMT, WTI pulled back to USD 10.82 per barrel but was still down almost 41 per cent compared with Friday. The fall is severe as it concerns the May contract due to expire later Monday and investors don't want to take physical possession of the oil, traders said.

WTI oil slumps to lowest since 1986 at USD 10.34 a barrel

Football fans in Denmark are banned from attending matches due to restrictions over the new coronavirus, but top division club Midtjylland has come up with a solution inspired by classic drive-in theatres.
Sporting and cultural events are one of the pleasures that Danes, like many Europeans, have had to give up as restrictions aimed at curbing the spread of COVID-19 have been introduced.
The Danish league is currently suspended until further notice but Midtjylland has already invited fans to enjoy matches, once they resume, from the parking lot outside the stadium.
Sitting in parked cars, fans will be able to follow the action inside on giant screens, while adhering to social distancing restrictions.
"At first, we'll have a capacity of 2,000 cars with up to five fans in each," Mads Hviid Jakobsen, spokesman for the 2018 Danish league champions, told AFP.
The announcement has already been praised by fans.
"I'm proud of my club," said one Facebook user, while another was delighted that .

Danish football club offers drive-in viewing for match

Germany confirmed Monday it aims to replace its ageing fleet of Tornado fighter-bombers with aircraft from both European manufacturer Airbus and US-based Boeing.
Berlin is eager to balance European and American alliances via its military aircraft-buying scheme, but the decision to move ahead with the US purchases has angered some politicians who allege a lack of transparency.
An official decision on the procurement plan will be sent to parliament's defence committee "in the coming days," defence ministry spokesman Arne Collatz-Johannsen told reporters in Berlin.
"Fewer than a third" of the new aircraft would be American models, with the majority made up of European products, he added.
A source close to the plans confirmed German media reports that the defence ministry prefers to hedge its bets between EU and US suppliers, by purchasing around 90 Airbus-made Eurofighters and 45 Boeing F-18 jets.
A solution balancing allies on both sides of the Atlantic is seen by the conservative-led ..

Germany to buy Airbus and Boeing fighter jets

More than 130 refugees housed in a youth hostel in Portugal's capital Lisbon have been infected by the new coronavirus and placed in quarantine, the mayor's office said on Monday.
Portugal has granted immigrants awaiting regularisation of their papers and asylum seekers the same rights as residents, in particular access to medical care during a state of emergency decreed last month to curb the coronavirus pandemic.
Out of a total of some 180 tenants, 138 tested positive and they were relocated and placed in quarantine, the municipality said.
The hostel was evacuated on Sunday after the case of a man who had been hospitalised was reported, Lisbon deputy mayor Carlos Costa told reporters.
According to local media, the refugees are all men who have applied for asylum in Portugal.
"They are young people from Egypt, Ivory Coast and other regions of the world," Mohamed Abed, an official at a Lisbon mosque, told RTP public television.
The establishment located in central Lisbon has been ...

Scores of refugees test positive for virus in Lisbon shelter

German Chancellor Angela Merkel on Monday urged China to be as transparent as possible about the coronavirus outbreak, as debate swirls about how the deadly pandemic started.
"I believe the more transparent China is about the origin story of the virus, the better it is for everyone in the world in order to learn from it," she told reporters in Berlin.

The more transparent China is on virus, 'the better for all': Merkel

Lothar Matthaeus says he is puzzled by reports of stalled contract extension talks between Germany captain Manuel Neuer and Bayern Munich.
"It seems out of place for me that Manuel Neuer is not appreciated at FC Bayern," former Germany and Bayern captain Matthaeus told Sky Sport News.
The 59-year-old former midfielder advised his old club to "sit down at the same table" for clear-the-air talks with the disgruntled Neuer.
"It's a matter of 10 minutes. I don't understand it," said Matthaeus.
Neuer's current deal expires in 2021 and if the talks fail, the Germany captain could attract strong interest from Premier League clubs.
Neuer, 34, gave an explosive interview to Bild at the weekend admitting he was "irritated" about the leaked details of the extension talks.
"Details about the current talks are constantly appearing in the media," fumed Neuer.
"That irritates me. It's not something I am used to at Bayern." Since joining from Schalke in 2011, Neuer has made 373 appearances and kept ..

Neuer's stalled contract talks at Bayern Munich baffle Matthaeus

- Snooker referee Olivier Marteel has swapped the green baize for a frontline role in the fight against coronavirus in his native Belgium.
Marteel, who refereed the World Championship final in 2015, would have been at the Crucible in Sheffield to officiate in this year's tournament had it not been postponed but instead he is working as a nurse in Veurne.
The 50-year-old normally works in the radiology department but was asked to work in his hospital's emergency department during the COVID-19 crisis.
His job is to triage patients, assessing them to decide whether they need to be tested for the disease or to see a doctor.
Marteel said the volume of patients and a lack of personal protective equipment meant he had to be creative in an attempt to keep himself safe.
"I have never worked in an A&E (accident and emergency) situation like this before," he said on World Snooker's official website.
"When I was asked to take on this role, I didn't even have one second of doubt. Ever since I ...

Snooker ref on virus frontline in Belgium

Chancellor Angela Merkel on Monday urged Germans to stay disciplined in fighting the coronavirus pandemic as the country began easing some curbs, warning that there was a long way to go before claiming victory.
"We stand at the beginning of the pandemic and are still a long way from being out of the woods," she told journalists, saying that it would be a "crying shame if we were to stumble into a relapse with our eyes wide open".

Germany not out of woods on coronavirus, says Merkel

Iran's Foreign Minister Mohammad Javad Zarif met Syrian President Bashar al-Assad in Damascus on Monday to discuss regional developments in light of the novel coronavirus.
On his first official meeting with Zarif in a year, Assad expressed condolences to Iran, the regional epicentre of the coronavirus pandemic with 5,209 deaths from COVID-19.
The Islamic republic says it has recorded 83,505 infections, while Syria has declared 39 cases, including three deaths.
Assad criticised the United States for keeping economic sanctions in place on countries like Syria and Iran "despite these exceptional humanitarian conditions", the Syrian presidency said in a statement.
A photo released by the presidency showed the visiting foreign minister and Syrian president sitting opposite each other, both in face masks. Zarif also wore light blue plastic gloves.
Assad condemned "ongoing encroachments by Turkey on the sovereignty and territory of Syria," in the country's north where Ankara has deployed ...

Iran foreign minister meets Syria's Assad in Damascus

Police fought running battles in two of Paris' northern suburbs overnight on Sunday, with residents accusing officers of using heavy-handed tactics to enforce France's strict coronavirus lockdown.
Residents burnt cars and shot fireworks at police, who responded with rubber bullets and tear gas in the suburbs of Villeneuve-la-Garenne and Aulnay-sous-Bois, witnesses and police said on Monday.
The violence began on Saturday when a motorcyclist was injured during a police check in Villeneuve-la-Garenne, prompting a crowd to gather.  A police statement said the group targeted officers with "projectiles" in a near two-hour standoff.
The motorcyclist crashed into the open door of a police car, suffering a broken leg and undergoing surgery.  Residents allege the door was opened deliberately so that the rider would smash into it.
The 30-year-old will lodge a complaint against the officers, his family and a lawyer told AFP, while prosecutors have opened an investigation.
By Monday morning, calm 

Police clash with residents in locked-down Paris suburbs

British and EU officials were scheduled to restart Brexit trade talks Monday after a break because of the coronavirus, which is making an end-of-year deal look even more unlikely.
After a first round in early March negotiations were suspended for six weeks as officials focused on the deadly virus sweeping Europe.  The June deadline set by London to assess the chances of an agreement is now fast approaching.
The novel coronavirus has affected officials directly, hitting both EU chief negotiator Michel Barnier and his British counterpart David Frost -- and then, dramatically, putting Prime Minister Boris Johnson in intensive care.
Despite the ticking clock and the extra pressure brought by the worst global pandemic in living memory, Johnson's government rules out extending Britain's transition period to negotiate a future relationship with the EU.
Britain left the EU on January 31 but remains tied to it until the end of December.  Fears are growing that no deal will be reached, meaning .

Brexit talks resume under coronavirus cloud

German FA chief Fritz Keller has insisted the Bundesliga could only resume next month behind closed doors, while supporters have questioned the morality of football returning at all during the coronavirus pandemic.
The German Football League (DFL) hopes to get the go-ahead from Angela Merkel's government for the top two tiers to resume next month -- possibly on May 9 or 16.
There are hopes a decision will be made Thursday after the 36 clubs in the first and second divisions meet via video call.
German football was halted on March 13 to help reduce the spread of the coronavirus in Germany, which currently has 141,672 confirmed cases and 4,404 deaths as a result of the pandemic.
"This week, important decisions will be made on how to proceed," Keller told Kicker.
With large public events banned in Germany until August 31, the only viable option for league action to resume next month would be in empty grounds -- dubbed 'ghost games' in German.
"We are very much aware that football without 

AFP

AFP

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