One bright spot in all this: the Heroes Cheer. Every night, in cities around the world, healthcare workers and essential employees are being applauded as they go home, or change shifts. The debt of gratitude is real: from first responders to postal employees, transportation workers to grocery clerks, and far beyond.
We’ll be clapping hard for everyone tonight at 7pm EST, and all day every day. Take a look at the video below for a glimmer of hope and humanity in these trying times.
Now for this week’s Jolt.
Why So Crude? Crude oil prices fell last week but rose on Monday, trading around $23 a barrel. Prices were volatile last week as the OPEC+ alliance agreed to a 10 million-barrel-per-day output cut that would still only make up for a third of the demand estimated to have been lost in the coronavirus pandemic. The supply cut is scheduled to take place by June, with Russia and Saudi Arabia contributing more than half of the expected decrease in production. Though a step in the right direction, analysts said the demand loss was between 20 million and 30 million bpd. Further complicating matters was news that Mexico, a modest yet significant oil producer, opposed the supply cuts and was sticking to plans to boost their own production. The Baker Hughes oil rig count showed a sharp decrease in activity for the second straight week, going from 562 to 504 and indicating shrinking domestic production.
Keep An Eye On It. Natural gas traders are going to be paying close attention to the response from natural gas traders this week now that OPEC+ has agreed to cut production by 9.7 million barrels until the end of June. – Yahoo Finance
To Be Expected. New York has closed all nonessential businesses to battle the country’s worst outbreak of the coronavirus pandemic, and the resulting effects on electricity demand are becoming starkly apparent. – GTM
Apple And Google Teaming Up? Both tech giants are jointly working on a new smartphone-based integrated COVID-19 tracking system to be released as early as May. The new API could be crucial to opening the economy back up as soon as possible. – The Motley Fool
❤️ Thank you for all of our readers who sent in positive stories! We love reading about positivity in our communities during this time. To submit your story, simply reply to this email.
“Since children celebrating birthdays aren’t able to have parties, a Facebook Events page has been set up for the community with lists of dates, times, and places to celebrate with a Birthday Parade for the child—simply driving by yelling Happy Birthday wishes! It’s heartwarming to see.”
Heroes Cheer: Check out the video below.