The most recent WTI drop of 2.9% is the largest in a month. Supply versus demand continues to be a curious topic that is the main driver of the current crude oil situation. Oversupply of crude oil in 2020 continues as just in the past few days in the North Sea there are a combined 12 cargoes that have yet to find a buyer suggesting slow demand is taking place in the region.
With the global COVID-19 case count reaching 20 million, Russia has approved a vaccine for the disease. There is, however, suspicion around the approval since the trials have yet to conclude the Phase 3 testing. To solidify the vaccine approval, Russian President Vladimir Putin, stated the vaccine is working “effectively enough”- far too vague for most medical professionals throughout the world. What does “effectively enough” constitute? With the vaccination trials being rushed already through the world, how many corners are being cut by the nations at the head of the vaccination development? Like many questions that hint toward political gains and propaganda, we may never truly know the answer to how many corners are being cut on a vaccination approval that could indeed affect the entire globe for better or worse.
To combat COVID-19, Moderna launched a Phase 1 study consisting of 45 participants in an effort to create a vaccine on an expedited timeline. March 16th was the start of the Phase 1 testing. The initial group of 45 people were divided into groups of 15 individuals. Each grouping received 2 doses of treatment, but each group received a different dosage of the proposed vaccine (25, 100, or 250 microgram dosages). The subjects who received both doses, showed higher levels of virus-defeating antibodies when compared to individuals who had recovered from the coronavirus. The majority of participants who received both dosages did report adverse reactions, as to be expected during the trials.
With California reporting a new daily high for new COVID-19 cases, 4,515 new cases on Sunday, the continual concern for virus spread should still be at the top of everyone’s priority list. Over just the last two weeks The United States has seen a 15% case increase. Typical travel destinations in the southeast and on the west coast seem to be the most dramatically affected. The work we have all put in to “flatten the curve” may all be for naught if we, as a nation, continue to jump back to the norm too early. Hospitals are feeling the effects of the dramatic spike in cases already. The White House is making efforts to concentrate on stocking up supplies to combat a potential COVID-19 case rise this coming Fall as lower temperatures may increase the spread.
With the world being consumed for all of 2020 thus far with coronavirus headlines, we are all familiar with the risks due to exposure and transmission of COVID-19. One of the pieces of information cycling around COVID-19 is the incubation period being up to 14 days, with a median of about 5 days. This timeline seems to link up with the Memorial Day festivities many families and friends had planned. After all, we were all yearning for a chance to get out and enjoy our favorite travel destinations and break the monotony of everyday life that has engrained social distancing at such a high level.