The coronavirus (COVID-19) pandemic presents a historic challenge. The prices of equities fell sharply, from previously overstretched levels. Oil prices plummeted in the face of weakening global demand and the failure of the OPEC+ countries to reach an agreement on output cuts.

The government of India plans to move 19 mbl of oil into its strategic petroleum reserves (SPR) by the end of May 2020,

Gold prices fell on Wednesday as investors locked in profits after strong recent gains. It was last at $1,711 an ounce.

The pan-European STOXX 600 index was down 1.6%, after surging almost 8% since April 6 on early signs the health crisis was ebbing and on hopes that sweeping lockdown measures would soon be lifted.

The project was approved by a federal government order in 2018. Tvel said the synchrotron and related infrastructure are scheduled to be commissioned in 2024. Total investment in the project will be more than $580m.

Brent fell 8 cents, or 0.3%, to $31.66 a barrel, WTI was down 36 cents, or 1.6%, at $22.05

This is Saudi Arabia's second consecutive monthly price cut after it slashed crude prices by $5-$8/b for April loading crude last month.

Crude oil production from the major US onshore regions is forecast to decrease 183,000 b/d month-over-month in April from 8,709 to 8,526 thousand barrels/day, gas production to decrease 869 million cubic feet/day from 84,027 to 83,158 million cubic feet/day .

The Philippine index led the gains, rising 3% and hit its highest close in a month. Big caps Ayala Corp and Bank of the Philippine Islands rose 8.3% and 5.2%, respectively.

The Australian dollar rose 0.7% to $0.6432, the New Zealand dollar firmed 0.6% to $0.6131 and the pound added 0.4% to $1.2562 - their strongest since mid-March.

U.S. gold futures GCcv1 settled 0.5% higher at $1,761.40 an ounce and hit their highest since February 2013 at $1,769.50.

France's finance Minister Bruno Le Maire said the economy was now expected to contract 8% this year instead of the 6% flagged as recently as Thursday.

Baker Hughes has approved a plan that will result in restructuring, impairment, and other charges of approximately $1.8 billion

Brent rose 16 cents, or 0.5%, to $31.64 a barrel, WTI were up 37 cents, or 1.6%, to $23.13 a barrel

effective oil supply cuts by OPEC and its allies, a group known as OPEC+, will amount to 12.5 million barrels per day