Economy

CRUDE COLLAPSE: Price for Oil Plunges 40%, Now Under $11 Per Barrel Despite Virus Progress

posted by Hannity Staff - 4.20.20

The price of oil plunged more than 40% this week despite growing global optimism about the Coronavirus pandemic; with prices per barrel dropping below $11 for the first time since the 1990s.

“The selloff came as the May futures contract for West Texas Intermediate crude oil — which expires Tuesday — plunged about 40 percent to $10.77 a barrel, a level not seen since the late 1990s. Investors have been concerned about oil producers churning out more fuel than the world can store even as the coronavirus pandemic has destroyed demand for travel,” reports the NY Post.

“At a minimum, oil prices will be the last asset class to recover from lockdown,” said Stephen Innes, chief global market strategist at AxiCorp. “End transport demand will only occur in the final stages of reopening when border crossing is allowed, and travel restrictions get lifted.”

“We’ve seen a strong rebound in equity markets prior to last week so it wasn’t really surprising to see some profit taking,” Craig Erlam, senior currency analyst at OANDA, reported in a commentary.  “It’s now a question of how keen investors will be to jump back in.”

Read the full report at the New York Post.

'SICKENING': Backlash Grows Against Denver Democrat Who Supported Spreading Coronavirus at MAGA Rallies

posted by Hannity Staff - 3.03.20

Denver’s Democratic Councilwoman Candi CdeBaca is facing a growing backlash on social media this week after calling for those sick with the deadly Coronavirus to intentionally spread the disease at ‘Make America Great Again’ rallies.

“Democrat Denver Councilwoman Candi CdeBaca says that she stands in ‘solidarity’ with someone who says that they if they get the coronavirus that they will attend as many Trump rallies as possible She appears to have made the statement on her government Twitter account,” posted a reporter with the Daily Wire.

 

“These people are sick,” posted Donald Trump Jr.

“This elected Democrat in Colorado doesn’t seem very nice!” the Trump campaign War Room Twitter account posted in response.

Read the full report here.

Source: Fox News

A NEW LOW: MSNBC Analyst Claims Trump’s Coronavirus Response Constitutes ‘Involuntary Manslaughter’

posted by Hannity Staff - 4.07.20

MSNBC Legal Analyst Glenn Kirschner left millions of users on social media scratching their heads this week; baselessly asserting President Trump’s Coronavirus response could be prosecuted for “involuntary manslaughter.”

“Trump’s conduct easily satisfies all 3 elements of involuntary manslaughter. In fact, his gross negligence is beginning to look more like conduct evincing a ‘conscious disregard of an extreme risk of death/serious bodily injury = the standard for depraved heart/2nd degree murder,’” he posted on Twitter.

 

Ohio Democratic State Rep. Tavia Galonski took her party’s war against the White House to a new level this week; saying the President should be charged for “crimes against humanity” over his Coronavirus press briefings.

“I can’t take it anymore. I’ve been to The Hague. I’m making a referral for crimes against humanity tomorrow. Today’s press conference was the last straw. I know the need for a prosecution referral when I see one,” posted the legislator on social media.

 

“State Rep. Tavia Galonski tweeted Sunday after President Trump spoke about hydroxychloroquine at his daily press briefing. The drug, normally used to treat malaria, is one of several that the president has pointed to as showing promise in the fight against COVID-19, but its effectiveness has been a subject of debate,” reports Fox News.

Read the full report here.

Source: Fox News

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