Trump Orders US Strategic Oil Reserves to Be Filled 'Up to the Top' Amid Coronavirus Pandemic

US President Donald Trump on Friday declared a national emergency due to the spread of the Wuhan coronavirus (COVID-19) that has killed at least 41 persons in the United States and infected more 1,800 people.

As a part of measures to combat the negative economic impact from the spread of the virus, Trump has instructed US Energy Secretary Dan Brouillette to purchase large amounts of oil to fill the nation's strategic reserve "up to the top".

"Based on the price of oil, I’ve also instructed the Secretary of Energy to purchase… large quantities of crude oil for storage in the US strategic reserve. We are going to fill it right up to the top. It puts us in a position that’s very strong, and we are buying it at the right price", Trump said.

The statement prompted oil prices for benchmark WTI and Brent to rebound slightly after a significant drop, rising 5 percent, to $33,13 and $34,93 accordingly, market data revealed. Earlier this week, oil fell more than 24 percent. Trump has reportedly chosen the right timing for the purchase of the crude as the market experiences a severe crisis.

COVID-19 Oil Market Impact

The COVID-19 outbreak has shattered financial markets across the globe, prompting a worldwide slump in equities pricing.

Oil prices swiftly dropped earlier this week after Trump imposed a travel ban into the US for many passengers coming from selected European countries - another measure to stop the spread of the outbreak.

Authorities across the globe continue to impose tough measures to combat the pandemic, closing borders and suspending air and ground traffic; reducing consumption of oil and its main derivative product, gasoline.

The Wuhan coronavirus has, meanwhile, reportedly prompted full or partial closure of almost all major mainland Chinese production facilities and factories. Beijing - a major oil buyer - has halted its purchases of crude, while Chinese authorities tackle the spread of the infection.

OPEC+ Deal Failure

COVID-2019 is not, however, the only reason behind the downturn in energy prices. The oil market began to stutter after the coronavirus epidemic curbed demand in China amid a global economic slowdown.

In a bid to agree to a common approach to reducing oil supply, the Organization of the Petroleum Exporting Countries (OPEC) + alliance met on 6 March to discuss measures, but failed to seal a new deal. The failure prompted Saudi Arabia to boost national oil production, increasing daily deliveries, including those to the domestic market, from 9.7 to 12.3 million barrels, beginning on 1 April.

Russia, no longer bound by oil production cuts agreements, is reportedly seeking, in its turn, to increase its own oil production starting in April.

These developments prompted a significant slump in oil prices that continue to fall.

US Treasury Secretary Steve Mnuchin said earlier on Friday that while lower oil prices hurt the energy sector they give a boost to other industries, including struggling airlines and average households through cheaper gasoline.

https://sputniknews.com/us/202003131078561665-trump-orders-us-strategic-oil-reserves-to-be-filled-up-to-the-top-amid-coronavirus-pandemic/

Four Primaries To Take Place Tuesday Amid Coronavirus Pandemic

Top election officials in Arizona, Florida, Illinois and Ohio issued a joint statement saying Tuesday’s upcoming primary elections will proceed as planned amid the coronavirus pandemic.

As mass gatherings across the country have shut down due to the virus, the election officials assured voters they can “safely and securely” cast ballots at polling locations.

A combined 577 delegates are up for grabs Tuesday.

Tuesday’s upcoming presidential primary contests with a combined 577 delegates up for grabs will move forward as planned despite the coronavirus pandemic.

Top election officials in Arizona, Florida, Illinois and Ohio issued a joint statement Friday assuring voters that they can “safely and securely” cast their ballots, saying polling locations don’t produce the same level of exposure as other types of mass gatherings that have been canceled across the country.

“Unlike concerts, sporting events or other mass gatherings where large groups of people travel long distances to congregate in a confined space for an extended period of time, polling locations see people from a nearby community coming in and out of the building for a short duration,” read the joint statement from Illinois Elections Board Chairman Charles Sholz and Secretaries of State Katie Hobbs of Arizona, Laurel Lee of Florida and Frank LaRose of Ohio.

“We are confident that voters in our states can safely and securely cast their ballots in this election, and that otherwise healthy poll workers can and should carry out their patriotic duties on Tuesday,” the statement read.

The message of reassurance from the election officials comes as institutions across the country are shutting down to stem the spread of coronavirus, which has infected 145,000 and killed 5,400 worldwide.

The announcement came the same day Louisiana Secretary of State Kyle Ardoin said he will postpone his state’s presidential primary election from April 4 to June 20 to prevent the spread of coronavirus.

Vermont Sen. Bernie Sanders said at a press conference Friday that he was concerned that some prospective voters will avoid the polls on Tuesday due to the coronavirus, but didn’t say whether he believed the contests should be postponed.

“If child care centers are being shut down, and they are, if schools are being shut down, and they are, what are parents supposed to do?” Sanders asked. “Can you go out and vote if you’re staying home and taking care of your kids? The answer is you can’t.”

“Rescheduling elections is not something we do lightly or should do lightly,” Sanders said. But, he added, “everybody who wants to vote has the right to vote, and that may not be the case today.”

Former Vice President Joe Biden’s campaign did not immediately respond when asked if Tuesday’s upcoming primaries should be delayed due to coronavirus.

https://dailycaller.com/2020/03/13/democratic-primaries-tuesday-coronavirus-pandemic/