By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

• Crude costs money again after shock crash, stocks stay in doldrums
• US crude climbs above zero, Brent at $25.78
• Asia stocks post steepest drop since March

Oil Markets

• US crude futures turn positive after historic slide, Brent dips
• Brent down 0.8% at $25.37 a barrel (0356GMT)
• WTI up $39.00 in thin trade at $1.37 a barrel; settled at discount of $37.63 a barrel in previous session

Precious metals

• Gold eases on firm dollar, but oil-led dip in equities caps losses
• Spot gold down 0.3% at $1,687.17/oz. (0332GMT)
• US gold futures down 0.4% at $1,703.90/oz.

Grains

• Corn hovers near 10-1/2-year low on bleak prospects for ethanol
• Corn futures up 0.5% at $3.15-3/4 a bushel (0111GMT)
• Wheat up 0.8% at $5.51-1/2 a bushel
• Soybeans down 0.1% at $8.35-1/4 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

• Nigeria inflation rate Mar-20 [fcst. 13.2% yy, prev. 12.2%]
• Mali 2^nd round parliamentary elections on Sunday; vote counting
• Key African countries on lockdown; subdued economic activity
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

• Negative $40 oil reflects panic – and US crude market economic reality
• Hundreds of Tunisians stranded in Libya reach frontier post
• Glencore to reopen Zambia copper mines pending agreement with govt
• Rights group accuses Burkina security forces of killing 31 unarmed detainees
• Nothing hidden from member states, CDC experts on board – WHO chief
• Debt relief for poor countries not as simple as it sounds – analysts
• South Africa to increase welfare provision over coronavirus – Ramaphosa
• Somalia races to save livelihoods as new locust generation spawns
• South Africa Eskom notifies coal suppliers of potential force majeure on contracts
• South Africa bids to end Lesotho crisis with PM’s “immediate exit”
• South Africa rand firms as focus turns to fiscal measures, stocks dip
• Africa Oil – Angola May cargoes dwindle, term allocations awaited
• Algeria Sonatrach signs MOU with Exxon to boost partnership
• Lesotho govt has agreed to “dignified retirement” for PM
• Aid worker with coronavirus dies in Nigeria troubled northeast
• Kenya Nation Media Group reports 21% fall in 2019 profit
• Morocco Maroc Telecom first quarter profit up 0.9%
• South Africa Harmony Gold to resume reduced operations during coronavirus lockdown
• Kenya shilling unchanged, seen easing on weak inflows
• Zambia to hold IMF talks as coronavirus worsens economic outlook
• South Africa Harmony Gold to resume reduced operations during coronavirus lockdown
• Ghana turns to drones to enable faster coronavirus testing
• Kenya Safaricom forecasts 7% coronavirus hit to M-Pesa revenue

N.B. Full stories of above headlines are available on Reuters