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| Name | Low gas prices amid coronavirus pandemic is not a healthy thing: GasBuddy |
| Video Uploader | Video From CNBC Television |
| Upload Date | This Video Uploaded At 20-03-2020 12:06:43 |
| Video Discription | Patrick DeHaan of GasBuddy.com says the national average for U.S. gas prices could test multi-decade lows in the coming weeks, but amid the virus outbreak that's also a sign of a very-distressed economy. Oil dropped as much as 10% on Friday, giving back early gains, even as the world’s richest nations poured unprecedented aid into the global economy to stop a coronavirus-driven recession and U.S. President Donald Trump hinted he may intervene in the price war between Saudi Arabia and Russia. Brent crude futures fell 22 cents, or 0.7%, to trade at $28.24 per barrel. U.S. crude futures for April fell $1.06, or 4.2%, to trade at $24.16 per barrel. Both U.S. contracts gained more than Brent because of U.S. plans to buy up to 30 million barrels of crude for its emergency stockpile by the end of June and reports that regulators in Texas might curtail output. “The outsized gains by WTI (U.S. crude) reflect the hope and not the reality of the U.S. shale industry,” said Jeffrey Halley, senior market analyst at OANDA. “Once this reality finally sets in, I expect the rally in oil to disappear as quickly as it began.” For more coronavirus live updates: https://www.cnbc.com/2020/03/19/coronavirus-live-updates.html For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://www.cnbc.com/pro/?__source=youtube » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC #CNBC TV |
| Category | News & Politics |
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