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Yesterday morning, U.K. Prime Minister Boris Johnson imposed a 6-week lockdown in England due to a surge in Covid-19 infections. Lockdown measures are like ones imposed last spring and include the closures of secondary and primary schools. CNN reported, people will be allowed to leave their homes for limited reasons like shopping for essentials, exercise and medical assistance. other businesses that will be shut down until at least mid-February include sports facilities, restaurants, bars, hair salons, gyms and theaters.

For the 2021 calendar year, there will be 5.8 million barrels per day crude production cuts. These cuts are an effort to balance the current oversupply due to COVID-19 with an estimated demand forecast for the year.

Similar to how the U.S. has been handling coronavirus restrictions, Europe is planning to add localized restrictions to curb the increase of infections. The World Health Organization’s (WHO) regional director of Europe, Hans Kluge said, “7 European countries caseloads have doubled in the past two week and over half the European countries have reported a greater than 10 percent increase in the past two weeks.” Kluge also said that the majority of the increase has been seen in the younger population but there has been an increase in the older demographic as well.

Over the weekend, Italy announced that they were planning to quarantine the northern region of Lombardy as they fought to contain the spread of the coronavirus (COVID-19). The government put measures in place, such as fines, to prevent people from entering and leaving the region until at least April 3^rd. They also imposed a decree that banned all forms of public gatherings and events, such as, closing pubs, clubs, gyms, and urged residents to remain in their homes.

As we enter the end of our winter season in the Northeast, the mild winter combined with global oversupply fears has caused liquefied natural gas (LNG) prices to plummet and the worst may not be over.