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Page added on January 24, 2020
Alarm Over Virus Pushing Down Oil
Oil extended declines from the lowest close in seven weeks on speculation China’s coronavirus outbreak may dent demand as the market tackles a glut of global crude supplies.
Futures lost 1.7% in New York as Chinese officials halted travel from Wuhan, the city at the epicenter of the outbreak. U.S. industry data signaled American crude stockpiles expanded further after Goldman Sachs Group Inc. warned that the virus may lead to a hit to oil demand. Concerns over the virus also weighed on broader market sentiment with Asian stocks declining.
Oil is bearing the brunt of the anxiety due to the potential hit to travel, especially as it’s happening just before the Lunar New Year holidays, the biggest human migration in the world. The International Energy Agency says the world is “awash with oil,” while Goldman predicts the virus may crimp global demand by 260,000 barrels a day this year, with jet fuel accounting for around two-thirds of the loss, if the SARS epidemic in 2003 is any guide.
“The fear of a coronavirus pandemic depressing oil demand by curbing travel and trade is a real one,” said Vandana Hari, founder of industry consultant Vanda Insights in Singapore. Until there is word from the World Health Organization on whether to declare the outbreak an international emergency, “cautious selling will likely prevail,” she said.
West Texas Intermediate futures for March delivery fell 99 cents to $55.75 a barrel on the New York Mercantile Exchange as of 7:27 a.m. in London after dropping as much as 2.1% earlier. The contract lost 2.8% on Wednesday. Brent futures declined by 91 cents, or 1.4%, to $62.30.
China banned travel from Wuhan, a city of 11 million, in efforts to stop the spread of the new SARS-like virus that has claimed at least 17 lives so far and infected hundreds. The WHO delayed a decision on whether to declare the outbreak a public health emergency of international concern. The country is the biggest importer of oil, by far.
An emergency declaration for the Wuhan virus case could include recommendations to restrict travel or trade, a move that could cripple economic activity and crimp oil demand. In 2019, Chinese travelers made nearly 3 billion trips during the 40-day spring travel period, roughly comparable to 25 consecutive Thanksgiving travel nightmares.
The American Petroleum Institute reported a 1.57-million barrel increase in U.S. crude inventories last week, according to people familiar with the figures. Official government data on Thursday is forecast to show supplies rose by 800,000 barrels, according to a Bloomberg survey.
96 Comments on "Alarm Over Virus Pushing Down Oil"
Cloggie on Fri, 24th Jan 2020 10:59 am
“Coronavirus ‘will infect 350,000 people in Wuhan ALONE’: Scientists dramatically increase estimate as China locks down FOURTEEN cities and races to build 1,000-bed hospital in FIVE DAYS to deal with the crisis”
https://www.dailymail.co.uk/health/article-7923913/Shanghai-Disney-closed-Saturday-help-prevent-spread-virus.html
Pandemonium is there.
Lesson to be learned: do not eat bats, dogs, cats.
https://www.theguardian.com/science/2020/jan/24/coronavirus-chinese-hospitals-in-chaos-as-lockdown-spreads-to-affect-25m-people
“Coronavirus: Chinese hospitals in chaos as lockdown spreads to affect 36m people”
ANAL REAPER on Fri, 24th Jan 2020 12:45 pm
FUCK all you faggots.
Go get raped you fucking chinks.
Death to all non whites
ANAL REAPER on Fri, 24th Jan 2020 12:46 pm
Oh..and FUCK YOU Cloggie.
Faggot.
Cloggie on Fri, 24th Jan 2020 1:20 pm
How sad. empire dave has nothing left but ad-homs like the one above. What happened to our special relationship?
ANAL REAPER on Fri, 24th Jan 2020 3:21 pm
i pledge my support…
world muzie bag day 7 days away on feb1st
world grater nedertardland day 45 days away
I AM THE MOB on Fri, 24th Jan 2020 4:39 pm
Russian scientist accuse US for deadly coronavirus
“According to Nikulin, the new virus in China “could be a malicious act by the United States to put pressure on the Chinese, while also increasing the turnover of private US drug makers.”
makati1 on Fri, 24th Jan 2020 5:20 pm
The shrinking demand for oil is due to the shrinking ability of its consumers to be able to afford to buy and consume it, not some virus.
PO is turning into an oily version of ZH. At least ZH has some intelligent articles from other websites. PO, not so much. RIGPORN vs THE SAKER, for instance. LOL
Davy on Fri, 24th Jan 2020 5:21 pm
“Russian scientist accuse US for deadly coronavirus”
how about a link or its fake news
makati1 on Fri, 24th Jan 2020 5:25 pm
MOB, all new virus’ could possibly be traced back to US drug firms and their world wide labs. It would not surprise me if AIDS was their product and the current different virus’ from China also.
The are Trillion$ to be made in sickness and death (war). Ask the US military industrial complex. Biological warfare? Hmm!
Davy on Fri, 24th Jan 2020 5:29 pm
“UK Researcher Predicts Over 250,000 Chinese Will Have Coronavirus In Ten Days”
https://tinyurl.com/s33rvwz zero hedge
“So what about the R0 of 2019-nCoV, also known as the coronavirus that has claimed over three dozen lives in China and infected (at least) 1,000 people? Naturally, since the disease is most active in China which is notoriously opaque especially when it comes to matters that can cause a mass panic, the best one can do is guess, and that’s what the World Health Organization did yesterday when it issued a statement on the coronavirus epidemic with the following projection: Human-to-human transmission is occurring and a preliminary R0 estimate of 1.4-2.5 was presented. Amplification has occurred in one health care facility. Of confirmed cases, 25% are reported to be severe. The source is still unknown (most likely an animal reservoir) and the extent of human-to-human transmission is still not clear. Needless to say, while 2.5 is quite high, and in line with that of the Spanish flu epidemic which infected about half a billion people back in 1918, killing as many as 100 million before it eventually fizzled out, the real coronavirus R0 number may end up being far higher. That is the working hypothesis of Jonathan Read, a UK expert on the transmission and evolutionary dynamics of infectious diseases, who has published a paper with four colleagues that estimates transmission parameters for the Wuhan coronavirus, calculates that the R0 of 2019-nCoV to be between 3.6-4.0 or roughly the same as SARS, and reaches a conclusion about spread of the coronavirus epidemic that is frankly terrifying…Finally, while Reed makes no observations on the potential mortality associated with nCoV, one can make a broad observation: late on Friday, China’s Hubei province reported 15 additional coronavirus deaths, which added to the previously reported 26 casualties, bringing the total to 41. And with roughly 1,100 confirmed cases, this means that the mortality rate of the diseases has just jumped from roughly 2.5% to 4%. Which means that if Reed is correct, and if 250,000 people in Hubei alone will be infected by February 4, no less than 10,000 Chinese people will be dead in the next 2-3 weeks. What happens after that – with China effectively paralyzed by fear and the economy grinding to a halt as nobody leave their home – is anyone’s guess.”
makati1 on Fri, 24th Jan 2020 6:00 pm
From three suspected cases in the US, a few days ago, to 63 suspected cases today. The incubation time is supposed to be about 10 days? What will February bring? We shall see. Face mask anyone? So far, zero cases in the Philippines. Knock on wood.
https://www.zerohedge.com/geopolitical/please-help-us-supply-shortages-rock-wuhan-outbreak-overwhelms-chinese-healthcare
LOL
I AM THE MOB on Fri, 24th Jan 2020 6:46 pm
Coronavirus: two first contaminations confirmed in France
https://www.lemonde.fr/planete/article/2020/01/24/coronavirus-deux-premiers-cas-confirmes-en-france-a-bordeaux-et-paris_6027158_3244.html
Duncan Idaho on Fri, 24th Jan 2020 6:51 pm
Boeing is on a losing streak:
A TV satellite is about to explode following ‘irreversible’ battery damage
https://www.livescience.com/exploding-directv-satellite-graveyard-orbit.html
Maybe putting finance people in charge was not the best idea.
I AM THE MOB on Fri, 24th Jan 2020 7:01 pm
I pledge support..
makati1 on Fri, 24th Jan 2020 11:00 pm
i pledge my support…
world muzie bag day 7 days away on feb1st
world grater nedertardland day 45 days away
world beervirus day today and short term
Cloggie on Sat, 25th Jan 2020 3:13 am
“Maybe putting finance people in charge was not the best idea.”
And then there is “diversity”.
Affirmative action and aviation/aerospace don’t go well together.
Be proud of your heritage.
I AM THE MOB on Sat, 25th Jan 2020 4:11 am
Clogg
Yea diversity only created the wealthiest and most powerful nation in the history of mankind.
Eurotrash created WW1 and WW2 and the holocaust where 6 million innocent Jewish men, woman and children were mascaraed.
Dooma on Sat, 25th Jan 2020 5:04 am
Poor Boeing, can they now build anything that doesn’t crash? I was involved in the manufacture of the moving trailing-edge of the B787, and it was a nightmare. Three years late and they had to redesign the entire wing!
Eventually, we managed to get it right. The concept of getting parts built in several different countries was not a great idea. When a fuse section – made in Japan arrived in Seattle, it did not line up with the empennage.
Do you know that the FAA lowered its strict standards to grant it airworthiness?
I have flown on them a few times, and they are very comfortable, but I wonder about fatigue cracks on the carbon fibre after years of flight.
Cloggie on Sat, 25th Jan 2020 5:09 am
Chinaman in Belgium possibly carries virus as well:
https://www.ed.nl/buitenland/mogelijke-besmetting-coronavirus-in-belgisch-ziekenhuis~abbe29d9/
Close down f* airtraffic to China AT !ONCE!
Cloggie on Sat, 25th Jan 2020 6:04 am
Yea diversity only created the wealthiest and most powerful nation in the history of mankind.
Complete BS. American geopolitical success is entirely explained by:
1. Oil, oil and oil
2. Largest white tax farm on the planet
3. Jewish genius (you want to hear that, right mobby?) organizing WW2 and afterwards Bretton Woods, creating the dollar reserve currency, responsible for 35-40% undeserved GDP (leeching on the rest of the planet), resulting in 40% US global GDP in 1950, long before “diversity”:
https://documents1940.wordpress.com/2017/09/25/timeline-global-gdp-distribution/
But this is 2020.
– Conventional oil is running out. Europe is responding correctly with a 100% renewable energy by 2050, while Donnie Mussolini is still making a fool of himself with “beautiful clean coal”.
– the EU is on the verge of replacing America as the largest white tax farm and then there is Russia waiting in the wings to join Europe
Global PPP GDP distribution potential 2020:
1. PBM €27T
2. China €27T
3. US €14T (post dollar reserve currency)
PBM+China=Eurasia = 4 times that of the US. Bye bye Bretton Woods and US supremacy.
How to get there? Easy-peasy. PBM and China sitting together and agree to appear in front of the global media, telling that:
1. Eurasia withdraws from all US-based global institutions (UN+SC+IMF+WB+etc)
2. Criminalizing the use of the dollar for transactions in Eurasia, causing Eurasians to have second thoughts in getting paid in dollar you can’t use in Eurasia. Exit dollar, US can no longer afford Eurasian produce –> US implodes because the diversity no longer gets subsidized on the cheap –> CW2
This may sound harsh and it IS, but as your deep stater Madeline Albright uses to say in those cases: “it is worth it” (well, from a European perspective).
https://www.youtube.com/watch?v=RM0uvgHKZe8
No need for an EU-army to storm the beaches of South-Carolina Normandy-1944 style, we only need to weaponize US whitey in CW2 and when it is all over, the Europeans will come up with a Bretton Woods 2.0, boiling down to: Heartland cowboys paying in euro’s.
/snikker
Sissyfuss on Sat, 25th Jan 2020 6:53 am
Watched a video where a Chinese fellow was dipping live mice in a sauce and then devouring them whole. Ugh! Then a young woman was munching on a bats wing like it was piece of KFC . Blech! Then I read that there was a lab working with deadly viruses just down the road from the wet market that supposedly was the origination of the corona virus. A society can acquire some bizarre customs after 5000 years.
Cloggie on Sat, 25th Jan 2020 8:25 am
“Then a young woman was munching on a bats wing like it was piece of KFC. Blech! ”
Indeed, KFC is not for the faint-hearted.
Cloggie on Sat, 25th Jan 2020 8:37 am
If a DM article has only 14 moderated comments, you can tell for sure that there are very many comments unable to pass the censor:
https://www.dailymail.co.uk/news/article-7928523/Nazi-propaganda-books-branding-Jews-race-defilers-devil-human-form-sale-Amazon.html#comments
“Nazi propaganda books branding Jews ‘race defilers’ and ‘the devil in human form’ are on sale on Amazon in English”
Cloggie on Sat, 25th Jan 2020 8:47 am
Scexit next after “tremendous” no deal EU-UK:
https://www.scotsman.com/lifestyle/scottish-food-exports-could-face-50-per-cent-price-hike-following-brexit-1-5080570
“Scottish food exports ‘could face 50 per cent price hike following Brexit’”
https://en.wikipedia.org/wiki/China%E2%80%93European_Union_relations
“The EU is the PRC’s largest trading partner and the PRC and the ROC are the EU’s second and fifteenth largest trade partners after the United States”
All the EU needs to say to China is: “you wanna make the New Silk Road to work? Fine, let’s have massive, but equal trade”.
Could become reality if for instance the US will impose once again sanctions against Europe over digital tax, cars, North Stream, whatever.
Cloggie on Sat, 25th Jan 2020 9:33 am
In unrelated news, this is the Chinese “Year of the Rat”
https://www.dailymail.co.uk/news/article-7928407/Millions-globe-usher-Chinese-New-Year-Rat-except-China.html
“Millions around the globe usher in the Chinese New Year of the Rat – except in China where celebrations are cancelled and streets are left deserted with 56m people on lockdown amid deadly coronavirus outbreak”
Cloggie on Sat, 25th Jan 2020 2:41 pm
Already have bought “beer and popcorn”, makati?
https://www.zerohedge.com/political/56-million-chinese-lockdown-virus-spreads-australia-malaysia
“56 Million Chinese On Lockdown As Virus Spreads To Australia, Malaysia”
Davy on Sat, 25th Jan 2020 3:32 pm
Mak lives in the Ps cloggo. The virus hasnt Showed up there yet. But it has spread to the US and Europe all ready.
Cloggie on Sat, 25th Jan 2020 3:34 pm
The Swedish left totally f* up:
https://www.theguardian.com/world/2020/jan/25/bombs-blood-feuds-malmo-explosions-rocking-swedens-cities
“Bombs and blood feuds: the wave of explosions rocking Sweden’s cities”
This is what you get if you listen to mobster and davy types.
Anyway, the future is going to be mighty interesting, much more interesting than watching Netflix. From now on your own life is going to be One Giant Netflix movie, starring you!
Cloggie on Sat, 25th Jan 2020 3:53 pm
“2 patients under coronavirus watch at Palawan hospital”
https://cnnphilippines.com/regional/2020/1/25/palawan-novel-coronavirus-monitoring.html
Everything ok, mak?
Mak?
Davy on Sat, 25th Jan 2020 4:17 pm
Big deal cloggo. We got way more cases in the US then the Ps do.
“CDC confirms second US case of coronavirus and is monitoring dozens of other potential cases”
https://tinyurl.com/yx2fy2wp CNBC
“There are 63 cases being monitored in the U.S. that stretch across 22 states, including the first patient in Washington state and the new case in Illinois, said Dr. Nancy Messonnier, director of the National Center for Immunization and Respiratory Diseases”
Cloggie on Sat, 25th Jan 2020 4:31 pm
“We got way more cases in the US then the Ps do.”
Ok, you win.
Cloggie on Sat, 25th Jan 2020 4:46 pm
The above is JaunP not Davy obviously. What a lunatic
REAL Green on Sat, 25th Jan 2020 4:52 pm
The above is Davy not Cloggie obviously. What a lunatic
Chrome Mags on Sat, 25th Jan 2020 5:42 pm
The above is again juanPee being a mental case and pretending to be REAL Green.
Duncan Idaho on Sat, 25th Jan 2020 5:59 pm
Direct Action…implies that the working class subscribes to notions of freedom & autonomy instead of genuflecting before the principle of authority. Now, it is thanks to this authority principle, the pivot of the modern world — democracy being its latest incarnation — that the human being, tied down by a thousand ropes, moral as well as material, is bereft of any opportunity to display will & initiative.
— Émile Pouget
Davy on Sat, 25th Jan 2020 6:01 pm
Catastrophic Shocks Through Complex Socio-Economic Systems: A Pandemic Perspective
https://tinyurl.com/wdfh6fc korowicz
“The globalised economy has become more complex (connectivity, interdependence, and speed), delocalized, with increasing concentration within critical systems. This has made us all more vulnerable to systemic shocks. This paper provides an overview of the effect of a major pandemic on the operation of complex socio-economic systems using some simple models. It discusses the links between initial pandemic absenteeism and supply-chain contagion, and the evolution and rate of shock propagation. It discusses systemic collapse and the difficulties of re-booting socio-economic systems.”
supremacist muzzies jerk on Sat, 25th Jan 2020 8:43 pm
above is supertard obv.
On This Day…
Jan 25, 2015: Maguindanao, Philippines
Police officers are massacred by terrorists,
who even ‘finish off’ the wounded: 49 Killed
supremacist muzzies jerk on Sat, 25th Jan 2020 8:45 pm
above thanks to supertard glenn roberts thereligionofpeace
6 days to world muzzie bag day feb 1st
39 days to world grater nedertardland day
beervirus day today and short term
show support by pledging to have bag over your head when you driving or outside
put maple leaf over your private ares
Davy on Sat, 25th Jan 2020 9:42 pm
I pledge to support grater nedertardland only.
I don’t do the muzzies stuff. I’m supertard I can do anything I want.
claes on Sat, 25th Jan 2020 9:58 pm
if a tard clock spencer would it make a noise?
if a tree falls in a forrest would it make a sound?
full woke supremacist muzzies jerk on Sat, 25th Jan 2020 10:12 pm
Davy on Sat, 25th Jan 2020 9:42 pm
above not supertard obv.
Cloggie on Sat, 25th Jan 2020 10:57 pm
“Is Beijing suppressing the true scale of infections? Nurse treating coronavirus sufferers in China claims 90,000 people have already been infected“
https://www.dailymail.co.uk/news/article-7929657/Nurse-treating-coronavirus-sufferers-China-claims-90-000-people-infected.html
If i were Xi I would lie about it too, not to cause an uncontrolable panic.
This could be the global pandemic… that will kill globalism. Perhaps its better to close down Airbus and Boeing completely, apart from the military branch.
Perhaps this will wipe out much of the global polulation and the Great Sage from the Ozarks get his 1 billion “we should plan for”.
Wonder how long it takes until some Chinese scientist proposes the hypothesis that this is an act of biochemical warfare. For the moment eating bats and cats is seen as the cause.
Cloggie on Sat, 25th Jan 2020 11:15 pm
Boeing launches new giant plane:
https://edition.cnn.com/travel/article/boeing-777x-9-first-flight/index.html
“Boeing’s huge 777-9X airplane takes its first flight”
Interesting to see why this plane would succeed where the A380 failed.
Cloggie on Sat, 25th Jan 2020 11:20 pm
“Airlift to save 200 Britons trapped by coronavirus: Dominic Raab draws up China evacuation plan as infection accelerates”
https://www.dailymail.co.uk/news/article-7929663/Dominic-Raab-draws-China-evacuation-plan-infection-accelerates.html
Wtf would you want to repatriate those!!??
Leave them were they are and instead help the Chinese authorities to contain the crisis!
Idiots.
Cloggie on Sat, 25th Jan 2020 11:27 pm
“Desperate residents of coronavirus hotspot Wuhan face TWO-DAY queues to see a doctor amid ‘doomsday’ scenes with nowhere to take the sick”
https://www.dailymail.co.uk/health/article-7928747/Desperate-residents-coronavirus-hotspot-Wuhan-doomsday-scenes.html
I AM THE MOB on Sat, 25th Jan 2020 11:35 pm
Hey clogg
How times do you post a day here?
How many hours a day do you spend here?
Just checking for a friend.
Cloggie on Sat, 25th Jan 2020 11:45 pm
Lebensraum-in-the-East latest:
https://www.rt.com/news/479135-ukraine-railroads-deutsche-bahn/
“Nein, we didn’t sign! Germans say they are not TAKING OVER Ukraine’s railroads for 10 years (yet) after PM tags Deutsche Bahn”
Rumors that German national rail company Deutsche Bahn will run Ukrainian rail for a decade.
#SmokeFire
Well, at least there is a good chance Ukrainian trains will run on schedule again.
Ukrainians, those between Lvov (Lemberg) and Kiev, are probably the most pro-German non-Germans in entire Eurasia. A direct consequence of The Communist Ecperience (Holomodor, a holocaust that actually did happen, an real event the Steven Spielberg’s of this world will NEVER make a movie about.
Expect white Americans to develop a similar pro-German affection “after the Break”.
Cloggie on Sat, 25th Jan 2020 11:47 pm
“How many hours a day do you spend here?”
Every hour Vlad is willing to pay for.
You should ask for a pay-rise from the ADL.
I AM THE MOB on Sun, 26th Jan 2020 1:53 am
I’m excited about world muzie bag day 5 days away feb 1st
imma put a bag over my head when i drive or go out and put maple leaf over my private parts
Cloggie on Sun, 26th Jan 2020 3:21 am
“How many hours a day do you spend here?”
You are right, I post too much. Retirement thingy. I announce that after today I will stop posting for five days completely in an effort to kick the habit and spend my time on things more worthwhile.
Like reading up on climate change. Already worked my way through 2 books. First this US leftist jewish activist:
https://www.amazon.com/Losing-Earth-History-Nathaniel-Rich/dp/0374191336/ref=sr_1_1
Very thin on science, very rich on activism.
At least it gives a useful overview of the history of the climate change idea. It is about the US only and ends in expressing total disillusionment with the US in fighting climate change. No surprises here.
This is the second book I will complete today, written by a Dutch science journalist:
https://www.amazon.nl/Warme-aarde-hoofd-Simon-Rozendaal-ebook/dp/B07QL35VVB/ref=sr_1_1
“Warm earth, cool heads”
He is not a denier, but a “lukewarmer”. It is much richer on science than the first book. He is in favor of moving away from fossil. But he doesn’t believe in 100% renewable energy, claims that the storage problem can’t be solved in a cheap manner and that nuclear energy is the least bad option (our Antius will love it).
I already sense I won’t have to change my opinion too much, namely that “runaway climate change” is unlikely and that I remain in the camp of the “lukewarmers”, like this Brit:
https://www.youtube.com/watch?v=j5M1qtN62yk
Nevertheless I keep supporting the 100% renewable energy policy of the EU. Reasons:
– European energy independence
– The world is running out of the cleaner conventional fossil fuel like oil and gas
– Unbuffered wind and solar ARE already the cheapest way to generate a kWh. I trust that a solution for storage will be found in many ways: batteries, hydrogen, ammonia, CH4, pumped hydro-storage, etc., etc to the tune that renewable in the end will beat fossil and nuclear on price.
– Renewable is cleaner and quiet and inexhaustible
Rather than posting here, I will write summary posts of both books and strengthen my intellectual position on climate change and why I keep supporting 100% renewable energy transition.
I may not back Greta Thunberg intellectually, I cynically know how to exploit the climate hysteria to the hard European geopolitical advantage, after the time-tested adage “those who master a new source of energy first, will be the next geopolitical master”. And that can only be continental Europe (PBM).
Hail Greta! lol