Economic Reckoning Is Coming for Algeria – Yahoo Finance

Economic Reckoning Is Coming for Algeria – Yahoo Finance

(Bloomberg) -- One of the Arab world's most isolated economies is fast succumbing to the coronavirus pandemic and the unprecedented crash in oil prices.. The OPEC member can't look to energy revenue for relief any time soon.. Global benchmark Brent is trading below $30, while oil futures in New York fell below zero on Monday for the first time ever.. Four key stocks set to report earnings in the coronavirus stock market rally include FANG stock leader Netflix and Dow Jones leader Intel.. Brent crude oil, the international standard price most often cited as the going price of a barrel of oil, also fell, down 5.27% to $26.60 per barrel.. I'm not sure how to react to that other than say that nobody, whether they're 120 years old or whether they're 20 months old, has ever seen an oil price lower than this," Tom Kloza, a 40-year market veteran and head of global market analysis for Oil Price Information Service, told MarketWatch just minutes before the market closed on Monday.. Negative oil prices would seem to be a foreboding sign about the outlook for an economy kicked in the teeth by the COVID-19 pandemic.. Oil prices for May delivery cratered