ShippingWatch

Oil resumes drop after Trump limits travel from Europe to US

The oil price resumed its decline as the Trump administration implements ban on incoming flights from continental Europe. Crude has lost a quarter of its value this week.

Photo: Nick Oxford/Reuters/Ritzau Scanpix

Oil resumed declines after President Donald Trump said the U.S. would restrict travel from Europe for the next 30 days to try and contain the coronavirus, pummeling fuel demand even further.

Futures in London fell as much as 7% after being up shortly before Trump began a highly anticipated address on the White House’s response to the virus. The president also called on Congress to pass immediate payroll tax relief, but he stopped short of offering a detailed economic rescue package. The briefing failed to soothe broader markets, with the global stock rout deepening.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Eurotunnel accuses DFDS of unfair competition on English Channel

Getlink, which owns the railroad service Eurotunnel under the English Channel, accuses ferry operators DFDS and P&O ferries of having struck an unfair deal on the Dover-Calais route in terms of competition. DFDS CEO Torben Carlsen rejects the accusation to ShippingWatch.

Further reading

Related articles

Latest news

See all jobs