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South Korea reports 161 new cases of coronavirus, brings total to 763

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SEOUL (Reuters) – South Korea reported 161 new cases of the coronavirus, bringing the total number of infected patients in the country to 763, health authorities said on Monday, a day after the government raised its infectious disease alert to its highest level.

Of the new cases, 115 were linked to a church in the southeastern city of Daegu after a 61-year-old woman known as “Patient 31” who attended services there tested positive, according to the Centres for Disease Control and Prevention (KCDC).

KCDC also reported the seventh death from the virus, a 62-year-old man from a hospital in Cheongdo, a county that saw surges in confirmed cases along with nearby Daegu in recent weeks.

Authorities are still investigating the exact cause of the new outbreak, with Patient 31 having no recent record of overseas travel.

South Korea imposed its highest infectious disease alert on Sunday, vowing extra resources to the region and limiting public activities.

Reporting by Hyonhee Shin; Editing by Himani Sarkar

Our Standards:The Thomson Reuters Trust Principles.



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Oil market shock to spill over into global supply chains – IEA

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(Reuters) – The global crisis caused by the coronavirus pandemic will be felt throughout oil’s global supply chains and ripple into other parts of the energy sector, the International Energy Agency (IEA) said in a report bit.ly/39BUOdA on Wednesday.

FILE PHOTO: A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo

Oil prices crumbled as the pandemic slashed global fuel consumption, with further pressure from a supply shock due to the end of production cuts from OPEC producers and Russia.

Crude oil prices ended a volatile quarter with their biggest losses in history, and declined about 55% in March, the most on record. Prices also plunged to their lowest level since 2002 on Monday. [O/R]

About 5 million barrels of oil extracted worldwide every day are not attracting high enough premiums to offset the costs of extracting it out of the field, according to the Paris-based IEA agency.

Prices available to producers in Western Canada have dropped to single digits, and instances of negative prices have also emerged in parts of North America for other grades, IEA said in the report.

Oil producers have responded by implementing major reductions to their spending on new production, with the initial cuts in the 20%-35% range relative to what was previously planned for 2020, the report said.

IEA had earlier estimated 50%-85% drops in net income for selected producer countries in 2020, compared with 2019, but these declines could be even greater depending on the extent of demand shock.

Many oil majors will re-evaluate their existing portfolios, possibly leading to another wave of refinery closures.

The agency also warned against the implications of oil price collapse on other energy sectors, adding a sustained period of low oil prices would affect the prospects for clean energy transitions such as natural gas.

“Oil at $25 a barrel would leave some international gas suppliers struggling to cover their operating costs, and the depressed spot market for gas would not provide any relief.”

Reporting by Diptendu Lahiri in Bengaluru; Editing by Lisa Shumaker

Our Standards:The Thomson Reuters Trust Principles.



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Scott Martin Interviewed on Fox Business News – Your World with Cavuto 3.31.20

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Coronavirus Latest Updates in India State Wise | Coronavirus LIVE Updates | Latest Coronavirus News in India State Wise | Covid 19 India Tracker

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Coronavirus Latest Updates in India State-Wise, Covid-19 Latest Updates in India State-Wise, Nizamuddin Markaz, Nizamuddin Markaz coronavirus cases, jamat, jamaat, tabhligi jamaat, Covid-19 cases in india State-Wise, covid 10 symptoms, covid 19 hotspots in indiaEfforts were on to find 2000, including foreign nationals, in several states including Telangana, Gujarat and Tamil Nadu. (Courtesy: PTI Image)

Coronavirus (Covid-19) News in India: The number of Coronavirus positive cases is nearing the 2000-mark in India as a nationwide hunt has been launched to detect thousands of people who had attended the Tablighi Jamaat event in Delhi’s Nizamuddin. Authorities across states have already identified 5000 persons and sent them for quarantine. Efforts were on to find 2000, including foreign nationals, in several states including Telangana, Gujarat and Tamil Nadu.

According to the latest data revealed by the Union Health Ministry, total confirmed cases are 1,834 and the number of deaths is 41 in India. In the last 24 hours, 437 new COVID-19 positive cases have emerged. However, figures announced by the state governments and union territories showed the total cases are 1,949. The number of deaths is 59, as per information provided by states and union territories’.

The Ministry officials have cited that cases have risen largely due to the Tablighi Jamaat event in Delhi’s Nizamuddin. The congregation took place in mid-March. The central government official said that technically the figure does not show a national trend. The central government has urged people to follow guidelines during the COVID-19 lockdown period by not violating rules, avoiding congregations, including religious meetings.

Financial Express brings to you the latest updates on coronavirus. Stay tuned.



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