Good morning. The results are in and the solitary LeBron advocate on our staff has been put to shame (we won’t call them out by name… *ahem*Kyle*ahem*). An overwhelming majority of our readers agree that Michael Jordan is basketball’s greatest player of all time:
Michael Jordan: 82% LeBron James:9% Kobe Bryant:5% Bill Russell & Hakeem Olajuwon:2%
“It isn’t where you came from. It’s where you’re going that counts.”
A Crude Awakening
During trading on Monday, the price of a barrel of crude oil to be delivered next month (known as a ‘May contract’) fell by nearly $56, diving into the negatives for the first time since records began in 1983. The contract, which expires today, closed trading at negative $37.63 per barrel, meaning oil suppliers will pay that amount for customers to take one barrel off their hands.
Supply vs. Demand The steep reduction in oil prices is in response to a massive decline in transportation fuel demand that has created an unprecedented oil surplus across the world, triggering a few major events:
OPEC+ on April 9 agreed to a historic 9.7 million barrel per day oil production cut – roughly 10% of the global supply.
In North America, thousands of wells across the country have been forced to close as companies’ strategic reserves are nearing capacity.
Traders are currently storing approximately 160 million barrels of crude oil in tankers at sea – more than double the levels of two weeks ago, according to Reuters.
Looking forward… Despite the gigantic dip in May contracts, the price of a barrel of crude oil scheduled to be delivered in future months has not yet seen such a massive hit.
June contracts (which expire May 19) were trading above $20 at Monday’s close, resulting in a market condition called contango – when the prices for a commodity are higher in the future than the present.
Gas It Up
The price of oil makes up over 50% of the price of a gallon of gasoline, and experts say the price Americans see at the pump is likely to continue dropping – or, at the very least, hold steady at the current national average of $1.81 per gallon.
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Global cases rose to nearly 2.48 million yesterday with more than 170,400 deaths. The number of confirmed U.S. cases rose to more than 793,000 with 42,514 confirmed deaths.
President Trump late Monday said he will sign an executive order to temporarily suspend all immigration into the U.S.
New research from the LA Health Department and USC indicates the outbreak in Los Angeles County is likely 28 to 55 times larger than reported numbers.
Governors of Georgia, Tennessee, and South Carolina have announced plans to begin easing coronavirus lockdowns.
Iran on Monday allowed local bazaars and shopping malls to begin reopening, though health officials have cautioned against a premature return to normal.
The U.S. and Mexico on Monday agreed to extend restrictions on nonessential border travel for another 30 days, two days after the U.S. and Canada reached a similar agreement.
Israel Agrees To Form Government
Israel incumbent Prime Minister Benjamin Netanyahu and opposition leader Benny Gantz agreed to form a “national emergency government” for the next three years. Under the terms of the agreement, Netanyahu and Gantz will be sworn in as prime minister and prime minister-designate, respectively. Netanyahu will serve as PM for the next 18 months, with Gantz scheduled to take over for the following 18 months.
More: The agreement avoids an unprecedented fourth general election in a political deadlock that dates back to an initial April 2019 election.
North Korean leader Kim Jong Un is reportedly in “grave danger” following surgery for a cardiovascular issue, according to information from U.S. government officials obtained by CNN. Though gathering intelligence out of N. Korea is notoriously difficult, several news outlets previously reported that Kim was absent from the country’s April 15 celebration of the birthday of his grandfather (and national founder), Kim Il-sung.
Shake Shack will return a $10 million loan from the SBA loan program after the company raised additional capital from stock investors.
United Airlines on Monday said it expects to report a first quarter pretax loss of roughly $2.1 billion due to coronavirus.
Facebook is banning posts and groups advocating for U.S. protests that violate local social distancing guidelines. The social media giant also unveiled county-by-county maps showing people with COVID-19 symptoms.
The CDCgranted Swiss drugmaker Novartis approval to begin a Phase III human clinical trial testing the effectiveness of hydroxychloroquine against COVID-19.
Uber yesterday introduced two new services that provide retail (Uber Direct) and peer-to-peer package (Uber Connect) delivery services to consumers.
Movie ticket company Fandango on Monday agreed to buy Walmart’s on-demand video streaming service, Vudu, for an undisclosed amount. Walmart has said that current Vudu users will continue to have uninterrupted access to their library, and can still use their Walmart wallet to make purchases on Vudu.
Pay For Play
The Australian government on Monday said it will force Google and Facebook to share advertising revenue with Australian media companies whose news content the companies host. Government officials have tasked the country’s competition watchdog with developing a mandatory set of rules to govern the relationship between media companies and digital platforms.
The Gang’s All Here
Cape Town, South Africa is normally considered a dangerous place, with dozens of warring gangs occupying roughly half the city, and crime running rampant in those areas.
However, the recent coronavirus crisis has inspired rival gang members to place their feuds on hold and collaborate to deliver essential goods to those in need. Said a local pastor: “What we’re seeing happen here is literally a miracle” (video).
Tom Terrific (Pt. 2)
Last week, we covered how 99-year-old Tom Moore had raised over $9 million for the UK’s NHS by pledging to walk 100 laps in his backyard garden before he turns 100 on April 30.
Fast forward to today – the WWII veteran has raised a staggering $33.7 million for his country’s health service, inspiring over 875,000 people to sign a petition calling for Tom to receive a knighthood.
Loneliness can be an oft-forgotten side effect of hospitalization due to COVID-19. Barring an internet connection, the only sources of human interaction for an infected patient are nurses and doctors in full protective gear.
Grassroots nonprofit COVID Tech Connect (CTC) has raised over $100,000 to fund their goal of securing 20,000 donated WiFi-enabled devices to ensure every hospitalized COVID-19 patient doesn’t have to fight the virus alone.
Attention All Tea Lovers:
Here at Cup & Leaf, we’re always on the hunt for new tea to sip and fresh knowledge to share.
We started Cup & Leaf to create an inviting space where experts and novices alike can enjoy our wide selection of tea, without feeling overwhelmed or intimidated. We write about tea on our blog, sell tea on our online store, and serve tea at our café in Austin.
Cup & Leaf is your one-stop-shop for all things tea, especially if you are:
Buying a gift for someone, but aren’t sure what to get them
Located in Austin and want to sip some tea, co-work with some cool people, and pet cute puppies at the café
Do any of these sound like you? If so, we’re excited for you to begin your tea journey with us.
And because you’re a smart and informed Donut reader, we’re offering you 15% off your first online purchase with us. Simply use the code DONUT at check out for 15% off your entire purchase. If you’re Austin, show this email to your tea-rista for 15% off your first cup of tea at the café!
✈️ Unravel Your Travel… if you’ve already financially committed to summer plans like traveling, overnight camp, or a much-needed vacation before the widespread lockdowns, find out the best ways to get refunds by visiting this link.
🇮🇱 The Holy See… the Tower of David museum has released a virtual reality tour called “The Holy City,” which allows viewers to experience the holy sites found in Jerusalem’s famed Old City.
🏈 Prop ‘Til You Drop… in lieu of other major sporting events, sportsbooks reportedly are offering about 150 different proposition (‘prop’) bets centered around Thursday’s NFL Draft – about three times as many as usual.
🚁 Special Delivery… drone startup Zipline has begun delivering COVID-19 test samples via autonomous drone in Ghana’s two largest cities, Accra and Kumasi.
the DONUT’s Dibs
If you’re looking for a podcast to listen to… check out our CEO & Founder’s conversation with Dr. Darian Parker on “Dr. D’s Social Network,” covering topics like the DONUT’s origin story, some of the world’s seldom-noticed positive trends, proper handshake technique, and more.
End Of The Road
Which U.S. interstate highway is the longest in the country?
A) I-90 B) I-75 C) I-10 D) I-95
(keep scrolling for the answer)
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