without escalation, petrobras says it's a different story. you are looking at a petrobras ship.y the ships are fairly protected. they rarely use the red sea for the cargo. but this area is a very "fragile" neck for the oil and gas business. many were not paying attention for that for decades, he says, but yemen is on what side and some i'll be on the other, a very oil rich part of the group. -- and somalia on the other. a very oil-rich part of the group. petrobras says ships have not been affected. it does not ship much oil through the gulf. but prices could go above $90 if there is escalation. he says oil should continue trading between $70 and $90 this year. capital's john kilduff says known of the actors want a full-blown war -- none of the actors want a paul:. some breaking news on the bloomberg. retail sales out of australia. a contraction of 2.7%. we were expecting a contraction. just not that big. 1.7% was the analyst view. big reversal from the expansion we saw in november. it does suggest a lot of households frontloaded their holiday season shopping and tightened the be