Washington/London: – 175,734 lives have been lost in the Coronavirus pandemic worldwide, and out of these, 107,000 are from Europe and more than 43,000 are from the United States. The disastrous effects of the outbreak have already started showing, and the crude oil rates have reached near zero. Although the condition improved after some time, a substantial recovery it is not in sight in the current situation, given the meagre demand.
In the last 24 hours, five thousand lives were claimed by the pandemic, and nearly 53,000 new cases were reported from around the world. 1,197 patients died in the United States on Tuesday, with an addition of 11,647 new cases. Currently, there are more than 800,000 Coronavirus cases in the United States.
As per the information given by John Hopkins University, 827 patients died in the United Kingdom on Tuesday. The pandemic has claimed 17,337 lives in the United Kingdom till date, and there are nearly 129,000 Coronavirus cases in the country. Feeling the heat of the increasing numbers of Coronavirus cases, the British health department has instructed private companies to develop and manufacture ventilators.
On Tuesday, 534 deaths were reported from Italy whereas Spain reported 430, and France reported 531 deaths. The European countries reeling under a financial crisis because of the Coronavirus pandemic have demanded additional assistance from the European Union. The European countries have appealed that the European Union should announce a big provision.
456 patients have died in the pandemic in Russia, and the number of cases there is rising rapidly. Five thousand new cases have been reported in the last 24 hours, and the maximum number of cases is being reported from capital Moscow.
Disastrous financial implications are already evident, while the Coronavirus is on a rampage around the globe. The crude oil rates touched zero, owing to the drastic fall in demand. The situation improved over time. US President Donald Trump decided to stop the import of crude oil from Saudi Arabia because of the drastically low oil prices.
The oil-producing countries are also harassed because of the falling crude prices while the economic pressure is increasing too. There are reports that some of the Gulf countries will try to tide over the economic crisis, issuing debt bonds.