amrita: a lot depends on china. think china is more 2023 because the supply tightness really has the embargo kicking and by the end of the year and that is potentially when we are looking towards the u.s. and european recession. china does open up and you see -- if china opens up and you see it ease, it will not be as severe the west. i think you can have a mild recession. prices that will -- will then continue to remain quite high. anna: amrita sen, energy aspects director of research. thank you for joining us. this is bloomberg. ♪ ♪ anna: this time for the bloomberg business flash, some of the biggest business stories in the news. ritika: the world's largest truck makers has the semi-conducted -- conductor shortages easing. the situation is not perfect but better than last year. other truck makers had to curb out strong demand because they could not obtain enough chips. the crypto business run by billionaire brothers cameron and tyler make its first-ever.com. there slashing 10% of its staff as trading across the i

amrita: look.balances necessarily turned out to be exactly what we have forecast after the russian invasion? no. russian supplies are hitting the market, probably about one million barrels a day or more than what we expected. they are down about one million barrels a day. we have had the spr. at the same time, demand is coming in higher. the market is incredibly tight, despite some moving hot. underlying inventories are so low, bare capacity is so low, you only need a little bit of movement, such as libya going off-line a couple of days, and swing balances from being solvable to unsolvable in a matter of hours. what we are seeing is the fear of a recession turning people to doubt the demand recovery and say, we have got the spr barrels, but if demand does not keep up, prices go down. we tend to get solvent to hedging at this time, large producers in north america, even asia, that has started. it is a loan liquidity environment. take away the fundamentals, there will be downward pressure on prices i

what was interesting is we were below $110 let's talk to amrita sen number one, it did, amrita, cometoday these are all moves that are difficult on a dpaily kbasis to try to figure out what is going on what is the current situation with supply and demand maybe there is demand concerns with the fed getting in here actively >> yeah, that's what it is the concerns with changes on the ground we have not seen anything yet. anything with the preliminary numbers in asia or europe. strong numbers on diesel and gas demands. remains strong jet fuel demand. the demand can be satiated we s have so many flight cancellations due to labor the market is scared of recession given fed hikes and the fed hiked by more than what it guided to the kind of thinking is that fed will have to get interest rates to levels that are so high that we have to go into recession in order to control inflation that is very much what guided that move down on friday which was a clear sign there wasn't a lot of liquidity in the market we are factoring a mild recession the second half of next year. we shouldn't under estima

that is the theory we heard from amrita sen, china is important to the american recession discussion. lisa: we are seeing a kenne constructive nests in markets. how constructive is the nasdaq the way perhaps trying to find a bottom after a massive bear market, up .9%? s&p futures up .7%. the dollar, all over the place. it is got a strength versus the euro, the euro declining 105. yields lower, this i find fascinating at a time when so many are expecting the to come out and aggressive. we are seeing a rally into bonds, perhaps saying the market is going to weaken before the fed has to go. tom: has there been much curve steepening? the answer is no. atlanta gdp is 0%. i think it is hugely fluid right now. lisa: looking at crude with a little bit, but it is early. it is early to use the r word, jeff, what is your view as far as whether we have gotten overblown with the calls for the r word? >> it is overblown to some extent. that is in mind, the s&p, the nasdaq, that is not the entire u.s. economy. i do not think it would reflect what mainstream fields as well. on that side, on the suppl

natural gas prices, we just discussed this with amrita.e again is what russia is doing with the lack of supply of gas to europe, and that limits the ability of europe to increase storage going into the winter, so that is pushing up natural gas prices here in europe. prices down by 7.7%. bitcoin has been on a really wild ride over the weekend, down by as much as 16% during saturday's session, prices now jumping back up to over 20,000. guy johnson has been -- well, is joining us now for an exclusive interview with the jetblue ceo robin hayes. good to speak to you. guy: thank you very much. let's dig into the conversation. robin, there is so much to talk about. congratulations on your status as chair which has come to an end. let's talk about what is happening in the travel industry right now. everyday we are seeing problems being caused at airports, they might be weather-related, but they are all staff related. robin: it is great to be here and great to have everyone together. the aviation ecosystem is still, as you say, suffering from the s