38 Burst results for "Crude Oil"

Fresh update on "crude oil" discussed on Chicago's Afternoon News

Chicago's Afternoon News

00:57 min | 7 hrs ago

Fresh update on "crude oil" discussed on Chicago's Afternoon News

"And join the fight. I wrote a comet. Interesting calling. Where's inflation? And I pointed out Well, it's in a lot of places that don't seem to quote count is inflation like stock prices like things like lumber and copper and various commodities chips, higher prices caused primarily by the lack of supply. But the fact of the matter is prices of a lot of stuff, including residential real estate. Are up substantially. That's Terry Savage from the show. Yesterday. You could listen to the full podcast at WGN radio dot com. If you wanted evidence of inflation, the Consumer Price Index report today showed the CP I spiking at 4.2%. That is the fastest pace since 2008 Wall Street didn't like it on days. Like today. I need John Nigerian on a phone line, too. Hold me close and tell me everything's gonna be okay. John. Well, I like the pie like both parts holding your quote, telling you things are gonna be okay. You see, John to Jerry and on CNBC, also from the Nigerian family office. Good to talk to again, friend. Okay, so Well, let's start with good news. Just in the last few minutes, we learned that the Colonial pipeline is back up and running. It's gonna be a couple of days before everyone gets their fuel. But we're moving in the right direction there anyway. How will that be received on Wall Street? That will be a positive crude oil of and other people that refined products and so forth will probably see a pretty immediate reaction. Obviously, it's after hours right now, but We knew it would be back up by the end of the week s. Oh, it turns out, it's about a day or two days early, which is great. They, of course, shut it down themselves, so they claim Um, rather than let some of the malware or whatever else was that hit them that they were being blackmailed for on. But the good news is that All those folks because it supplies What 40% even though it's just among refined product. I've been saying that over and over this week I just had no idea that one pipeline was that. Essential. Yeah. And this is not even you know, necessarily a big pipeline. I mean, tinder. Morgan has I think 18,000 miles of pipeline. In the United States. But this one is pretty vital because of all those population centers on East Coast and Uh, I'm sure those people are gonna be breathing easier in the next few days, but it might take more than just a few days to get enough gas for everybody. Well, the Dow today down almost 2% 681 points, the NASDAQ Down 2.6% and the S and P 500 as well down more than 2% was that all on inflation worries. I think an awful lot of itwas, um there. There seems to be, uh, School of thought that people are thinking that the Fed will indeed do what they said they would do, and I take them at their word, Stevens, but the kids will basically Let it run hot for a while thinking that it's you know, this is almost that drinking game thinking that it's transitory. Every time you say transitory, somebody drinks these days. I was trying to figure out what drinking game you were talking about, but I get it now. Yeah, Um, And it said so frequently by members of the Fed and anybody covering the markets that it became a drinking game. Um and Probably people need a stiff drink today. After that, 680 point decline that you're talking about. The NASDAQ has been suffering for much longer than the Dow. The Dow had just hit 35,000 just days ago and then has made that sharp reversal from there. I think it's a combination of people focusing on the taxes and how, how likely it is. That they might have to pay significantly higher taxes, both corporate and individual. If that's the case, I think it's not so much transitory, but I don't think it's gonna impact us for very long. I think most of the people that are scared by that Willie. They're fairly quickly learned that they're not going to move as much on taxes as people feared, or the market will have made enough of a correction that even those that would sell are no longer really interested in selling at the prices. The market falls. Well, is this number out today? The 4.2% is that I don't want to say it's an anomaly, but it's a It's a temporary thing or short lived thing. I should say not the beginning of a trend mean that's what I thought. I saw the experts saying for what they know Yeah, well, um, obviously all the money that's been passed out with the stimulus and awful lot of people needed it. We both know that unlawful lot of people got it. That didn't need it as well because they fell into the category of wage earners that made less than $75,000 as an individual and so forth. And that's a pretty significant amount of extra money. I've seen flights full of people carrying pillows that I normally only see during spring break. And by carrying pillows. I mean, you know, these aren't business flyers, right? These air leisure fliers on But when I see that in the great numbers that I've seen, and I'd say it's close to 80% of the flight Is a straight leisure flyer, not a business flyer. That tells me that there's a lot of extra money sloshing around in people's pockets. That's a good thing. That is a good thing. But that's also why we see inflation opposite much as it is and This came right on the heels of the jobs report last week. That was a real disappointment because a lot of people have been calling for a million new jobs a month. So the CIA number is bad as that was last week is another reason. So this is two hits in a row. I think that's why you're seeing people a little more nervous than the otherwise if it was a good jobs report and a hot Inflation report that would have been okay or vice versa. Bad jobs report but a good inflation report. This was both bad on. I think that really focused people instinct. We will hope for better things tomorrow, John. It was great to talk to you again. Thanks for your participation today. Your help I I do appreciate it. Thank you, sir. Have a great YouTube. You're listening to Chicago's afternoon news. We're gonna take a drone around the neighborhood. But first here's Mary Luz guys and 58 tonight Clear Low 42 tomorrow mostly sunny and high of 65 still plenty of accidents out on the roadways,.

John Terry Savage Jerry 40% 4.2% United States 35,000 18,000 Miles John Nigerian Youtube 2.6% Today CIA Cnbc Last Week 680 Point Willie Yesterday Tomorrow Less Than $75,000
Fresh update on "crude oil" discussed on Sound ON

Sound ON

00:33 min | 7 hrs ago

Fresh update on "crude oil" discussed on Sound ON

"Jenny will go into the stock market in a moment, you know, we've seen the negative impact of panic buying of gasoline. It's obviously after the closure of the colonial pipeline will now Energy Secretary Jennifer Granholm, saying the pipeline is in the process of being restarted. Today. Active gasoline futures picked up about 9/10 of 1% and crude oil in the regular session was up by more than 1.2% today to 66 08. Now, in terms of the equity market, we had a slump and stocks after a very hot reading on retail inflation, c P I last month was up 8/10 of 1%, the biggest monthly increase we've seen since 2009. The Dow industrial average dropped 2% Today, the S and P 500 weaker by more than 2.1% and the NASDAQ composite Down nearly 2.7%. We had to move up in long term interest rates with the 10 year Treasury last quoted at a yield of 1.69%. And advisers at the CDC are backing the use of visors covert vaccine for adolescents today in the regular session, Visor shares were up 9/10 of 1%. That's your business. Flash, Janey. Thank you, Dog. I am here,.

1.69% Today Janey More Than 1.2% 8/10 2009 2% More Than 2.1% Jennifer Granholm Visor 9/10 CDC Last Month 10 Year Nearly 2.7% Jenny 1% Energy Secretary About 9/10
Fresh update on "crude oil" discussed on Bloomberg Surveillance

Bloomberg Surveillance

02:03 min | 16 hrs ago

Fresh update on "crude oil" discussed on Bloomberg Surveillance

"Going into this CPR report, 12 minutes away Futures down 11 on the S and P. We decline a third of 1% 41 35 on the S and P 500 NASDAQ futures just a little bit self that we take some weight. Off the NASDAQ, 100 years Unchanged on tens 1 61 €65 dollar 1 21 16 We come in about a quarter of 1% and the commodity market crude with the lift, Tom, timely wt. I 66 15. We advance a little more than 1% were to squeeze us in right now, before the inflation report in Jason Furman with us for a lengthy conversation afterwards on energy is we talked to Francisco Blonde you say had more sit. Citigroup are Jeffrey Currie and Goldman Sachs is colleague and energy research. Damian Corpulent joins us now with mathematics out of a coal, central Paris and, of course operations research at Berkeley. Let's talk about the game theory of the moment. Damien Berkeley leads And game theory is well. What is the push pull of oil right now, given a recovering super boom for the developed world. Hi. Everyone's liking the issue today in oil is still the success inventory and excess spare capacity. But importantly in a matter of months, this will dramatically change well in this cuts with a meaningful increase in oil demand. As the world reopens and supply just won't be able to keep up so inventories will draw down sharply. They're already mostly normalized, so we'll have a tight Physical market and opened will need to bring barrels through the rest of this year and next year, erasing spare capacity. So you know the market has rallied somewhat year today. I think there's another meaningful leg higher here and the somewhat is critical. And if you do a set of outcomes, you've got this scenario that you do 68 scenarios. Give us a Not a single estimate of what Brent crude will be at, but the set of choices you have of where Brent crude is a year from now. So our forecast is $75 the risks around that, Of course, First and foremost is vaccine inefficiency, potentially on significant new variants. That is an environment where the demand recovery is slower. You still get under investment on the supply side, but it's a more progressive rally with something price is about 70. You know the risks, then could also be that the demand recovery's even larger than we expect, right? We expect check to take quite some time to recover AM demand to be more of a 2022 story. Be once vaccination, but just six men face there's Caleb along, right? So we've learned that in Europe in the U S. You know, you could also see upside surprise in demand. Which point? You know, this lack of spare capacity becomes quite problematic. Iran's a bit of a swing factor. If Iran's not back fully next year, then we're talking 85 above. Brent prices, but importantly in most of those cases, because we're seeing binding under investment, because we're still seeing sequential demand recovery, next year's prices will be higher than today's spot price. Do you see discipline and the old patch Damian? I think that's the very important take away from the U. S earnings releases just now, you know producers pretty much, all of them beat on revenues. Yet none of them translate that in more spending. So you know, if anything, in fact guidance, a touch lower than we expected for production. So that discipline seems to be in place equity investors still reluctant to invest but getting more comfortable. You know, I think that's the right messaging for producers to stick to discipline and really create shareholder values. What does that mean? I mean, I hope it doesn't have to fear that potential significant shell ramp up. That means a tight physical market normalize spare capacity, And as I said, sustained higher prices going forward the epicenter of this cold then is this demand shock, and you and Jeff Carrie have been talking about this for a while. Now, I would have always enjoyed about the research of yourself and Jeff is that you're always talking about the character of the commodity market, the energy market. Compared to say equities and why we can't price in this demand Shock you expect right now, Damon, can you run us through that? Yeah, that's essential. Let me give you one example. If you look at sea airline stocks in the U. S, they're back to pre covert level. Jed, demanding the U. S is only halfway back to its pre covert levels. The commodity has to reflect that if Jeff Price said, recovered, we'd be swimming in jet without the needed demand. And so Commodity markets are real assets and the price. Today's mismatch between demand and supply so demand rising next month is very important to next month rally in commodity prices. You couldn't have price that two months ago. Now, further one. I think that's a critical one. We're learning across commodities this year is once inventories are low. The commodities have to reflect that scar City, right? It's number. It's hell. It's I nor its corn. You know, it's retail gasoline on the East Coast. That's what The next few months and commodities are likely to deliver. Damian Shell and technology came to the rescue. How I'm Gonna Use a phrase I heard from the Economist Lawrence Kudlow. A few years ago it Bear Stearns, which is focused on the lifting cost. Is there something out there in technology to help us with the lifting cost out five years from now, or it was the technology miracle over. So you know, the easy games are definitely behind us. In terms of technology. Now, you know, producers are always investing further. Civilization may be that next source of improvements, but Keep in mind right. You've also had very low activity until now. So that's further depressed cost as we saw in the 2000 cycle, you know, ultimately you under invest in services and you get input cost inflation. Second, and I think that's unique to share and why she was so different to other commodities. When you thought about cause you also have to think about financing costs. Right. You know, she'll producers pretty much through 12 2017 benefited from very, very low cost of capital, whether it was on the high Oh, that side on the equity side, which meant that you know, they're actually operating below their pure technological. Con structure. Now OPEC was helping over was taking out the downside risk to oil prices. So you're further operating on a truncated perception of risk. That's over right, And that's the key to shell going forward. Sure, it's short cycle. I can get a bit better, but getting that external financing is much more expensive today. And after last year's experience, you cannot really bank on open being there to always support prices,.

Jeff Price Jeff Carrie Jeff Jason Furman Goldman Sachs $75 Damian Shell Lawrence Kudlow Jeffrey Currie Europe Opec Francisco Blonde U S. Bear Stearns Damian Next Month 68 Scenarios Caleb Citigroup Damien Berkeley
Closing Prices for Crude Oil, Gold and Other Commodities

John Williams

00:27 sec | 3 weeks ago

Closing Prices for Crude Oil, Gold and Other Commodities

"Now checking other commodities at the Chicago Board of Trade. We've got corn trading about a quarter lower at sort of a quarter of a cent. Lower beans right now are down about 16 cents. Up about 16 cents. I should say it. 14 27 wheat is trading down about two copper down three cents at $4.18 gold is trading up about $13 in crude oil is down. 40 cents at 63 Oh,

Chicago Board Of Trade
The Line 5 pipeline: A disaster waiting to happen, or necessary to avoid an energy crisis?

The Big Story

01:53 min | Last month

The Line 5 pipeline: A disaster waiting to happen, or necessary to avoid an energy crisis?

"First one that comes to mind. I'm gonna guess that you went with one of maybe three. The trans mountain pipeline which our federal government purchased a couple of years ago the keystone excel pipeline. Which is actually a pipeline. Because it didn't get built or maybe the end bridge line just because it's by far the largest of all the crude oil and natural gas pipelines. That run through this country. But i'm gonna guess that none of you zero named line five. I would be shocked. Many of you even knew that it existed. I sure didn't even though it has been running from alberta to sarnia ontario for more than sixty years line. Five is an offshoot of that main and bridge line and its distinguishing feature over. The decades is that it runs through a narrow strait between lake michigan and lake here. It's distinguishing feature right. Now is much the same only. It's the danger that it might pose to those two lakes and their shorelines and the legal fight over whether or not to shut it down as well as the massive economic cost. That would come with doing that. In short for more than half a century line five has moved more than half a million barrels of natural gas and crude every day and nothing bad has happened yet so the question is are we pushing our luck. What would happen if something bad did happen. How catastrophic could it be and is it as some governments would argue worth the risk to keep all that fuel flowing.

Sarnia Alberta Ontario Michigan
Houston Billionaires John, Laura Arnold To Give Away 5% of Wealth Annually

The World

00:27 sec | Last month

Houston Billionaires John, Laura Arnold To Give Away 5% of Wealth Annually

"Charitable giving, billionaire philanthropist John and Laura Arnold announced they're committing 5% of their wealth annually helped boost giving to charities. Houston based couple the first billionaires to sign onto the advocacy organization. Global Citizens Give while you live effort basically exhorts billionaire participants commit giving 5% of their wealth and legal cause. Are also part of a coalition of donors and nonprofits looking to push Congress to raise giving requirements. Crude oil

Philanthropist John Laura Arnold Houston Congress
With ship now freed, a probe into Suez Canal blockage begins

AP News Radio

00:47 sec | Last month

With ship now freed, a probe into Suez Canal blockage begins

"Experts all building the massive containership blocked Egypt's vital Suez Canal looking for offices as the narrow waterway opens up again the canal service provider said more than three hundred vessels carrying everything from crude oil to cattle while waiting for that turned a process that will take days Egyptian government officials in showrooms shippers others simply wait for more details about what cools the skyscraper sized ever given to become wedged across the canal on March twenty three women blame does get assigned you will likely need two years of litigation to recoup the costs of repairing the ship and reimbursing those whose sole that cargo shipments disrupted I'm Charles Taylor this month

Vital Suez Canal Narrow Waterway Egyptian Government Egypt Charles Taylor
Is Biden Delivering on His Climate Promises?

The Ten News

01:28 min | 2 months ago

Is Biden Delivering on His Climate Promises?

"His twenty twenty campaign. President biden promised move fast on environmental protections. Now that he's been in office for a few months. How's he doing on that promise. I want to hear everything well. So far his administration is added eighteen new regulations and overturned twenty policies that environmental groups like the audubon society and the natural resources. Defense council opposed now toll. Cain they've stopped a coppermine from operating in arizona. After local native american tribes argued it could endanger sacred sites and sensitive habitats administration. Also pump the brakes on a decision to slash three million acres of northern spotted owl habitat. At least for now maybe the biggest decision. So far was ending the permit to finish the keystone excel pipeline. Which was supposed to carry crude oil from alberta canada all the way to the southern states in the gulf coast. Why is that a big deal. Well environmentalists were against the pipeline from the beginning over safety concerns and the increased greenhouse gases that the pipeline would release into the atmosphere. It also threatens the water supply and lands of the rosebud sioux tribe and other native peoples. Is there more work to do abso lutely. But everything's gotta start somewhere right

President Biden Audubon Society Defense Council Cain Arizona Gulf Coast Alberta Canada
Closing prices for crude oil

Bloomberg Markets

00:28 sec | 2 months ago

Closing prices for crude oil

"The Bloomberg terminal involving crude oil inventories, The EI is reporting that those inventories were up by 13.8 million barrels in other news stocks. Are off earlier highs well off, I should say, but still into the grain stocks are up after price inflation data indicated a muted increasing consumer prices for the month of February data fresh out today. Show that a key inflation gauge rose 4/10 of a percent last month in line with expectations. Let's look at what the market's doing

Gas prices soaring and could go even higher by spring

Todd and Don

00:43 sec | 2 months ago

Gas prices soaring and could go even higher by spring

"Prices are on the rise big time in the United States and have already climbed an average of 31 cents a gallon just in the past month, according to Triple A Now What's more, is the expense of the it's expected to continue increasing, according to Triple A spokesperson, Tiffany Right. Here's a quote I wouldn't be surprised at prices. Went up another 5 10, maybe 15 cents in the coming days. Yeah, The average price for a gallon of gas across America is to 77 compared to 2 37 just before the pandemic began. Right, blames the increasing prices on rising crude oil cost a diminished supply of oil during last month's winter storm and an increase in demand. You

Tiffany Right America
A look at the global oil market

Marketplace with Kai Ryssdal

01:43 min | 2 months ago

A look at the global oil market

"Get ready for it. Here's what's happened to the global oil market in the last twelve months in trader argo removed. From what is called tango to backwardation a backward dated market. That's energy consultants. Stephen shark and to explain. In regular people terms the contain go market happened when crude oil demand and prices plummeted after the pandemic hit then in the fall the global economy came out of covert hibernation and needed more oil and gas demand. Now is beginning to outstrip supply. There's a lot of optimism about a vaccine the economy's globe opening up which has driven prices up. Alex ramos at rice stat. Energy says that's good news for shale oil producers in the permian basin of texas and new mexico one of the most terrific than one of the most affordable sources of oil nowadays globally so with all of the efficiencies that we've seen in drilling and fracking essentially all areas of the permian are commercial and very profitable at sixty dollars but more oil pumping profitably out of the ground. Doesn't necessarily mean and other boom time in rig workers jobs and pay that's because there's been massive consolidation accelerated by the pandemic says analyst. Michael orlando at econ. One research. we saw a record number of bankruptcies in the oil and gas sector in twenty twenty and we were going to see a contraction in employment. The industry cost reduction in the industry. Employment in oil and gas drilling is down about five thousand since before the pandemic and down about seventy thousand since the peak in two thousand

Stephen Shark Alex Ramos Argo Permian Basin Michael Orlando New Mexico Texas
Energy ETFs are surging as crude oil tops $64 a barrel

Wintrust Business Lunch with Steve Bertrand

01:10 min | 2 months ago

Energy ETFs are surging as crude oil tops $64 a barrel

"Oil futures are having quite a day of the OPEC plus cover to countries met today and decided to leave most of their existing oil production cuts in place. And that Spike the Texas tea features up about 5% right now, $64.33 a barrel The equity markets. Meanwhile, take a turn into the red Writer on 45 minutes Go after J. Powell, the Fed chairman spoke with the exception I should say of the energy stocks. Companies like Diamondback Marathon has Chevron all up between 2.5 and 10%. But there are more losers than gainers right now. Among the activities After a Powell warned that the reopening economy could cause inflation to pick up at least temporarily. Not that he's all that worried about it. At the moment about the 10 year Treasury yield sure took a jump after that, now up at 1.5 to 6%. The S and P. 500 is down. 47 of the Dow is down to 61. But NASDAQ is down to 66. Now the NASDAQ is in the red for the year checking volatility at the at the CBO. We the vics is now up about seven. And half

J. Powell Diamondback Marathon Opec Chevron Texas FED Powell CBO
Texas Gas Price Average Jumps Again To Highest Price

Joe Pags

00:13 sec | 3 months ago

Texas Gas Price Average Jumps Again To Highest Price

"Prices are rising again in Texas Triple A Texas reporting, drivers are paying an average 2 24 a gallon of regular unleaded It's also 12 cents more than this time last year of the race prices air due to higher crude oil prices.

Texas
Stocks Waver in Wednesday Trading, Pausing Market Rally

Sean Hannity

00:13 sec | 3 months ago

Stocks Waver in Wednesday Trading, Pausing Market Rally

"Positive this afternoon. After a slow start to the day the Dow was up 133 points. The S and P 500 is up. Eight. The NASDAQ Up 16 crude oil up 38 cents to 58 74 barrel. Eighth ranked Houston

Houston
Stocks Waver in Wednesday Trading, Pausing Market Rally

Bloomberg Markets

00:59 sec | 3 months ago

Stocks Waver in Wednesday Trading, Pausing Market Rally

"Stocks started the day off and then began to slide. Now they're fluctuating another sign that investors are taking a breather after pushing markets to record highs. Investors are betting President Biden's $1.9 trillion stimulus package will help bolster the economy while vaccinations help reduce covert 19 cases. Let's look at the S and P. It is down. Well, it's little changed down three that out. Jones Industrial average is up 1/10 of a percent of 30 and the NASDAQ is down 3/10 of a percent down 45. 10 Years up 4 30 seconds. The yield 1.14% West Texas Intermediate crude oil's up a half a percent of 58 68 of barrel Comex gold is down 1/10 of a percent 18 36 even per ounce. Dollar yen, one of 4 65 the year old dollar 21 34 on the British pound. Another 38 46, a key measure of prices paid by US consumers, was unchanged for January. This was the second straight month of such was the case, underscoring the pandemics lingering wish strain on inflation. That financial markets seat

President Biden Jones Industrial West Texas United States
How the state of the oil and gas industry affects the city of Houston

Houston Matters

03:55 min | 3 months ago

How the state of the oil and gas industry affects the city of Houston

"As you may have heard earlier on morning edition. Oil giants were expected to make up some of their financial losses in the last quarter of twenty twenty but final earnings reports released. This week show. That was definitely not the case. Texas headquartered exxon mobil reported a fourth-quarter loss of more than twenty billion dollars. Bp which has its headquarters here in houston recorded a full year loss of five point. Seven billion houston headquartered conaco phillips two point seven billion lost in twenty twenty demand for crude oil dried up last year after officials called for lockdowns and travel restrictions due to the pandemic and there was already a glut in domestic supply not a good equation for the industry and the news may not be much better for oil and gas so far in twenty twenty one to discuss. Why and how it may affect houston. We're joined now by energy writer lawrence steffi. Who's the managing director for thirty points strategies. A writer at large for texas monthly and columnist for energy voice dot com lauren. Good morning good morning greg. Thanks for having me glad to have you with us. The pandemic has obviously played a big role in revenue loss for many companies. How specifically has it impacted the oil and gas industry over the last year. Well i mean you just discussed the earnings numbers and i think that that's You know one of the big impacts. I mean we've had this very unique situation over the past year where we've had an environment of low prices and low demand which is really pretty unique in the history of the industry and it's It's good a lot of companies in pretty tough spot. Does it also signal what we may see as sort of the ongoing future for this industry. Yeah i think there's sort of two it you have to take in the shorter term. Prices have come back a little bit. we'll see if the industry has you know enough financial discipline to to hold the line on that But but i think in the short term you know as vaccines roll out and and more people are able to travel again. You're going to see a pretty big spike in the band. I think when you look beyond that though you have to sort of recognize what's happening in the market and basically a lot of things are moving against the oil and gas industry You know investment is moving away from fossil fuels government policy. Worldwide is moving away from fossil fuels and even consumer choices. Moving away from fossil fuels. And that's especially true when you look at things like gm's announcement to go to a zero emission sleep by twenty thirty five. You're gonna see more products available. That consumers will give consumers an alternative to oil and gas. You mentioned government policy. How might the biden administration help or hinder efforts of the big oil and gas companies to balanced back in the coming year. Well i think you know. The biden administration has made it very clear that they want to pull us into greener energy future. Which is fine. Where i think they're being disingenuous. Is that for for many years now. Democrats have touted. You know the idea of green jobs as being replacement for jobs will be lost in the world gas industry and i think that's really You know just not accurate. I mean there's no way you're gonna replace the number of jobs you're gonna lose You know if you just think about it. It takes fewer people. To maintain a windmill does oil rig. And so you know some of those those jobs especially on the frontlines the gas industry or not coming back And that's important because those are high paying jobs. I mean it's one of the few areas in the united states where somebody with a high school. Education can still make a six figure incomes. So those are gonna be tough jobs to replace. I think the democrats need to be more honest about that situation. The other side of the coin You see republicans digging in decrying the loss of jobs that are gonna come from these policies but you know we've lost sixty thousand jobs in texas in the oil industry in less than a year And there hasn't been a lot of leadership on the republican side. We're how we're gonna manage this transition. So i think both sides need to provide some leadership and start and stop throwing around you know ideology and And actually try to try to offer some concrete solutions for the people that will be most

Houston Conaco Phillips Lawrence Steffi Biden Administration Exxon Mobil Giants BP Lauren Texas Greg GM United States
Oil price rally continues as WTI crude hits one-year high

Bloomberg Daybreak: Asia

00:20 sec | 3 months ago

Oil price rally continues as WTI crude hits one-year high

"Wt I crude oil continuing to gain although we're off session highs We've got evidence that OPEC plus is continuing to whittle down on global inventories. Chinese stockpiles now at the lowest level in nearly a year, and earlier today, the government in the states reported that Crude stockpiles in the most recent week. We're down by a million

Opec Whittle
Tribes and Native advocates praise Joe Biden’s actions to reverse many of the Trump Administration’s environmental policies affecting tribal lands

Native America Calling

03:57 min | 3 months ago

Tribes and Native advocates praise Joe Biden’s actions to reverse many of the Trump Administration’s environmental policies affecting tribal lands

"This is national native news. Making camera in print tony gonzalez tribal advocates are praising president. Joe biden's quick action to reverse the last administration's environmental policies the mountain west news bureaus savannah mar reports on inauguration day biden took steps to rejoin the paris climate accord. His administration also placed a sixty day moratorium on new leasing and drilling permits on public lands. Biden has also fulfilled campaign promises that were important to tribes including revoking a permit for the keystone xl pipeline. I think there's a sense of indication. Recognition of treaty promises. Matthew campbell is an attorney with the native american rights fund who fought that project on behalf of tribes. In montana and south dakota campbell also represented tribes in the four corners region in their lawsuit opposing the previous administration shrinking of bears ears in grand staircase escalante national monuments. A move biden has pledged to reconsider important first step an important signal that tribal sovereignty will be recognized. The fossil fuel industry is likely to be among biden's biggest detractors. His climate change plan aims to achieve net zero emissions in the us by twenty fifty four national native news. I'm savannah mar reporting for. The story is part of a collaboration between national native news. In the mountain west news bureau native american tribes praised the biden administration this week. For issuing an executive order stopping the keystone excel pipeline but now they're urging additional action to halt other pipeline projects including the dakota access pipeline. The guardian reported the standing rock sioux tribe and the nonprofit earthjustice urged biden in a video to shutdown dapple biden has not made statements on that pipeline but last year when she was a senator vice president kamala harris signed in a mikus brief calling on a judge to shut it down while an environmental impact study was done. Dapple is already transporting half a billion barrels of crude oil daily last week. Seventy five female indigenous leaders sent biden a letter calling for a halt on fossil fuel projects. That threatened the environment. Culture and security of native american lands activist also want the administration to stop construction of line three which would transport canadian tar sands oil across indigenous lands in minnesota in montana this week the state legislature heard three bills that would continue. Efforts launched in two thousand nineteen to address missing and murdered indigenous people. The cut bank pioneer press reports. The bills faced no opposition. One reauthorize task force created in two thousand nineteen and a grant that went to a tribal college to create a database of every missing indigenous person in the state to other bills create a commission to examine cold cases and provide training for search teams and the kansas city star reports. The kansas house of representatives is also considering a bill that would allow the attorney general to coordinate training on murdered and missing indigenous people with tribes. The state bureau of investigation and other law enforcement organizations advocates. Called a good first step. In the philippines eight catholic bishops are calling for an independent investigation into the killings of nine indigenous leaders. The vatican news reports the military claims they were arresting members of the communist new people's army for alleged possession of firearms and explosives and that they resisted but eyewitnesses say. The men were unarmed and offered no resistance. The indigenous leaders were opposing the construction of a dam that would impact indigenous lands. Human rights groups say the government often labels people communists who are fighting for indigenous rights. Also in the philippines indigenous youths may lose a space where they had been sheltering from the military mugabe reports. A group of sixty eight indigenous students and teachers have taken refuge at the university of the philippines and his on city. The campuses of the university have been off limits to military and police under a longstanding packed but the national defense secretary declared an end to that. Pack earlier this month for national native news and making camera

Biden Matthew Campbell Biden Administration Tony Gonzalez Dapple Biden Mikus Joe Biden Montana Kamala Harris South Dakota Dapple Campbell Paris Kansas House Of Representative The Guardian Bureau Of Investigation And Ot Dakota The Vatican News Legislature
Biden's Cancellation Of Permit For Keystone XL Pipeline Faces Mixed Reactions

Environment: NPR

03:40 min | 3 months ago

Biden's Cancellation Of Permit For Keystone XL Pipeline Faces Mixed Reactions

"Now president biden isn't just focusing on the pandemic one of the first things. He did after his inauguration. Yesterday was to cancel a permit to build the keystone excel pipeline that pipeline would transported crude oil from alberta to the texas gulf coast would have entered the us in montana from their yellowstone. Public radio's kayla roche reports on the mixed reaction to the cancellation tribes and environmental groups. Here and in other states the pipeline would have crossed have been fighting the keystone excel pipeline in court for roughly a decade last year in a video by indigenous collective buffalo defense. Roughly ten for pet tribal members protested in northern montana. They lined up with their hands held up fists and repeated a lakota phrase. That's become slogan. For the movement against pipelines like the dakota access pipeline keystone excel. Johnny were drawing. Water is life. The canadian company behind keystone xl tc energy operates a pipeline which spilled thousands of gallons of oil in south dakota and twenty seventeen and in north dakota in nine thousand hundred activists and tribal members say the pipeline endangers water-quality bricks tribal land treaties and pipeline. Construction brings the threat of human trafficking. Biden's decision to revoke a presidential permit. Donald trump granted canadian developer energy in two thousand nineteen puts a heart stop to the billion dollar project. Among those celebrating was fort belknap indian community council president. Andy work a member of the onny tribe. I'm just really happy. I'm really happy. And i'm really thankful in south dakota the rosebud sioux tribal government. Join fort belknap. In suing to stop the pipeline. Rosebud sioux president rodney bordeaux was busy coordinating cove nineteen vaccinations. When he heard biden cancelled. The permit agreed victory. Hopefully that's the end of it but will continue to fight it we're gonna watch it but pipelines supporters are seeing the collapse of ten years of work. Tc energy which declined to comment for the story. Released a statement in anticipation of the permit cancellation yesterday and said it. Suspending further activity on the pipeline county commissioners in rural northeastern montana where agriculture is the dominant industry said they had been looking forward to the tax revenue which the state estimated at sixty three million dollars. A year extremely disappointed mary. Armstrong a commissioner in montana's valley county where very large county with very few people seems like a perfect place in Perfectly compatible with us montana. Republicans strongly criticized by an institution. But keep an excel has also been supported by democrats here. Including former governor steve bullock and senator jon tester yesterday tester said he still supports the development of the pipeline but with conditions he had encouraged the biden administration to meet with supporters and opponents before making a decision while the pipeline from alberta looks dead for now the premier of that province jason kenney yesterday pushed for consequences the canadian province of alberta invest in one point. Five billion dollars in the project in a statement. Yesterday kenny culver biden and prime minister justin trudeau to discuss the decision. However the us government refuses to open the door to a constructive and respectful dialogue about these issues that it is clear that the government of canada impose meaningful trade and economic sanctions to defend our country's vital economic interest canadian prime minister justin trudeau in a statement expressed. Disappointment invite is decision but acknowledged biden's choice to fulfil a promise. He made during his campaign run

Texas Gulf Coast Kayla Roche Northern Montana Montana Keystone Xl Tc Energy Biden Fort Belknap Indian Community South Dakota Rosebud Sioux Tribal Governmen Fort Belknap Rosebud Sioux Rodney Bordeaux Alberta Donald Trump Buffalo North Dakota Dakota Johnny
Keystone XL pipeline halted as Biden moves to cancel permit

WSJ Opinion: Potomac Watch

00:21 sec | 4 months ago

Keystone XL pipeline halted as Biden moves to cancel permit

"Another order that is slated for biden ends day one signature is. He says he's going to revoke the permit granted to the keystone x. l. pipeline and just as a reminder. This is the project that is intended to carry crude oil from alberta canada to nebraska. Where it's going to link up with another pipeline going to the gulf

Biden Alberta Nebraska Canada
Drivers see increase in gas prices

NBC Nightly News

01:06 min | 4 months ago

Drivers see increase in gas prices

"For the first time. Since the pandemic hit drivers across the country are seeing a buck in prices at the pump. Well not really the time to be taking public transportation. Don't have to go do breeds. So i'm a delivery driver. Kind of sucks. Analysts say the price hikes are being driven by covid nineteen developments crude oil costing more. Thanks to confidence in the vaccine commuters considering a return to the office and travelers looking to fly. Again we are at about national average today to twenty five a gallon. That's up from about two eleven just a few weeks ago so it's been a pretty abrupt increase and we could see another five to fifteen senator decrease over the next couple of weeks but even with higher gas prices americans are paying about thirty five cents less than we did last year. Still families are looking to save about a million people have signed up for the gas. Buddy paycard a free program that gives users up to twenty five cents off a gallon at stations across the country you can also save grocery chains that offer gas discounts think walmart plus safeway kroger or wholesale clubs like sco. Bj's sam's club

Buddy Paycard Walmart Safeway Kroger SCO BJ Sam's Club
"crude oil" Discussed on Squawk Pod

Squawk Pod

10:26 min | 1 year ago

"crude oil" Discussed on Squawk Pod

"This next conversation. You'll hear with Kyle. Bass founder and Chief Investment Officer of dallas-based Hayman capital management. His firm focuses on global event driven opportunities in the marketplace bass is arguably one of wall. Street's biggest China critics making headlines recently for a twitter spat with the editor of China's state run newspaper Global Times is investments are closely watched in the business community in large part because he predicted the subprime mortgage crisis leading up to the great recession. Here's Joe on Squawk box this morning kicking off our conversation with Kyle Bass call you have a always have a global look at things and you have areas of the world that are already over leveraged in very sensitive to something that might happen. Is that where you WANNA start? What whatever you want to start you go ahead. We'll just just WANNA listen to what's on your radar this morning. Well Good Morning. I picked a hell of a morning to come on but I think that Going back to your questions about oil. You know being here in Texas and knowing a lot of these producers and and a lot of the people that move move oil around One thing that the that the trump administration has been doing and what Kushner's job has been Catting around the Middle East is to get oil prices. Lower I I don't I think they needed to be careful what they wish for. I think they don't realize that. Anything below forty doesn't work and he he definitely achieved this mission and getting oil prices lower. I as we all know A number of US unconventional shale production Is going to end up bankrupting itself. And The one cure for twenty five dollar oil twenty five dollar oil so it won't stay here for a long. Because none of the producers make any money at these levels and then what will the collateral damage be of of of oil curing? Its own problem at twenty five but in terms of corporate problems and sovereign problems around the around the world the sovereign players that that benefit from a loyal price Like Japan China in any of the others that have very very few natural resources and then there are those that that are going to be hurt. Pretty dramatically By royal being at thirty or twenty or wherever it ends up you know the regime in Iran is already dealing with the largest existential crisis. That it that it's had with it's With Krona virus running through the the ranks of both the the leadership and the rank and file and that population. We think that that the The the extent of what's happening in Iran is being dramatically under reported And so you have places that are. Let's say not so politically stable are going to go into a state of complete disarray. And I think that I think that's also a problem. Geopolitically are going forward he kind of broader question. What do you think is baked into the market right now? In terms of how bad things get here in the United States and elsewhere and as they relate to the virus as they relate to the virus. That's what I understand this morning. What what what. The market is actually expecting versus. What could happen both by the way on the downside and perhaps even on the upside hopefully as we all know this too shall pass. It's our view at our firm that that the summer months will end up burning the virus Burning it down to where we see a decline in new cases once we finally get the cases tested number one. I can't believe that we don't have testing stations in every major city in the country that that should be a open and close issue than like a can't approach any kind of pandemic and that's something. Our country should develop but as far as what what is factored into the market. Today you see European markets down anywhere from seven to nine percent. Our futures are locked down five. You know I think that our market has a lot of this virus factor in When you look at where airlines stocks trading when you look at cruise cruise stocks are cruise liners when you look at anything that has a large public presence like theme parks. You already have a pretty significant recession priced into the stock so anything that anything better any turn in the number of of infections once we get everyone tested is going to a very positive event. the different. I guess the question that we must have is how many of these companies have enough cash to make it through that That divide and You know some of them do some of them don't but there there will be some amazing things to purchase on the back end of this. We just we as a firm hope and we as a country hope that we don't see a resurgence of the virus in the in the fall because as we all know the thing that worries me the most about this is their only about nine hundred forty thousand hospital beds in the US at any moment in time there six hundred thousand of them being used three hundred forty million people in the US. We can't have any kind of significant infection with any any kind of acuity here without having real problems with the number of those. That need to be Hospitalized hey you said that there would be big bargains to be had at the end of this are you. Are you buying anything today? I do think it's too early. I think that We haven't gotten around to even the first round of testing in the US. You have a number of cities that immediately declared states of emergency That that That Ha- that really don't have any significant confirmed cases. I think you're going to see the ranks of the. Us started put up. You know a few thousand confirmed cases right away. And that's just because we're behind on testing so I I think peak virus if you're if you're asking for when the financial markets EP virus. I think it'll be about a month from now. So Kyle is that mean that you are selling into this. I'm definitely not selling into this but we are look. There are a few companies out. There that are that are going to do really well on the back of this. I'll give you one example six flags theme Park Company And these companies are heavy and real estate. They have great operations around the country. But it just like an airline. You can't have revenue disappear when you have such a large installed fixed cost base so those companies are going to be the most conduct's on the way down. They're also going to be the most interesting value plays once we see Peak virus infection rates. But there's a month to go what are you doing between now and then I mean watch one of the most interesting Financial Collapse that we've seen right in the last fifteen twenty years this. This isn't two thousand eight right. Our banks aren't going broke But there will be places around the world that never recapitalized in the last Crash she thinking about Europe the Never recapitalized the European Bank. So if you look at where European banks trading today and where they will be In the next six to twelve months to Europe's going to have a real problem Italy their banks are basically going to become insolvent very quickly. Italy's got north of one hundred and thirty percent debt to GDP and they know capital and their banks. And so what's happening in? Italy could be the knockout punch for Italy. Either we're going to see a default within the euro zone in Italy or we're going to have to see the Germans. Germany will have to change the capital key in Italy. Ecb's going to have to go in and really help Italy and let them expand and then the other the other economy at risk is Hong Kong. The most developed area. I wanted to ask you about so China. We've had many times talking about the trade war. What is this throw into the entire mix yet? Do you believe the numbers that you're hearing from China. Did they handle this and and cap it? Should they be reopening the factories and theme parks and everything else at this point? Do you believe numbers. Yeah what what you what you learn about the Chinese Communist Party is they. Don't care about their people as much as they care about Maintaining power and I think they know that if their economy Stays too low for too long? That had that crisis for leadership From a power perspective. So they're telling people to go back to work Entirely too early and no one believes any of the numbers coming out of China. And it's it's interesting right. The first thing the Chinese government did was they arrested the seven doctors in Wuhan that found this virus in the first place late last year. They're not only arrested him. They forced them To issue an apology and then they quote punish them. God only knows what they did to them when they punish them and somehow the W. H. O. is lauding China for doing the right thing and taking charge of this virus when all China did was do a major cover up for God knows how long so I don't believe any of the numbers out of China but what's most important is China's banking system is three and a half times. Gdp You know. Hong Kong's banking system almost nine hundred percent of GDP and their economy is off. So you've got what we're going to see us something worse than the Nineteen Ninety eight Asian crisis over there over in South East Asia and I think the epicenter. We'll be China and Hong Kong. Okay thank you kyle So much to talk to you about come on back Maybe even this week so we can keep walking through this. We use your sanity that squad pot for today. Thanks for listening squats hosted by Joe Kernan Becky quick and Andrew Ross Sorkin tune in weekday mornings on CNBC at six am eastern to get the smartest takes and analysis from our TV. Show right into your ears. Subscribe to Squawk Pod. We are available for free on Apple. Podcasts spotify stitcher wherever you listen and say hi Tweet US ask Squawk. Cnbc will meet evacuate tomorrow. Thanks guys this. Cnbc podcast is brought to you by TD. Ameritrade investing isn't one-size-fits-all every investor has a unique style. That's why TD AMERITRADE offers two different mobile APPs there's TD ameritrade mobile which lets you manage your portfolio with streamline simplicity or thinker swim mobile which gives you tools you need for more advanced trades and in-depth analysis visit td. Ameritrade DOT com slash APPs to find the one? That's right for you once again. That's TD AMERITRADE DOT com slash APPs..

Kyle Bass China United States Italy TD AMERITRADE Joe Kernan Becky Iran CNBC Japan China Cnbc twitter Global Times Europe US spotify founder Chief Investment Officer of da
"crude oil" Discussed on Squawk Pod

Squawk Pod

08:24 min | 1 year ago

"crude oil" Discussed on Squawk Pod

"So it won't stay here for long because none of the producers make any money at these levels those stories and more. I don't know if I'm hoarding yet. I bought a lot of Docs. I'm CNBC producer. Katie Kramer it's Monday March ninth twenty twenty. Squawk pod begins right now becky by in three two one good morning everybody. Welcome to Squawk box here on. Cnbc live from the Nasdaq market site in Times Square. I'm becky quick along with Joe. Kernan and Andrew. Ross sorkin our guest. Today is Jason Trainer from Strategic Research. Partners I up today on the podcast crude reality in crude prices. And you don't see moves like this very often. The global price of oil plunged today falling after OPEC failed to strike a deal with Russia. Over production cuts that means the cuts? Currently in place will likely expire at the end of the month giving oil producing countries. Free rein over how much they pump on Saturday. Saudi Arabia slashed its selling price for April and the kingdom is preparing to raise its production as you'd imagine big oil companies like Exxon and Chevron here in the US started trading lower and this pressure caps off two weeks of volatility in the US markets. This is a situation where you had OPEC and Russia who had the OPEC plus as they call it. Who had been cooperating for a long time Finally Russia said forget it. We're not going along with this far. The Saudis are saying. Just stick it to us. Well stick it to everybody. We're GONNA punch off the money and show but but nobody's swing producer if anyone is it's not Saudi Arabia anymore. Nope that's what I'm saying. I think they just stick it to us. I think it's weird is it. This is supply but it was caused by by the the specter of demand. Right going down so but this is definitely supplying everything. We're talking about. China all of it is supply components and demand components though what you've been watching a WTI up to this point had been completely the demand and the concern about how demand is looked at thirty percent drop is purely so Saudi look at where we rushing firm amazing and someday we'll look at it and it's not a silver lining but man things are going to be cheap to pump pretty soon Quick though no it's not it's a reflection of demand globally which is gonNA fall but it's also that there is a supply people were saying it's tougher transition to all your stuff with thirty two dollar oil people guy tougher to transition to all the stuff with stocks down pressure on demand. Precedents apply pressure on everything. I mean you could argue all of our conversations were I don't want to say and market bubble conversation but when when things are going well you can you can change and things are not going to spend all of this money for carbon tax car and everything else that goes along with with Delta. When you're watching demand call eight hundred percent. I mean you know this is real in. It's bad and it's real bad but the end of the world only happens usually once. I think it can only happen but we are. You know. There's going to be some things on the shelves where you're like. Wow I can't have that anymore and so that that are like wait. I can't eat here. There's no Vegan stuff I mean that may become less important as we go all this stuff. That millennials have. Oh my God. I can't log into my APP. My my life is ending all these things. I mean. We've had pretty good for a while and I'm not saying we're not going to but I think the next couple reality. I bought a few things. I admit in you from hoarding yet. I pop Dongfan a lot of dogs through that really quickly not us were. We're GONNA talk about what's happening in Italy but I think I don't want to say that's coming here soon but I think they don't become here's your right. I saw a South Korea mortality rate where they have the best testing and the best mortality rate in. Its point six five. They're testing has been pretty phenomenal right. So it's somewhere between point one and one point zero. It's not three point two. Which would really Neil Ferguson? If you look at the numbers look you have to remember that? You're you're also looking at an area where people can get a lot of healthcare it. I think the higher incidents are in areas where they don't have the same sort of quality of some Germany how many how many out very few injuries early yesterday. Italy's government took the extraordinary step of locking down much of the northern part of the country restricting movement for about a quarter of the Italian population. It's the most sweeping effort outside of China to try and stop the spread of the virus and is seen as sacrificing Italy's economy in the short term to try and save it from the worst of the virus. Vanja joins US right now with more on that. And what can you tell us this morning cloudy? Good Morning Becky. The coronavirus epidemic saying Italy is really taking a toll on the economy here which was already lagging behind compared to the rest of Europe and he was still recovering from the recession for ten years ago. And now these taking him back to the point that Today we saw the stock market allowed the foot dropping by ten percents. Even now I just checked it as about minus nine point eight percent of course as Similar to other stock markets across certainly It is one of the worst performances out there For now well. The Prime Minister of Italy Giuseppe called the last night aware of course of this situation. And how bad the impact on the economy said that they are planning to introduce a shock therapy in order to counteract the effect by from November's Bill De Account Talion economy. The shock therapy includes right now. Something that was presented by the Economy Minister Couple of days ago. They said that they're going to inject at least seven point. Five billion euros. That's nine billion dollars into the economy in terms of investments and so forth and also they are planning to increase the budget deficit deficit goal to two point. Five percent from two point two percent with the help of course of a more relaxed European Commission restrictions becky Claudio. If you if you look around you does it. Feel different there. You're not in the lockdown. Play you're not in the lockdown areas. But how does it feel where you are even if you're not in lockdown area of the whole nationwide? They close down at museums. Closed down archaeological sites right. Now I'm at the Coliseum. Usually displays is battling with people especially in the beautiful Sunday. Like this and this is the start of the tourist season. There's really not many people around. Because the war spreads the colosseum is closed. The forum is closed and all the museums are closed and this is one of the sections of the economy that are being really batard living tourism. This being a massive drop in the number of people who are visiting Italy. And we don't know when this is gonNA end Peggy Klaudia. Thank you very much. We appreciate the update. Global Investment Strategist at pro shares advisers and our guest host says we have mentioned Jason Trent Strategic Research Partners So semi what. What your words of wisdom this morning and whenever we are in a period like this we hear you know. Just keep calm. Keep keep your wits look for opportunities. Is that what you would say this time or or is this time where you say if you get any bounce at all. Maybe you should lighten up. Where are you? There's what do you do in the midst of this is how you position yourself as we hopefully get out of it at some point which we always have as you said the world only ends once going forward the biggest Correction we've had an pandemic over the last X. number of years Zico which was twelve percent and markets have been up six and twelve months hence after just about every pandemic that we've had so the piece that was referencing with new Ferguson. Goes BACK TO H One n one in the swine flu and in looks at comparisons there but most people are saying. This is a fifty year viruses. Isn't maybe it's not a a hundred year but it's a fifty of us. So it's not like Zeke. It's not it's not like things but we don't. I don't know what it's not whether we know it or not. It matters how much fear it's created in the marketplace and therefore how much supply shock and how much demand shock there's going to be and to the extent there's credit.

Italy US Saudi Arabia OPEC becky Claudio Cnbc producer Neil Ferguson China Russia Katie Kramer Ross sorkin Times Square Kernan Jason Trainer WTI Germany South Korea
"crude oil" Discussed on KDOW

KDOW

01:41 min | 3 years ago

"crude oil" Discussed on KDOW

"Bordering Right Crude oil prices are maybe were? You I heard oil going in that euchre Your political Crude oil and then afterward that the, the dollar In crude oil I agree, I day in Berkeley at one another Only have been And Got Derive what your opinion Between crude oil and the dollar Thank you very much Yeah he's right usually the dollar with a dollar goes. Up crude oil prices don't. Go up with it and we've had both both in the last few months to three months where the dolls gone up in value and crude. Oil has gone mirror crude oil is valued in US. Dollars around the world Okay So when the dollar goes. Down Usually. Crude, oil prices would move up now all. This is not all the. Time there's not a perfect correlation so why has crude oil prices gone up dollar got up mostly. Because of of of trade tensions Going back about two or three months ago Trade tensions between our trading partners and got much more coverage. In the news than it was before that Of course OPEC..

OPEC Berkeley three months
"crude oil" Discussed on Marketplace All-in-One

Marketplace All-in-One

01:50 min | 3 years ago

"crude oil" Discussed on Marketplace All-in-One

"Will a safe haven here in the us and people investors looked to by usbacked debt and so when you see that the demand for us treasuries goes up that means the prices go up yields come down go the interest rates all right susan schmidt westwood holdings group in dallas thank you thank you so setting aside the crude language crude oil i mean let's switch to retail gasoline prices which are running high into the busy memorial day weekend marketplaces and euler reports drivers will pay the most expensive memorial day gas prices since twenty fourteen according to aaa jan johnson is a spokesperson with the group she says four years ago the national average for a gallon of gas was over three dollars or enching towards that former morial day weekend we're currently at dollars ninety cents for the national average we will see prices go higher whether or not we'll hit three dollars by memorial day we're not yet sure much of the uptick in gas prices thanks to eighty dollars crude oil record gasoline demand and shrinking global supply in the face of the running sanctions and turmoil in venezuela but craig stevens former us energy department adviser says those prices aren't going to keep people from driving where they wanna go typically families are making those decisions based on how competent they are going to stay in their jobs and right now the economy is quite robust unemployment is incredibly low and people are feeling good about the us economy one bright spot although gas prices are high aaa found that other vacation costs airfare rental cars and hotel prices are lower than in years past i mean dealer for marketplace disney was going to buy a part of the twenty century fox media portfolio but it's just been confirmed this morning the nbc bunch comcast is getting ready to try to outbid disney for fox disney's fifty two billion dollar package you got a lot of headlines but will be following this clash of the titans.

dallas jan johnson craig stevens us disney comcast fox disney titans susan schmidt westwood holdings venezuela nbc three dollars fifty two billion dollar eighty dollars twenty century
"crude oil" Discussed on Marketplace All-in-One

Marketplace All-in-One

01:39 min | 3 years ago

"crude oil" Discussed on Marketplace All-in-One

"This marketplace podcast is brought to you by indeed are you hiring with indeed you can post a job in minutes set up screener questions than zero in on your shortlist of qualified candidates using an online dashboard get started today at indeed that com slash marketplace that's indeed dot com slash marketplace and by the michigan economic development corporation our world is becoming more hands free and thanks to planet them that also includes the future of transportation michigan has most comprehensive autonomous real world testing conditions and leads the nation and patents relating to navigation and smart mobility to learn more visit planet m dot com planet m michigan were big ideas mobility are born crude oil is not over one hundred dollars a barrel but might that happen again soon i'm david brancaccio in new york wall street heavyweight ubs has become the latest financial institution to predict that crude oil could top one hundred dollars a barrel which might ubs says spark a recession here or this morning in new york is actually down about let's see here about four tenths of a percent but still near seventy two dollars a barrel last june it was forty five dollars the us restoring sanctions on oil producer iran is a piece of this but also relevant a huge launch of a new stock do sometime soon here with me in the new york bureau to go deeper is susan schmidt senior portfolio manager at westwood holdings ruben dallas good to see you give them morning so look i mean i have this big wall street investment bank says you know crude oil could go above a hundred dollars a barrel and then in the same paragraph mentioned could be recession if that happens right great news to hear right.

michigan david brancaccio ubs new york us iran senior portfolio manager westwood holdings susan schmidt ruben dallas one hundred dollars seventy two dollars forty five dollars hundred dollars
"crude oil" Discussed on WLAC

WLAC

02:23 min | 3 years ago

"crude oil" Discussed on WLAC

"The us do stations i've been watching bbc at another of other international news agencies and one of the things that they're not telling us here in the united states is it in all the rest of the countries of the world there is a a rush no mcdaddy mad stampede towards renewable energy and if the the latest stories that i've been reading is is that they are building solar energy plants all over the world australia africa even in the oilrich gulf states are building these gigantic solar energy class and a little country like chile just build a huge geothermal plant that supplies half the country with uh oilfree energy and just just seems to brush in the direct opposite view of where the united states is going we're staying with fossil fuels and the rest of the world is just running as fast as they tend to these green renewable energy so they don't have to by all these oil and coal and all this other nonsense you know and i want lenzi's uh view on on that go ahead mm hmm i am i glad you brought that subject up uh 'cause i would love to do another whole program with you on this oh it because to urge fossil fuel our friend just mentioned that pleased goal look up to word a biotic crude oil is not a fossil fuel hit ears renewable energy the delete have known this for years when i was it prudhoe bay they explain to me oh yes we've been able to tell the world and calls from to believe that these g k dinosaurs and all of this plant life and so on the created the crude oil industry down there and sunday it's going to give out that is not true the elite have known and if known for years that crude oil is eight by ought dick they don't know with what causes it but deep down in the heart of the earth the oil is being created even today and it comes to the surface fully is research fossil fuel which you many have been led to believe all these years now of course please go and look at eight biotic and learned.

bbc united states renewable energy lenzi crude oil solar energy australia africa chile prudhoe bay
"crude oil" Discussed on MAD MONEY W/ JIM CRAMER - Full Episode

MAD MONEY W/ JIM CRAMER - Full Episode

01:56 min | 3 years ago

"crude oil" Discussed on MAD MONEY W/ JIM CRAMER - Full Episode

"Polish position in the history of crude oil futures history six hundred sixty six thousand net long contracts now i gotta say that is our most bullish position in history again being bullish is not a good side it's when everyone's bears that you want when everyone's bowlers will then unanimity of convert to be able to start by and taking these people out you need to convert pair bears similarly commercial hedges were also holding one of the largest oil hedges in history okay so now you're starting to get a situation where both sides remain on track if you want to buy will now theoretically garnered this trend could continue desolate there's a universe where people just keep bio oil hand over fist is wanted to end there's a lot of risk in the world but it's probably not this universe in reality sooner or later the tray blocked online and his car points at one of these massive speculative pets in oil on winds you could do not want to be get caught in anywhere near the black asked radius how bank couldn't get get this those six thirty six thousand of contracts there presenting huge number potential sellers of things start go south if these baker to start liquidating gore suspects that could push group back toward not 60 but fifty dollars a barrel possibly even lower the fundamentals take a turn for the worst but she's very careful to point out that the fundamentals don't actually need to deteriorate for the price of oil to get slim everything could say the same as long as he speculators feel the need to take profits aggressively they could crush the price of oil and other words shouldn't be this high now there's another daily immature which is that the weak dollars been very good for oil prices it'll critised to not milliondollar dollars right so check out this dollar this daily short of oil versus the dollar index futures which measures the greenback against the basket foreign currencies look at this correlation as the dollar plummets.

baker oil prices crude oil gore fifty dollars milliondollar
"crude oil" Discussed on Superinvestors and the Art of Worldly Wisdom

Superinvestors and the Art of Worldly Wisdom

01:56 min | 3 years ago

"crude oil" Discussed on Superinvestors and the Art of Worldly Wisdom

"And that that that the continuing oversupply could take us back down there with a thing is that what's happened is especially in the wake of hurricane harvey the brent wti spread widen dramatically all of a sudden exports or through the roof now i personally don't think that the market has come back into a balance of supply and demand what has happened is the accumulation of oil in storage that was most visible in the united states is being moved it's a shell game and i sometimes kind of get conspiratorial and wonder who might be gaming things in order to caused that intentionally to happen i i can't prove that that may be going on but i think that what's happening is one way or another whether whether somebody is doing it intentionally or not visit the growing stockpile of crude oil stocks that was visible in those eia inventory reports every wednesday in the united states our going someplace else the oil is piling up elsewhere in the world and what you see is this really dramatic draw down in crude oil inventories in the united states there's still piling up and cushing oklahoma interestingly which i think has to do with cushing being a little bit landlocked but as far as gulf coast price gulf coast at inventories there's major drawdowns art berman just had an excellent article on his blog about this talking about how you know we we go a the other you know it go is much in drawdowns as we've had this year so far again and we're back to normal levels and that's going to push oil prices back up so i thought we had another wave down and i what i've been saying for the last year or so is this next wave down as the last one the low of let's say it's thirty dollars that i think we get may be before the end of this calendar year two thousand seventeen.

hurricane harvey brent united states oklahoma berman oil prices crude oil cushing thirty dollars
"crude oil" Discussed on AM-1230 WJOB

AM-1230 WJOB

01:37 min | 3 years ago

"crude oil" Discussed on AM-1230 WJOB

"The value of financial and nonfinancial assets for example crude oil so a lot of times when the when gop political risk is rising when bureau wars are rumors of were specially in the crawled currently illegal you're gonna find crude oil prices rising and so when you look at the price of commodities like crude oil and gold both are very good measures of geopolitical risks and inflation you find that they are on the bullish side you know now on the other hand the or maybe a little difference in the stock markets because stockmarkets hansaria instantly negatively to sustained risk so if we have high volatility uh vicks goes up on stays pretty high oftentimes deaths associated with falling stock market investors were vicks becomes a very useful metrics for individuals who sheets against census to how the how the stock market uh how stock market players he'll about what's going wrong in throw the circus as a thought murray of the popular with the vicks being up these surfing that would be attractive for those the traders and swing traders because you know they're playing within live louisville they're trying to find ways to play within the spurs it could be depending on your position so if you're a day trader and you are expecting uh you know you're expecting a and you see very high volatility in the market high volatility is price swain so if priceless art zigzagging back.

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"crude oil" Discussed on Monocle 24: The Globalist

Monocle 24: The Globalist

01:52 min | 3 years ago

"crude oil" Discussed on Monocle 24: The Globalist

"In a in a in a country where we all know where what people's right to free speech is like what can people actually sakes commentator about this uh well i mean to be fair most of the people that i have encountered sort of took place has been very positive and say that you know that saudi needs to respond to the challenges the future it needs to think about what will happen when there is no more oil this is also of course happening in the context of the opec deal that is trying to cut production and therefore raise the price of crude oil around the world and say saudis you know innovation is trying to just respond to the challenges of the day ready at rightless is move on last week there's an enormous amount of publicity surrounding the announcement the saudi women will be able to drive a car suddenly businesses as old trying to sell them to ladies is that right unsurprisingly yes so at this is an enormous amount of ads now targeting women in saudi arabia as according to believe that nine million potential customers that was even at one tweet by affords the car manufacturer offering a free call to one of the women who i was part of the campaign to drive in saudi of hissy they won't be giving away nine million free calls or at least i would hope not cassatt does that sound like a very good business model that this is that you know pushed by various comic has to try and attract female business not just to cause but also to things like insurance car loans and even to billboard ads because a parent me featuring women driving on billboards has also been banned i'm on whether that's going to change soon is is it as part of the new driving little seems likely it's it's one of those interesting things again that the.

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"crude oil" Discussed on KTRH

KTRH

02:01 min | 3 years ago

"crude oil" Discussed on KTRH

"Energy producers and twice a year oh we go to houston at present the findings just an update to uh to uh a small but elite media bunch down there so this would be some of the general press view only guess trade for us to houston chronicle and some other uh energy information outlooks their love to have you all in that meeting by the way um and so this is what occurred last week you throw you and clubbed in downtown houston suit just to presenting of the findings as a bid year two thousand seventeen fell and and looking at uh sixteen verses seventeen in july sixteen versus seventeen were up this eur twenty five point one percent in in oil price alone well that's right to uh the the index itself i mean you can look uh of course uh crude oil prices you can look at these individuals so it's a numbers the problem with all of those is that they kind of change different times crude oil prices actually bottomed out uh and uh a third lowpoint been this less cycle of contraction in february of two thousand sixteen and then began to recover it wasn't until several months later that the recount bottomed out uh there's a little bit after that took the number of drilling permits turned around it was much later in year wanted industry employment it bottom and began to grow again and of course so go crude oil production was still higher in two thousand fifteen compared two thousand fourteen so all of these have different turning points in that kind of the value the index is to uh is to turn all of those numbers in the one don't do the two of the 10 points it was twenty points so what irish certainly have a set of numbers it looks a much better in two thousand seventeen that in two thousand sixteen and frankly this is two thousand seventeen is a year is now and will be a year of recovery in the oil and gas business in texas after uh really twos to solid years of just a.

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"crude oil" Discussed on AM 920 The Answer

AM 920 The Answer

01:41 min | 4 years ago

"crude oil" Discussed on AM 920 The Answer

"Prices rebounded in in crude oil quite quite a bit since first quarter two thousand sixteen but you know what i still look at what's going on it's still got me a little nervous about pound in the table in telling people just go on lien so whether dollarcost average like a say you know jerry you made the point we don't time the market by that we mean we're not going to tell you to get all inner allowed at any given time but sometimes it does make sense to go a little slower is when you're putting your money in again i made the point it's a great time to rebalance your portfolio to your longterm strategy making sure that anything has outperformed other areas is is brought back in those pieces that have underperformed is probably a good time to to put a little more money allocate a little more money to those sectors as well sure other things that i take into consideration so right now extinct hammer cash is turning melton absolutely even if you invested in dividend tax you're getting cash on even if it has pulled out here so i look at it as you know what am i investing and if you're investing in dividend paying stocks are portfolio david into paying stocks such as we have here then sometimes i do increase that a little faster just get in to get the demining going sure hank his that's the point of the portfolio i also look at here point a rollover cell if you've rolled over money i look at what how much was invested in growth is typically when euromoney ever they sell it from what you are a macedonian planning cash and send right attacks invested 100 percent in the stock market and you come over here thing in cash and we're trying to decide how fast to put that in you know it just it obviously depends on the east end of feeling but the market is but also you know i mean best had a little faster to get it get.

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"crude oil" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:56 min | 4 years ago

"crude oil" Discussed on Bloomberg Radio New York

"Now nymex gasoline is higher by more than two percent crude oil is falling one and a half percent here too have explain all this is steven schork he is the president of the shore group and he joins us now steven thanks very much for being with us so just briefly explain the divergence because on the surface it doesn't seem to make a lot of sense but i know it does well absolutely a hurricane historically tend to be very bearish for the stuck you put into the refinery crude oil and very bullish for the stuck you take out at a refinery that is a product and liquidity of course refineries now in the gulf coast epicenter the great majority of them now or could carry them i should say very arts cutting so when the refinery sets in her refinery if the only person in the world that actually by crude optical crude oil could have got much capacity right now shut in and right now the capacity that is linked to the new york market kill exchange one out of every four barrels refining capacity to be it now shut in put out the lot of crude oil that floating around here but the real big difference between minutes hurricane in the last hurricane that we saw in this region two thousand eight with hurricane icy and hurricane gustav would be reversal of a major pipeline back in 2008 we used to pay crude oil into the houston market area in ship it up to the middle part of the country it into the cargo market area we were worst pipeline in two thousand and tall tadao there's a lot of oil that comes from canada and from the upper mid west gone into the used the market could go to those refineries and then go to the export market should now with the situation of the refinery being shut in the cab boiled died oil the ports closed you can't export that crude oil we are now in the process of building a very large crude oil prices why we're seeing peeve a new bearish reaction in the crude oil market can berkeley good if you kept boil crude oil.

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"crude oil" Discussed on KBNP AM 1410

KBNP AM 1410

02:01 min | 4 years ago

"crude oil" Discussed on KBNP AM 1410

"They made we used to pay crude oil into the houston market area skip it up to the middle part of the concrete into the cargo market area we reversed i pipeline in two thousand and paul now there's a lot of oil that come from canada and from the upper midwest down into the used the market could go to those refineries and then go to the export market now we could situation up the refinery being cut in can't boil died oil the port clothes you can't export that crude oil we are now in the process of building a very large glut in crude oil prices why we're seeing the um barrick reaction in the crude oil market conversely if you can boil crude oil well you can't make gasoline diesel fuel and why those markets are rallying over the past few days right stephen that's fascinating i'm looking right now crude at a little bit less than forty six dollars a barrel are you a boat thinking that perhaps this price will go substantially lower should the closures of these refineries get prolonged for for several weeks for more yes i do because we also have to appreciate what time in the year we are we are now approaching the labor day holiday which now mean summer holiday driving in dover gasoline demand what about the paul regardless that means were also heading into the power october we could all maintenant and for the refinery so the refinery who are already starting to pera back purchases because they were going to go into maintenance and so when a refinery maintenance knock boiling oil if not buying oil dear poor what what to hurricane and if we keep prolong stoppages in in this or does stoppages are just going to roll over into the maintenance and so we could prolong the maintenance heated and a tremendous amount of demand destruction already on top what we experience so how low do you expect crude values to go in.

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"crude oil" Discussed on KBNP AM 1410

KBNP AM 1410

01:30 min | 4 years ago

"crude oil" Discussed on KBNP AM 1410

"Problem is that people don't know where the trend of growth is right now i mean i was struck their two point nine percent in two thousand and fifteen why did that slow to one and a half percent in two thousand sixteen it was a oneoff thing though an inventory adjustment and crude oil prices crashed well crude oil you know we're not going say the anymore drag from inventories crude oil prices that crisis that crash was over we've stabilized so theoretically growth should come back to two and a half percent without any help from the trump's economics team so i quote being a little too pessimistic about where is the trend of growth right now i think the run rate is close to two and a half percent with two point six percent last quarter we'll see what happens with consumer spending next week chris rookie think is coming it thank you come back when we just three point four lazio while you for the real election negative three on the futures dr futures the negative fourteen the vicks are really shows even proven to over the last two hours it was 17 change to three hours ago redoubt sixteen point seven five so even though we in a market adjustment to yesterday we've got common markets i would say right now we wanna wait on yeah has become a 109 nineteen we've got strong novilus 48 hours that we've comeback nicely who will 109 nineteen on in oil off the iaea report dampened west texas forty.

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"crude oil" Discussed on CNBC's Fast Money

CNBC's Fast Money

01:52 min | 4 years ago

"crude oil" Discussed on CNBC's Fast Money

"Has been in the past told you that he understands that the crude oil over the course of the next twenty to forty years is going to be a worthless commodity it will be supplanted by something else that will be a new technology and he intends to continue to put to supply crude as he can so opec as a as a force to be reckoned with i think that it's era is past a a little oversold yeah go ahead speaking just on on that point be all right this is also the crown prince who is is in charge of the aramco idea so while he knows that eventually this is going to be something that's worthless he still has a very good incentive to keep the price of oil higher now oh he'd like to keep the price of oil higher wooden he liked to sell aramco he wants to sell aramco to somebody else because he understands forty years from now aramco's probably worth less there's a reason why he's going to be selling aramco people don't take something public because they think it's going to go higher people take something public because they want to cash out and i think too many people would misunderstand what's going on there this is a very smart young man he understands what's happening crude oil and balances is is a demonstrable bear market we're going to get a bounce over the next week or two because we simply took too much out of the price in the course of the past two weeks but if you get a fourdollar bounce from the intraday lows to the intraday highs you have to be a seller this is still a protracted bullimore bare market and what people don't understand what i find amusing praise everybody seems to think we we come out or we crew crude oil prices are detrimental to stock prices it's absolutely the other way around weak crude oil prices are beneficial to the economy and beneficial to stock prices say they did that crew could actually man i mean aside from the shortterm balance equipment egregiously lower i'm not sure which me i agree just sleep it could that ben become a credit event which could milk the markets.

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"crude oil" Discussed on KSFO-AM

KSFO-AM

02:00 min | 4 years ago

"crude oil" Discussed on KSFO-AM

"The key to feeling better at any age this is exciting what is it what are we talking about why do you need to know about this will stay tuned dr neil levin is on the line here dr neil levin is a chiropractor he's a nutritionist he's a longtime advisor for purity products welcome doctor levin so great to have you back on the show today this is a big story isn't it oh absolutely he looked ready to hear that the governor you talked about it grew up their crude oil because crude oil is simply amazing for a great for the heart great for the joy for the brain to the people coming into my clinic every single day and they want to feel better i they wanna feel physically better stronger they want your point to feel comfortable but they wanted to be mentally sharp they want to keep their brain thinking like it did when they were younger they want to protect themselves from coronary heart disease and maintain a healthy youthful arteries for wonderful circulation they want to their energy not and we served an eco we're gonna be talking about here today with this cruel omega fifty plus which is the cutting edge combination steve of crude oil which is so fabulous for us but we in the crude oil no important we even crueller with the high omega three concentrated show you need to do that when you're dealing with cruelty crews an hiring freeze so many other important matters and virtues but you gotta get that homolka three fisher on air we don't matter this is now the best of both worlds but we didn't stop there for the fifty posters we did vitamin d we goebel antioxidant power steve we actually increase p monochrome seven percent so this now become the finest omega three nutrient in the world as far as i'm concerned this is very very exciting as cruel oil sensation i mean it is all over the news dr neil levin great studies are out there many experts are declaring that cruel oil is better than fish oil so give us the slow down on this cruel omega fiftyplus formula era tape.

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