A month. Come back to lena stronger and fitter and the boss of australias 2nd Largest Airline promises to reboot and stay in the sky after it collapses under the strain of corona. Rollout to come but well start with Donald Trumps declaration that he will suspend immigration into the United States through an executive order he said it in a tweet that it was in response to the coronavirus pandemic referring to cover 19 as the invisible enemy added that he has to protect american jobs. They dont want drew swift condemnation from some in the u. S. Democratic party who accuse trump of distracting people from what they describe as his faulty response to the outbreak john hendren with more now from chicago. The president issued this tweet in the dark of night and he seemed to do that for good reason he could have made his announcement at his daily News Conference where he talks about the coronavirus and all of the actions the administration is taking but by issuing this mysterious tweet late on a monday night he gets the morning news cycles where the newspapers d in the morning shows talking about what hes had to say and then in the afternoon he gets another round where he explains what his policy is and then it gets to gestate in analyzed again and the president wants to show that hes doing something the centers for Disease Control just a month ago in a little known action. Issued an order that allowed the United States to stop people at the border who didnt have the proper papers and because of the pandemic that order allows them to send people back similarily no Court Hearing no chance for asylum theyre sent back automatically and now the president is expanding that to include any immigration from anywhere. In the u. S. Now were waiting for more developments on that in a few hours time in the meantime for the 1st time in history us all prices crash below 0 and moved into negative territory they have since come back to about 2. 00 a barrel but it is the new shock waves through Financial Markets there is a worldwide gluts in supplies that factories cars and have planned airplanes all sit idle so heres the team this hour weve got our economic that is abu dhabis consult more about what a list means what could happen next for the price of oil some wonderful things in baghdad with the impact on an Oil Dependent country like iraq also did you keep on in hong kong looking at the asian markets we will be with all of you shortly folks this report from a galaxy. At the beginning of 2020 a barrel of u. S. Crude oil cost around 60. 00 then came the coronavirus pandemic forcing states toward a lock downs emptying streets closing businesses and shuttering factories across the nation demand dried up and the price fell to 18. 00 and monday things took a catastrophic turn for the 1st time in history u. S. Oil went into negative territory a doomsday scenario for the entire industry President Trump called the drop interesting despite the crash hitting the stock market were filling up our National Petroleum reserves through dziedzic you know the Strategic Reserves and were looking to put as much as 75000000. 00 barrels into the reserves themselves that would top it out that would be a 1st time in a long time its been tapped out would get it for the right price capacity though both online and see in the United States is filling up since march stockpiles in some locations have risen by 50 percent and some places the price of fuel is now at a 10 year low demand is down to 0 certainty when states will reopen and all this comes as a severe blow to President Donald Trump is going to Great Lengths to protect the oil sector working with both russia and opec to reduce production now the entire Global Industry is an unknown president in crisis the Historic Deal to slash production by millions of barrels a day involved saudi arabia russia and other Oil Producing nations but experts say another global effort is needed were probably down a 1000000 from our normal 10000000 barrels down to about line that probably needs to come down some more but all the other Oil Producing countries need to do the same until the the economy recovers the plunging price is a driven by trading deadlines oil is traded on its future price contracts that you to accept. Speil on tuesday why is it virtually nonexistent some traders are now paying to get rid of oil instead of buying it the president says the industry will bounce back they got caught and there are a lot of people that are not too happy because they got caught so if you take a look at it youll see its more of a financial thing than an Oil Situation but because you take i believe in a month or so which go a little bit its a 25. 00 and 28. 00 or so its largely a financial squeeze. If there is a Silver Lining those on the frontlines of the coronavirus will pay less to fuel because a recovery in demand for oil is now dependent on a crisis that in many parts of the u. S. Is far from over and to gallacher aljazeera Miami Florida ok lets start in london with our economics. 2 dollars a barrel for oil in the United States can you actually explain that a little more to us and what this means because its really looking. Ahead here. Thats right kamar so basically the situation was that i think weve got a lot of different sonorities coming together at the same time which massively absent the price of oil firstly you got the contracts which traders use now. Where in april but were buying oil which will be delivered in may and the situation is that they amount to storage there is currently to hold all that oil is almost a non existence in the United States where running at about 76 percent coverage in the oklahoma. Refineries there so theres no way to put the oil some of that oil has been ports and into tankers at sea 116000000 barrels are at the right this very moment just just standing there just at standstill theyre not going anywhere theyre just being stored and at the time of the last price crash which we had was in 2000 there was only 100000000. 00 and that was after the financial crisis so that was kind of understandable but this is being brought on brought about by not only the current but one of virus pandemic but also the fact that we had this price war between russia and the saudi arabia saudi arabia was basically annoyed that certain rush air wouldnt come along and help to cut Oil Production by by 1500000 barrels way back in march but this is progress beyond that and then they had to go to that 10000000 barrels cut which they introduced but again that was insufficient because the Global Economy is a misapplied by that at this particular moment in time and if you really want to make a huge dent in that then you know you need to show. Down production not only in the United States but in the u. S. As well as russia 3 nations together which produce a 35000000. 00 barrels of oil where is all crises going next well were looking at the june contract so far the june contract is holding up at 22. 00 a barrel and fingers crossed traders will be the biggest cost to make sure it does stay at that level ok thats the economics of it with the thank you now the impact with Simona Fulton in baghdad on a country like iraq simona so dependent on oil what feel as if they got their. Well there are a lot of fears here about the impact of the latest drop in oil prices the World Bank IssuedEconomic Outlook just a few days ago in which it projected that iraqs economy will contract the g. D. P. Growth will be negative 5 percent negative and it also said that the fiscal deficit would reach 20 percent this year compared to a 3 percent surplus last year what is means is basically that iraq doesnt have enough revenues to even pay government salaries if you look back at march the country earned less than half in oil revenues to what it projected last year and it was about 1000000000. 00 short to cover salaries now this is extremely important in a country like iraq which has faced a lot of instability over the past few months lets remember that weve had antigovernment protests that erupted in october and 1 of the major grievances there was the lack of jobs and what many people were demanding was to have more Employment Opportunities but now were in a situation where the government cant even meet existing commitments to cover salaries of the roughish 3000000 people who are employed by the government so what options does this leave for iraq there are a few so for example it could borrow on local markets what is means is that the government could. Borrow against its foreign the reserves but theres a lot of concerns that this could raise inflationary pressures and its. Basically a draw down reserves which are needed to back its currency which is pegged against the u. S. Dollar theres another option that iraq could reach out to foreign lending institutions like the i. M. F. Or the world bank but any such programs to offer budgetary support to iraq would be tied to structural reform such as reducing the bloated Public Sector and investing in the private sector and of course such reforms are extremely difficult to do during times like these. When there is very limited funding to actually embark on those reforms thank you some wonderful scene in baghdad no asian stock markets or some of their worse trading in a month after the us Oil Price Crash the nikkei in tokyo was all foremost 2 percent also Hong Kong Sydney in seoul dropped around one percent as well and things fell in shanghai and singapore as well so did we go pollen in hong kong not a great day on the asian markets are they responding no come all the message that stock markets across asia are getting is that the u. S. Is going to have a tough uphill battle in its economic recovery and that will have reverberations across the Global Economy and therefore youre feeling the Ripple Effect here in asia as youve mentioned there most markets across the board are down the hang seng index down nearly 2 and a half percent but its interesting that the Chinese Market somehow seemed to be questioned from this they have shed about one percent thats the shanghai composite index and analysts are saying thats mainly due to the fact that china is taking advantage of this major drop in oil prices theyre doing some bargain hunting here and theyre buying our oil at rock bottom prices china is one of the worlds biggest importers of oil one of the big worlds biggest users of oil and what you see is companies related to the distribution and storage of oil their shares are doing pretty well and also china seems to be indicating that by shoring up all this oil and say its likely theyre trying to double their amount of inventory china does not release official numbers on this but analysts are saying but by doing this child is indicating that they are preparing for their own economic recovery from the coronavirus and lockdowns devika pollan in hong kong thank you. Our coverage continues in a moment we will look at al Canadas Energy sector is being impacted by the Oil Price Plunge and also construction crews and others getting back to work in some European Countries but there was a warning about a return to normality. And you probably dont want to be in the mediterranean the western mediterranean the next couple days and that might be the clue why the general pattern is still the cold down the east and south of europe thats a cold front represents the suns out so on the whole its not that bad this is developing into rotating rain spreading all the way from the spanish coast through italy towards the adriatic more or less so rain is the blue and his orange thats heavy red circulation here and that coast to spain is not going to be good but further west inspect imports its cloudy here and is only in the teens but its not quite as what i have to say if youre in london you wont like that when its been a chilis to be for days and still the sun is compensating this depicts for wednesday more of a hint of this rain heading towards its chilly course dimia and leaving for example pass the adriatic and spain into the sunny weather the east where the focus around to far as that is raining on wednesday cotton fargo on thursday the suns out on friday the temperatures slowly rising now whats happening in eastern spain usually happens in morocco algeria still the case the wind is quite strong the coasts are for about eastwards to tunis in fact it could well rain all off for the next 2 days. But. Nice early tests. And trace frank assessments why is italy struggling to cope with the number coronavirus push failure to take really aggressive action really them behind her informed opinion its going to be much more challenging in a place like haiti where theres one ventilator very relieved to go indepth analysis of the days global headlines india done enough to nip the spread of the out of hours in the inside story on aljazeera. The global coronavirus pandemic updates now and President Donald Trump says he will sign an executive order to temporarily suspend immigration into the United States because of the pandemic he also tweeted he must protect american jobs for the 1st time in history u. S. Oil prices a crash below 0 and gone into negative territory they have since they come back just to 2. 00 a barrel. But the price crash caused markets in asia to suffer 1. 00 of their worst trading days in a month and a cane toad care was off by 0. 02 its. The price crash in the us also having a big impact for the north canada is the largest foreign supply of crude to the United States david most of what this report now from Central Alberta the heart of canadas oil industry. Background for more than 16 years glenn karat has been providing fire and Safety Management in the heart of canadas oil industry with 3 shops and dozens of vehicles the Business Owner would normally have 40 to 50 employees working at oil and gas sites around western canada but these days hes down to just 5 or 6 workers while hundreds of thousands of dollars of least equipment sits idle its disheartening to have people sitting at home there for me on a regular basis to find out if were going back to work and the bills keep piling up and you know if we dont have all this equipment out work and its cost a lot of money every day every day its canadas oil industry has been reeling since late 2014 when crude prices haft from around 100. 00 a barrel to less than 50 that drop led to bankruptcies and the loss of hundreds of thousands of jobs in oil and gas a vital sector in canadas economy now with more than 3000000000 people locked down in their homes because of the krona virus the demand for oil has evaporated prices for western canadian select albertas benchmark heavy oil have plummeted to less than 5. 00 a barrel. Over the past few weeks if prices dont rise substantially the impact on oil workers here could be devastating opecs record cut in oil output has failed to prop up the price of crude and most canadian producers are now well below their breakeven point we have called it a perfect storm. And in many cases you know the folks that i work with who have been through many different cycles in this industry quite frankly have never seen anything quite like this and i dont think anyone. Will possibly ever see anything like this again chad miller was laid off a few weeks ago and with just 30 out of 515 oil rigs in operation across the country he knows hes not alone miller hopes his Facebook Group oilfield dads will help provide support for those worried about how theyll pay the rent or put food on the table its nothing worse than hearing about someones Family Member you know turning to drugs or alcohol or even suicide and thats it touches all of us because its dear to our hearts that could be any one of us last week the canadian government announced a 1700000000. 00 aid package to try to save thousands of Energy Sector jobs but with Oil Storage Facilities already close to capacity and demand at historic lows the worst may be yet to come david mercer aljazeera in Central Alberta canada the pandemic is forced to strike me as 2nd largest carrier into voluntary administration after the government refused to bail it out the day to day running of Virgin Australia has to be placed in control of another company while its assets are assessed and line had asked for an 800000000. 00 emergency loan not to travel restrictions lifted more than 3000000000. 00 in debt Virgin Australia has stood down most of its workforce that can we gauge now in sydney explaining why the government turned down that request for help. Airlines around the world around a huge pressure right now so this will come as no surprise to anyone whos been watching this play out Virgin Australia is billions of dollars in debt and most of its fleet has been grounded to carve it 19 and for weeks it has been urging the gover