berman, executive director of the american petroleum and convenience store organization. we represent a number of convenience stores here in san francisco. we support the attributes of what the proponents are trying to do, in terms of keeping tobacco products outside people under the age of 21. however, our methods are a little different. as the gentleman previous to me said, it's about regulation. we should have more enforceable regulations. we as retailers are on the front lines of age verification. we don't want to jeopardize our businesses for selling tobacco to anyone under 21. we want to be sitting at the table with policy makers to try and carve sustainable, realistic approaches to try to deal with this public policy dates. i'll give you two dates. 1920 to 1933. what happened between those two dates? prohibition. alcohol was banned. what happened during that? a lot of people enriched themselves. the black market. a lot of people died because of bathtub gins and a lot of things in america. this will create an illicit black market for these items in america. i'm will

american. that network has been done by one company. creole petroleum corporation. eole is an american company. an affiliate of new jersey. it operates exclusively in venezuela, making its headquarters. whose progressy is rooted in oil. this company conducts its business in the interest of the venezuelan people as well as its home stockholders. this is the story of an american business firm which has become an integral part of a nation's so-called and economic progress. a country of great national resources. only oil and iron have been tapped on a large scale. this story of oil must begin on this fabulous lake. even the history of the nation began here. successorshe modern to something that they explored -- when they found in 1499. the indians were living in houses on stilts, as some do today. , forthis came venezuela little venice. nearby on the lakeshore, oil seeps to the surface. indians were using it for medicinal purposes. it was to be more than four centuries before development of those oil resources really began. in the last early years, creole and other compa

let's bring in the cme and the report from the american petroleum institute, kind of a surprise. >> a very big bill. traders are still scratching their head. how the heck does this keep happening? to even have a name for it called the mystery barrels. over the last four weeks the energy information in ministration and the api have upped their forecast of current supplies in storage by over 28 million barrels. it means the undercut counted barrels before by over 20 million barrels. the traders are saying how is this happening? is not about demand. if you look the demand numbers from the reports today they are pretty darn good. u.s. oil demand is pretty much on par with where it was a year ago despite the fact that the country has been plagued by some very bad weather and flooding. there's a big question as to the validity of the data but if you don't know and you have to go with the data you have in the market went down. add to that late in the session the con is coming down to china worries about trade wars. bad day for oil. cheryl: big loss there. thank you so much. ashley: protests

american petroleum is reported 7.5 5 million barrels last week.t is double what analysts were expecting. they will wait and see what the u.s. government reports. their inventory report is out later today. this ratifies with the api numbers chapter. oil demand is rising. that could be because of more from drivers or stronger economic activity. it really suggests that u.s. demand is coming back. >> we have the ongoing geopolitical tensions between tehran and the u.s.. does this signal that prices may continue to go up? that is right. that is the backdrop for this. the u.s. iran tensions have contributed to the rise. there is a lot of concern about supply disruption out of the middle east if tensions between the u.s. and iran continued to summer and spill over. the other factor is the upcoming opec meeting. there is still a lot of uncertainty around that. a few weeks ago, it seemed certain that opec would extend their production cuts through the first half of this year. they are scheduled to meet next week in vienna. was alexander novak little hesita

supply data in the u.s on the one hand, private sector oil inventory data last night from the american petroleumd a bigger than expected drop in u.s. supplies a 7.5 million barrel drawdown and analysts looking for 2.5 million barrels of supply reduction. remember, we get official government weekly inventory data 10:30 a.m. eastern time today. prices also factoring in a bit the philadelphia energy solutions refinery outage given that explosion last week reports that it may look to permanently shut the refinery down so all of those oil prices, we'll see if wti can reclaim that $60 mark. back over to you. >> dom, thank you. >>> coming up, micron getting a big lift from its earnings beat and guidance is the worst over for the chipmaker? ing it stay tuned for an exclusive interview with the ceo. movement in treasuries this morning. we mentioned the ten year yield, back above 2% after yesterday, hitting the lowest level since november 2016. dollar is stronger as well "squawk on the street" will be right back through the at&t network, edge-to-edge intelligence gives you the power to see every corner of

private, foreign capital and engineering genius, much of it north american, and half that work has been done by one company, creole petroleumorporation. creole is an american company, affiliated with standard oil of new jersey, but it operates exclusively in venezuela, making its headquarters in caracas, a sparkling, modern city whose progress is rooted in oil. from its caracas offices, this company conducts business in the interests of the venezuelan people as well as its own stockholders. this is the story of an american business firm which has become an integral part of a nation's social and economic progress. venezuela is a country of great natural resources, but only oil and iron have been tapped on a large scale. this story of oil must begin at this fabulous lake, lake maracaibo. even the history of the nation began here, for these wells are only the modern successors of something the first explorers found when they entered maracaibo in 1499. the indians were living in houses on stilts, and from this came the name venezuela, for little venice. nearby on the lakeshore, oil seeps to the surface. those first explorers fo

the american medical association, american heart association and otherssed a climate agenda. ac advocates reducing the use of petroleum, and ng a carbon-pricing plan. on wall street, the dow jones industrial average gained eight points to close at 26,727.e sdaq fell 26 points, and the s&p 500 slipped five. and, two sports items. in the women's world cup, the u.s. beat spain, 2 to 1. they'll play france in the quarterfinals on friday. and, italy won the right to host the 2026 winter olympics. they'll be held in milan and the alpine ski resort cortina d'amstpezzo. l to come on the newshour: increasing the transparency of your medical bills-- what the white hous surprise costs. stop a wide-ranging conversation with former speaker of the house paul ryan. where the 2020 democratic presidential candidates stand just days before the first debate. a new middle east peace plan confronts the financial hardships faced by palestinians in gaza and the westh ank. plus, mre. >> schifrin: national polls show americans believe healthcare e ices and drug costs are their top pocketbook concerns. today, president trump took aim at hospit

petroleum communications. iranian officials calls it a big mistake saying it is contrary to international law. the regime making new threats to shootdown americansions have been rising since the u.s. pulled out of the 2015 nuclear deal with iran last year. today, the president called that deal a disaster and so far, iran has rejected trump's offers to talk. elizabeth hur, abc news, new york. >> concerns are growing over conditions at detention centers along the u.s. mexico border. firsthand accounts are being described as worse than jail and there are reports of infants sleeping on a concrete floor and drinking out of unwashed baby bottles for days and lights are on 24/7 and will is no soap or toothbrushes. they are placing children at increased risk for infection, disease and death. nancy pelosi say it's affecting children everywhere, not just on the boarder. >> i spoke to the president and said look, i'm a mom. i have five kids. children are scared. you're scarring the children of america, not just in the families but their neighbors and communities. >> these details emerging days after president trump pulled the plug on deportation rate raid

petroleum locations. iranian officials calling that, quote, a big mistake, saying it is contrary to international law. the regime now making new threats to shoot down american drones. >>> well, tensions have been rising since president trump pulled the u.s. out of that international nuclear deal last year, but so far iran has rejected trump's offers to talk. we're live in new york. i'm elizabeth her for abc7 news. ama? >> so far iran is saying no to negotiating. what is the reaction to these new sanctions? >> reporter: well, today referring to the new sanctions, iran's ambassador to the u.n. told reporters that iran is not going to be starting talks with anyone who is, quote, threatening or intimidating. he says iran simply is not in the business of succumbing to pressure. ama? >> all right, elizabeth her reporting live from new york. thank you. >> the supreme court today struck down a section of federal law that prevented the registration of trademarks seen as scandalous or immoral. the high court ruled the century-old provision is an unconstitutional restriction on speech and hands a victory to a los angeles-based fashion brand that goes by the name spell

occidental petroleum we all know what went on during that bidding war they got the asset carl icahn doesn't like they got the asset, but i think they're going to trade higher from here. >> joey. >> americanress. all-time high today. what a turn around i mean, i remember three, four years ago. >> costco killed them. >> talking about how american express, that was it it was an end of an american success story. >> i remember that day we were talking about it that day and it went through a lull for a while and then it had this great rebound. >> huge rebound. great place to be. little bit different than visa and mastercard they do more than just that transaction, but great company >> what do you guys make in the 30 seconds we have left, the rollover in the market dow is now down 60 came in on this big winning streak just sloshing around a little bit. >> turn around tuesday i don't know if it's a turn around, but i'm not surprised we're seeing it. >> a lot of folks were looking for that mexico deal to not happen and you were correct in calling that last week so, we made a pretty substantial jump and then it's kind of like, okay, now we move on to the next thing. >> take a couple chips off the