Tuesday, April 21, 2020
Oil-price turmoil gripped traders
Oil-price turmoil gripped traders once more Tuesday, a day after US crude futures crashed below zero for the first time as the coronavirus crisis crippled global energy demand and worsened a supply glut.
The commodity rout also sent world equity markets spiralling lower, as investors fretted it could compound an expected deep global economic downturn. WTI had Monday collapsed to an unprecedented intra-day low of minus $40.32. Negative prices mean traders must pay to find buyers to take physical possession of the oil — a job made difficult with the world’s storage capacity at bursting point.
President Buhari’s personal bodyguard dies
The Presidency, on Tuesday, announced the death of one of President Muhammadu Buhari’s personal bodyguards, Warrant Officer Lawal Mato.
Mato, according to a statement issued by Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, succumbed to diabetes, which he had struggled with in the last three years, on Tuesday.