28 points, brent. >> brent: this might not make it. might not get back but i got to tell you something, i have been around many teams that have played their hearts out like this down 35-0 in the first quarter so that matter what happens here hats off to them. >> jesse: adds to the legacy of this great, great rivalry, doesn't it? >> brent: it sure does. >> jesse: the holy war. i wish more college football fans knew about it. rivalries like this. >> referee: after review the ruling on the field is confirmed. touchdown. head-on look from the back of the end zone that shows his knee doesn't touch. better angle to show the football breaks the plane. this has been awesome. >> brent: trevor samson tacks it on. a one-score game. let's check in with john saunders in the studio. big john. >> brent, you'r providing excitement once again as expected. meanwhile, we have ohio u. against app last state, lam picked off by poling taking it back for a touchdown. and we'll continue to update that one. meanwhile, you can see arizona hold on for the victor

28 points, brent. >> brent: this might not make it. might not get back but i got to tell you something, i have been around many teams that have played their hearts out like this down 35-0 in the first quarter so that matter what happens here hats off to them. >> jesse: adds to the legacy of this great, great rivalry, doesn't it? >> brent: it sure does. >> jesse: the holy war. i wish more college football fans knew about it. rivalries like this. >> referee: after review the ruling on the field is confirmed. touchdown. head-on look from the back of the end zone that shows his knee doesn't touch. football breaks the plane. what a game. this has been awesome. >> brent: trevor samson tacks it on. a one-score game. let's check in with john saunders in the studio. big john. >> brent, you're providing excitement once again as expected. meanwhile, we have ohio u. against app last state, lam picked off by poling taking it back for a touchdown. and we'll continue to update that one. meanwhile, you can see arizona hold on for the victory. brent, b

brent: i got my own. >> i love it. brent: congressman... ible] >> state senator... . >> sometimes you don't have to win the caucuses if you come in good second or third and no one expected it, that gives you a boost. brent: congressman david, paul. any candidate who is seeking it to earn the awesome and sacred trust of the people of the united states has to come in with the people of iowa. brent: newt grin gritch... senator joe leiberman. [indiscernible]. at the end of the day brad pitt would be president of the united states. >> [indiscernible] brent: i see you are wearing a big h button. how do you think your candidate did tonight? >> commander and chief, no doubt. i thought they all did very well. it was a good animated strong debate. i am proud of the democrats, but i am glad i am with hillary clinton. i think he proved she knows where to take the country. to be simple if you want to convince people where you want to take them, you got to know where you have been. successor clinton has been our secretary of state. she's been our senator

28 points, brent. >> brent: this might not make it. might not get back but i got to tell you something, i have been around many teams that have played their hearts out like this down 35-0 in the first quarter so that matter what happens here hats off to them. >> jesse: adds to the legacy of this great, great rivalry, doesn't it? >> brent: it sure does. >> jesse: the holy war. i wish more college football fans knew about it. rivalries like this. ruling on the field is confirmed. touchdown. head-on look from the back of the end zone that shows his knee doesn't touch. better angle to show the football breaks the plane. what a game. this has been awesome. >> brent: trevor samson tacks it on. a one-score game. let's check in with john saunders in the studio. big john. >> brent, you're providing excitement once again as expected. meanwhile, we have ohio u. against app last state, lam picked off by poling taking it back for a touchdown. and we'll continue to update that one. meanwhile, you can see arizona hold on for the victory. brent, back

28 points, brent. >> brent: this might not make it.ht not get back but i got to tell you something, i have been around many teams that have played their hearts out like this down 35-0 in the first quarter so that matter what happens here hats off to them. >> jesse: adds to the legacy of this great, great rivalry, doesn't it? >> brent: it sure does. >> jesse: the holy war. i wish more college football fans knew about it. rivalries like this. >> referee: after review the ruling on the field is confirmed. touchdown. head-on look from the back of the end zone that shows his knee doesn't touch. better angle to show the football breaks the plane. what a game. this has been awesome. >> brent: trevor samson tacks it on. a one-score game. let's check in with john saunders in the studio. big john. >> brent, you're providing excitement once again as expected. meanwhile, we have ohio u. against app last state, lam picked off by poling taking it back for a touchdown. and we'll continue to update that one. meanwhile, you can see arizona hold on for

28 points, brent. >> brent: this might not make it. might not get back but i got to tell you something, i have been around many teams that have played their hearts out like this down 35-0 in the first quarter so that matter what happens he hats o off to them. >> jesse: adds to the legacy of this great, great rivalry, doesn't it? >> brent: it sure does. >>esse: the holy war. i wish more college football fans knew about it. rivalries like this. >> referee: after review the ruling on the field is confirmed. touchdown. head-on look from the back of the end zone that shows his knee doesn't touch. better angle to show the football breaks the plane. what a game. this has been awesome. a one-score game. let's check in with john saunders in the studio. big john. >>brent, you'reroviding excitement once again as expected. meanwhile, we have ohio u. against app last state, lam picked off by poling taking it back for a touchdown. and we'll continue to update that one. meanwhile, you can see arizona hold on for the victory. brent, back to you. >> br

28 points, brent. >> brent: this might not make it. might not get back but i got to tell you something, i have been around many teams that have played their hearts out like this down 35-0 in the first quarter so that matter what happens here hats off to them. this great, great rivalry, doesn't it? >> brent: it sure does. >> jesse: the holy war. i wish more college football fans knew about it. rivalries like this. >> referee: after review the ruling on the field is confirmed. touchdown. head-on look from the back of the end zone that shows his knee doesn't touch. better angle to show the football breaks the plane. what a game. this has been awesome. >> brent: trevor samson tacks it on. a one-score game. let's check in with john saunders in the studio. big john. >> brent, you're providing excitement once again as expected. against app last state, lam picked off by poling taking it back for a touchdown. and we'll continue to update that one. meanwhile, you can see arizona hold on for the victory. brent, back to you. >> brent: you are look

28 points, brent. >> brent: this might not make it. might not get back but i got to tell you something, i have been around many teams that have played their hearts out like this down 35-0 in the first happens here hats off to them. >> jesse: adds to the legacy of this great, great rivalry, doesn't it? >> brent: it sure does. >> jesse: the holy war. i wish more college football fans knew about it. rivalries like this. >> referee: after review the ruling on the field is confirmed. touchdown. head-on look from the back of the end zone that shows his knee doesn't touch. better angle to show the football breaks the plane. what a game. this has been awesome. on. a one-score game. let's check in with john saunders in the studio. big john. >> brent, you're providing meanwhile, we have ohio u. against app last state, lam picked off by poling taking it back for a touchdown. and we'll continue to update that one. meanwhile, you can see arizona hold on for the victory. brent, back to you. >> brent: you are looking live at the royal purple loil and

brent: thank you. looking to get back on track after suffering free losses in a row in all competitions. a game packed with action and goals on sunday. >> he was hoping for an easy game as they looks to bounce back, but they had a dreadful start at home. first, they gave them the lead after 28 minutes. and then, a midfielder was red carded for violent conduct. the wholhome team came back, and made sure to go into the half one all. they made it two all after the break to set a thrilling finale. oscar grant the win four minutes from time. a remarkable result, given they had been down to 10 men for some time. now up to fourth. brent: two astronauts have wrapped up a spacewalk outside the international space station in preparation for wednesday's rendezvous with a russian supply caps off. scott kelly and tim were scheduled to spend three hours repairing a rail car, which is jammed in place. they were able to move the car back to its storage location, freeing the move for the supply mission. this is dw news

brent has your sports. brent: hopefully with some cleaner air. asia's championship -- the welshman johnson remains in the lead. shots like this one on the seventh hole lead donaldson to 13 under par. trailing by two strokes a german golfer who had the best days performance. the winner will take home one million euros. before we let you go, a reminder of the top story we're following for you -- france says it is confident and agreement will be reached at climate talks in paris. that after the conference was you are up-to-date with "dw news " in berlin. i'm brent goff. thanks for the company. we will see you in about 30 minutes. >> this program is brought to you in part by c-i-e tours international; for over 80 years featuring all inclusive tours and go as you please value vacations throughout ireland and britain, cietours.com. ♪ ♪ >> patricia: hello and welcome. i'm patricia o'reilly and i'm delighted you could join us for another edition of "out of

brent: hi, partner. garvin: not sure if they had saved one life, brent now knows he and his crew saved two. sadie brought the whole family by brent's station recently to say thanks one more time. brent says becoming a father himself almost a decade ago has made him a better firefighter, better at understanding what's at stake on each call. it's why perhaps brent broke down in tears in the middle of that starbucks, knowing he not only made the right choices that work day, but frankly all of his work days. brent: it's the greatest job in the world. i don't know what else to say. i mean, i love it. garvin: our next story involves different types of generosity, all from the same man, and all to benefit the tiniest and sickest of children. cornell: i can prove to you that i was once young. garvin: over the course of any single life. cornell: a lot of people don't think i ever was. garvin: one is bound to have lived multiple lives. cornell: that's a b-24 bomber there. garvin: in cornell maier's 90 years on the

brent: i am brent goff. it i good to have you with us. as if he himself were running for office, u.s. president barack obama on monday amid heavy rounds of rhetoric, saying the u.s. and its allies are hitting ice is harder than ever. the president is a commander-in-chief under fire, answering critics who claim he has gone soft against the terrorists. after a rare meeting with his national security council at the pentagon, obama said the military's hitting i.s. with an increasing number of airstrikes. he also announced he will be sending his secretary of defense to the middle east and russia to bolster international efforts to combat i.s. now come in his comments, obama struck an uncharacteristically aggressive tone and had a clear message for i.s. leaders. take a listen. president obama: we are going after isil from the stronghold in downtown raqqa to libya, where we took out the isil leader there. isil leaders cannot hide. our message is simple -- you are next. brent: let's pull in our correspondent richard walker. he has been covering t

brent: a small, incremental step. what has changed is that the pentagon is saying that you have american forces that can act unilaterally. that is new. it isn't that complicating the mission even further from a military standpoint? >> it is complicated because we have so many states that want to pursue different interest. once important is to coordinate the military action on the ground and embed the political strategy that can work. germany is not thinking about forces on the ground, for example. brent: the opposition says there is no political strategy. known can tell you what it's going to happen if coalition forces come face-to-face with a sod. no one is going to tell you that there is a guaranteed answer to the question. what will happen to him? >> nobody can forecast the exact outcome but they can do the military action that is absolutely necessary to destroy isis at its power center. it can work. and what we have seen is that the international support group for syria has made efforts so far, the first time in t

brent: two financial markets. hear there is a really going on. >> it is the eve of the fed decision and it looks like we will have the first rate hike in almost a decade. oil prices are turning around. financials are up. banks are expecting more income from higher interest rates. janet yellen's meeting with her team. they are expected to announce an end to easy money. the fed has been near -- the interest rate has been near zero for nearly a decade. what about europe? it has not fully recovered from the great recession of 2008-2009. >> the federal reserve may be true thinking about a rate hike -- maybe thinking about a rate hike, but not to the european central bank. the economic recovery is still fragile. >> we need to ensure that the recovery become self sustained, particularly given weaker external elements. it is essential that policy remain focused on structural reforms and sustainable growth. reporter: the crisis lingers on with recurring symptoms. banks in europe barely have financial cushions to keep afloa

brent: welcome back. out of story this hour, the racks on forces are storming the western city of ramadi -- iraq's armed forces are storming the western city of ramadi. the fall was a major defeat for the government in may, but i.s. has lost a lot of the territory controlled since the beginning of this year. now to a legal case in china reveals the state's strong hand against dissent. one of the most outspoken critics of the chinese government, and one of the most prominent defenders of human rights has spent the last 18 months in jail arrested as the president launched a large-scale crackdown. it leaves his career in tatters. >> supporters voiced their opinion outside of beijing's number two intermediate people's court. police do not want them to be found. he has been on trial for comments he posted on a microblogging site. his supporters call it a travesty of justice. >> he is innocent. he is innocent. he did not commit any act. he just said words. which words are wrong? if there is a legal basis to reg

brent crude dropping to its low. brent is below 37 at $36.50. wti still below $35.r 30 cents to $34.42. big oil benchmarks have now fallen by more than 2/3 since the middle of the year whe

brent ahead of opec's report. crude traded at your parity to brent. the global glut has led to speculation and contracts that will pay out even if crude drops to as little as $15 a barrel next year. bloomberg's chief energy correspondent is here and alongside him is simon french. as we head towards the end of the year david:, we are seeing -- how interesting it is that wti is closing in on brent? >> for the past five years, brent has been trading at a significant premium. now that we are beginning to see science that u.s. production is gnslining -- see si that u.s. production is declining, a bill that is going to allow exports of u.s. crude into the global market, we have seen more pressure. this has been a very popular trade, particularly among hedge funds. it is one of the highlights of the year. we will see in 2016. i think wti is going to be very close to brent. hard to find an asset class in 2013 that has not been impacted by the oil price route and the global -- the oil price rout and global commodities problems. if you look at the u.s. gdp esti

brent hits a level last seen back in 2004. a red card. platini band this morning. ♪ guy: good morning. welcome to the pulse. we are live. iambic guy johnson. caroline hyde has an update on what is happening on the markets. a surprisingly busy session. caroline: grinding higher across the board. political risk is dominating the front of every traders mind when it comes to spain. stocks and bonds, -- stocks and bonds down today. this ibex 35, clear underperformance. making up all of those losses we saw on friday. i'd ask shopping -- ibex having its worst day. every industry group is tainted. real estate companies trading lower. does utilities -- , elections. can they get together some sort of majority? we are entering uncertain -- uncharted political territory. they're up 13 basis points. they were up 18 basis points. daily, foreign costs rising. concern about the political stability of spain. interesting though, keep an eye on oil. it is always on our perspective. this is 2004 for you. it is down phenomenally this year. $36 per barrel on b

the picture of brent oil, sliding to an 11 year low over the last session. 36.39 on brent right now.f the arab opec countries in cairo over the weekend. we see the oil price continuing to trend the lower and this morning's training session. the iraqi oil minister saying -- they are set to increase. any tot -- any kind of timescale. let's have a quick look at the futures to see where they are opening up. it looks as if we are going to have a slightly negative start to the european trading session. we will be lower at the start of the european trading day. skip the first word news with nejra cehic. nejra: spain faces uncertainty yfter prime minister reportedl lost his majority and an election. even if it beats out the socialist and earns the most votes. we are monitoring bonds at the open. brent crude has fallen to the open intraday level since july 2004. that is amid speculation that supplies exacerbate a record let. prices are down. set for a third straight annual loss. iraq's oil minister says oil will bounce back because the current price is hurting producers. he did i say when tha

if there were any head coaching rumors out there involving brent venables, he squash those today. in south florida, brad fralick wyff news 4 sports. ricardo: just three days away from the orange bowl, and just two days away from our hour long special, "road to the title." myself, brad, and marc dopher will get you ready for thursday's game. join us wednesday, at 7:00 p.m. the shot at an undefeated regular season ends in game number 15. the carolina panthers lost to atlanta sunday, and suffered their first regular season setback since november 30th of last year. but fans certainly showed their appreciation for the team's 18 game regular season win streak. upon their arrival from atlanta last night outside bank of america stadium. head coach ron rivera said he was disappointed in the missed opportunities after watching the tape of the game. the panthers can still earn the number one seed in the nfc with a win over tampa bay sunday. the game will kick off at 4:25 p.m. south carolina remains the only undefeated men's and women's teams. the gamecock women remain number two in the lates

brent: there you go. >> i am going with it. brent: we are here at decay university the democrat debate. >> i am supporting secretary clinton. brent: why is that? >> i think she has the kind of strength we need as a leader. she pointed out a president is also commander and chief. i think she's shown great depth in the economic proposal she's made. one thing that gets lost in this

jonathan: let's use the brent curve. belowthe brent curve back $65. guy: we are not going anywhere in a hurry. the supply story is not going to get undone. demand.got a lot of let's pick it up and get it from a different angle. what is happening in today's show. let me walk you through. ceo concerned about investment cuts. tacklees $40 crude mean --? we will an update from the middle east. seem to bel, dupont in late stage merger talks. ♪ china's consumer inflation picked up last month, meanwhile the pboc that the yuan's ravens rate -- reference rate. malcolm, great to have you on the program. inflation story, where are we tackle -- where are we? malcolm: we've got the consumer side holding up. services holding up. services up 2.1%. on the producer side. the commodity fallout is playing out at the factory level. into price for oil and left as input price for some of the raw materials are plunging. that is what is leading the ppi inflation. -- it is a quick turnaround but there could be a wash through. we have some economists expecting epi -- ppi defla

strength or brent weakness?> that is a brent weakness because certainly wti is not strong. couple of weeks since the opec meeting what we the persiansow will fight one another for market share. where is this market share? all the growth is in asia. china is in the midst of quantitative easing. they have cut interest rates six times in the last 12 months. the rd evaluating their currency. -- they rd evaluating their currency. then you look at japan, in its fifth recession since 2008. fightingsaudi arabia one another for market share in a market that clearly is sick at this time. here in the united states -- excuse me. like it is also a demand story and a supply story. do you see it like that? is the weakness justified? >> there is a major demand issue. when you add on top of that, you have a u.s. marketplace that is significantly over supplying, and you have inventories that are quite high, there is a lot of crude washing about. alix: both of you bring up the fundamental, supply, demand, oversupply. what part of

my first reaction was like i want brent and i want pfpfer, brent gets me to 400, he has allergan, particularly when the balance sheet gets better from the money or prop 7 acquisition of your own. why do i like this deal more than brent allergan? >> i think a great opportunity for our shareholders. the way i like to think about it, it is taking our growth far ma engine and putting it on a larger chassis called pfizer. look, we could have gotten into 400 on our own but this takes us well beyond that for the foreseeable future. and so the deep pipeline of pfizer, the combination of the global footprint and the strength in areas like immuno and vaccines makes this a powerhouse in biopharmaceuticals. >> your franchise, aesthetic, dermatological, gi, women's health, unassailable franchises. why would i get excited about pfizer's vaccine business or cancer business i see such great growth and, by the way, i see the incrededle, you know, the proposals that you do about the way you grow pharmaceuticals, so different from traditional >> yeah, but look, ian reed the last four years has done a remarkable

brent around $36 or so. brent having hit its lowest level in more than a decade on renewed concerns of oversupply. brent futures heading down to 36 bucks a barrel as said the lowest level since the summer of 2004. so we're really looking at these, this big repositioning happening in oil. there's this worry that we're heading towards a real oil glut. you've got iranian oil supplies coming onto the market this year. opec of course removing their previous ceiling. the saudis not moving to change anything for the time being. >> then you've got other technical factors. you've got the stronger dollar, for example, and it surprisingly rose throughout last week even though we got the fed hike. a lot of people were positioning for a selloff on the dollar on the back of that. what we saw this morning and that's what you alluded to just now, we saw brent below that 3620 level at 3618 in the asian trading session. that took us below the financial crisis low of 2007. it took us to the 2004 low. we've bounced back above t

brent is down about 2%.y who was hoping the opec meeting in cairo over the weekend might help oil prices, that has not happened. 1.086.o dollar is at to four resulted results of the spanish election. howhe spanish markets just long it might take to put together a coalition and how stable it will end up being. let's go to caroline hyde. we are in uncharted political territory in spain. this is pulling down spanish stocks. we are focusing on one. across the board, the ibex is having its worst day in more than three months. that political instability affects this significantly. to the past few decades. nearly every single stop is lower in spain this morning. --ng the bonds fall and now you have seen the bombs fall and now these stocks are falling. we have u.k. speculation in the air. giant,, the u.s. pb could be weighing a bid. that considerations could be going on, but comcast is a huge player. it has to be taken seriously. up 7%.le, ericsson is with thell to do dispute over the mobile device patents. cane two

a heck of a job by defensive coordinator brent venables... who's getting looks from other schools... is he looking to leave? the answer to that and coming up a little later... 3 cody, back to you. 3 and don't forget to tune in this wednesday for "the orange bowl preview."aaron cheslock will have in-depth analysis and one-on-one interviews with the tigers in miami.it all kicks off wednesday night at carolina. 3 and for all your clemson updates - check out fox carolina dot com.we have a special section devoted to all things tigers leading up to the orange bowl. 3 kendra has the forecast forecastit's going to be a rainy night, and that could spell flooding. i'll have details next. next.plus - a greenville county woman says she was terrified when deputies came into her home, after she called ems.she didn't know why they showed up .... and wants to know her rights. rights.and four people are locked up- tied to the kidnapping of two young boys in asheville- today, we learned one suspect is accused of being paid for her part in the abduction and fox

brent crude, you have the chart up.hing with $40 and we dropped below $40 for the first time since february 2009. we are up this morning. let's call it stabilization. dollar-yuan a really interesting story. that pair right there is a 2011 high. euro-dollar back through $1.09. guy: it has been a fascinating 24 hours. maybe we can call it the calm after the storm. let's talk about how we progress from here. let's welcome wayne bowers, that is what the miners did yesterday. ak.is the ceo for amp billion.oversee $870 miners got crushed yesterday, brent oil is sub 40, is that changing your paradigm? >> the commodity move down has been significant. everyone is focusing on the negativity. especially for the miners. but whether it is antarctic research, north sea, deep-sea oil, there has been a significant cut back in terms of planned expenditure and actual expenditure. of thedon't lose sight positives for reduction and oil and energy and commodity prices as well. for certain regions that need help and need stimulus. japan and

brent, 42's .70.on oil and iron welker toew lows as we'll continue the discussion on economics, finance, investment, and international relations. jon ferro and tom keene. "bloomberg surveillance." ♪ jon: good morning from the city of london. up 200 points. at the time of the morning, let's get to ramy. made a nationally televised speech to discuss terrorism sunday. he defended his current strategies in the battle against islamic state as well as domestic attacks. he called the san bernardino shootings a new face in the fight against terrorism. while he offered no new policies, he repeated his call for tougher gun laws. last night i speech is only the oval office. is chicago police department the focus of a new federal investigation. the department of justice will launch a wide-ranging civil rights probe this week. the killing of a black teenager by a white police officer last year has sparked new protests. worst inflation called for a new order yesterday. the opposition party took control of the legis

up again.ot back brent crude is the same way. big dip, a big recovery, then a bigger dip in recovery. the spread between brand and wti has been getting tighter. this is over the past five years. you can see there was space here until about the end of 2014. now, the spread and correlation is incredibly tight and close. brent has become the world benchmark, but we still look at wti. betty: what about natural gas? matt: natural gas had a huge drop yesterday. we saw it come down this morning as well. must be a different future. we saw it come down a little this morning and it has recovered with oil. the markets have not recovered completely. oil anddown before natural gas this morning, but we have moved down more fantastically. we have not completely recovered , still down 1% from yesterday. the dow was down 250 points earlier this morning. it has recovered to a loss of less than 100. we have seen some movers on natural gas and oil. the oil movers are recovering a little. southwestern energy is down 1.5% . interesting news on devon y

brent currently trading up 1%. , wti in thed brent u.s. managing to gather a bit of steam ahead of production numbers from the u.s. today and some of the overall concern about the inventories they have. meanwhile, you've got opec coming out later today. what will they say about prices and production? i want to show you one mining stock that is really on the up-to-date. , this is atal fascinating story from the united states. arcelor mittal jumping today, the best performer on the european stoxx 600. taxu.s. is proposing a 256% on some chinese imports. this is what a u.s. producer is saying, the legal counsel of nucor, saying this tax is being fought through by the united states. many producers saying there is dumping happening, cheap imports, hurting domestic production. could we really see a 256% tax in the u.s.? caroline, thank you very much indeed. the pboc in china has posted a note on its website, confirming that we will see an extension of onshore yuan trading. the close will be at 11:30 p.m. that now being confirmed this morning by

bears remain in control, brent oil sliding to an 11 year low. political uncertainty in spain.wo-party dominance, giving power to some newcomers. now that washington has extended a tax credit for solar energy, is it time to warm up for solar stock? marketead over to the desk ramy inocencio has the latest on the holiday week. markets started in the green but now the dow is losing steam. the s&p 500 is up by only about a quarter of a percent.

what happens with the price of brent? these things equate to gather to generate inflation expectations. if you don't know those two things how do you set policies for the next few years? >> it is one of the quandaries and it is another reason we are stuck reading tea leaves. when you think about what we just heard and think about energy prices, two or three years ago, with we have ever said a decline of this magnitude could be a negative, could be a challenge? we would have said, what a drastic help to growth. we have seen in some places. it has helped in the u.s. and places like india,, where from a growth perspective they could easily be the fastest-growing economy in the world. a lot of investors have interest. when you think about it from a central banker's perspective, it is a challenge for the u.s. it is something that could stimulate the u.s. consumer and could lead to inflation and some challenges terms of the pace of change. the amount of energy infrastructure has made it more important in of the u.s. economy tha

matt: we are seeing brent fall below $40. brent and wti are at february 2009 lows.look at west texas intermediate oil here in the u.s.. overseas, brent is more used as far as the actual product is concerned and far as the trade as well. brent is what europeans look at and it's now at $30.98 a barrel. very interesting that oil prices over the last half hour have collapsed. a real problem for the venezuelan economy as well as many others. andreason is that venezuela iran and other countries cannot get saudi arabia to agree to its productions dealing on oil. stephanie: we'll cover that throughout the hour. thank you very much for joining us from "bloomberg intelligence." next, i'm so glad there are two tall guys you me. mice was of interview with dwyane wade. -- mike's was a vanity with dwyane wade. y exclusive interview with dwyane wade. look at this. maybe we lower the basket. recommend mentioned. we'll be right back. ♪ stephanie: you are watching "bloomberg ." i dwyane wade is not just known for skills on the best ball court, but for style and business. i decide

my favorite chart of the day early this morning, wti and brent converge. now wti and brent invert. for the first time in about a year, we have seen the price of west texas trading higher than brent crude. let me ask first of all what you think of that in version there. gamutbecause the saudis has worked and u.s. production has fallen? years the u.s. has been leading the world in oil supply growth. a result, constraint pipeline infrastructure, wti has traded at a discount to essentially the rest of the world. is not growing, u.s. supply has been shrinking since march, and it's going to continue to shrink through 2016. with that in mind, it's perfectly logical that the two halves converged. you might see wti trade at a premium. earlier today we were talking to amos from the secretary of state energy envoy and he was talking about the export ban being lifted. will that affect the price action? at all? timing on lifting the export ban is perfectly ironic. they are doing this right on the cusp of a year when u.s. oil going to increase for the first time in a decade. this would have been

in the commodity market, brent crude at $37 a barrel. $34.94. for the rest of your day and have a fantastic christmas and happy new year. ♪ francine: the u.k. prime minister sees halfway to our form deal. european meters -- european leaders meet to discuss terrorism. the chinese bank book tells a tale of worsening conditions while other data suggest recovery. the force to be reckoned with is the franchise looks to make $2.4 billion for the studio. so, welcome to "the pulse" live in london. i'm francine lacqua.

this comes as brent hovers near these 11 year lows. jackie has more. >> crude oil prices breaking their recent win streak to settle more than 3% lower today. wti finished at $36.81. brent continues to trade under wti. that's a phenomenon to watch. we see brent trading at a premium but now it's fallen out of favor. santa claus rally leading us into the holiday. leading us into a long weekend. that's not something traders were thinking was abnormal. today's selling was a reality check. nothing really changed when it comes to the kcrude oil story. a deficit of nearly $100 billion. the revenues were lower than expected and spending was higher than expected. they're really feeling the pinch from lower oil prices. we know it's not just saudi arabia but other opec producers as well drawing a line in the sand saying they'll endure the environment of lower prices holding on to market share but it doesn't mean that it's not coming without a cost. if that remains the case and nothing changes this could put more pressure on wti prices. traders tel

so brent down 30 to 35% since january of last year as seen here. well, 39% even for brent. almost 40%. commodity prices softening across the board this year and precious metals they were no exception. gold and silver prices declining by around 9% making the two metals 2015's topper formersor the least worst performers. for more on the topper forming assets around the world this past year head to our website cnbc.com and asking also what's your top trade. worldwide@cnbc.com. i'll read as many tweets as i can later on in the show. i'm so surprised all of you were awake out there. i thought nobody was watching but you are. i'm really surprised. it's christmas. 2016 is likely to be another year of moderate global growth according to ubs's global macro strategy outlook. the euro zone will be out performing while china's growth rate will continue to fall. he's the global macro strategy head at ucb. welcome. >> thank you. >> how are you? merry christmas. >> thank you. i'm getting festive by the minute. >> it's all inside. calm and collected on the outside. inside a bag of beans. w

wti crude and brent up around a percentage point or so.ose to each other. $36.46 and 36.48 for brent. a bit of a switch. >> wti trading above brent for the first time in four years. >> spot gold flattish and same for silver. royal dutche shell with a break even. it expects the combination to be cash flow in 2016 with brent prices at $50 barrel or higher. also announcing a further $5 billion cut to spending. steven is still here. i think i said that in new zealand they indicated they weren't going to cut rates but they are. they're indicating that they might cut rates more. that's what i meant to say and they have a 2.5% rate now. do we think this is going to hurt more given that you have oil prices heading lower and you have the potential to move even further down as well? >> there's a couple of points to make here. china is super important and what's going on in china is that the economy is changing away from very strongly manufacturing focused economy that's good for the chinese economy. not great for commodity prices. we tend to think t

brent crude is currently trading .own, 1.6% as you can see, brent crude has made it above the $14 barrelk at this stage. the vti, meanwhile, is also down, also coming under pressure , catherine, trading well below the $40 a barrel mark. the volatility in oil prices has put a damper on global stocks this tuesday, as i said earlier. beyond energy-related shares, mining has also been in focus, this comes as anglo-american has announced it would suspend dividend payments and shed tens of thousands of jobs. it and other mining comedies are struggling with the downturn in commodities prices. reporter: scaling back big time. anglo american, the world's fifth biggest mining group, announced major changes for investors on tuesday. shares have plunged 70% this year, and the enduring commodities lump is forcing anglo american to suspend shareholder dividends for the rest of 2015 and all of 2016. it fell 60% of its assets, mines that are no longer turning approximate meaning initiating 85,000 jobs around the world. finally, from six divisions, anglo american will now be made up of three. de beers fo

>> so but it still doesn't answer the question, brent. think he will start spending this kind of money? should this tell us something about his campaign or should we be predicting about how this will effect the campaign? will it help it? >> honestly, i don't think he is going to. he doesn't have to. he is playing the press like a fiddle. he is playing off of y'all like a fiddle. i've got to say this. he says this because it is going to be nonstop coverage. him saying that he is gooding it spend money on advertising. for a politician to say that, that's like a reporter saying, i'm going to write a story. there's no there their to that statement. but he does it because he know every reporter will write it about it for days. he is giggling right now. >> it is not like they are just talking about some candidate out there. he is the leading candidate. polls still she that gop primary voters is still largely in favor of him being the candidate. but you are predicting -- >> judith is right. >> go ahead. >> judith is right. if he is getting 27% o

down by 60 at the moment -- the brent curve.that people are getting a very wrong all over again? john: it really isn't possible to say. i think like this. theave 17 years -- in 1990's, it averaged in real terms about $35 a barrel in brent. we have also observed another era where price of oil of $100 allowed everyone to do everything a little recklessly. so, somewhere between the two has to be probably the answer. i have no idea where it is going to be. but i tell you the most important thing in the energy business is to prepare for all eventualities. i think you have got to do that. but i'm not going to predict. jonathan: final question. the parallels between the opec situation and what is happening in iron ore. ironanalysts said that $30 ore is fantasyland. is $20 crude fantasyland? nothing is run, impossible. long run $20 is probably wrong. but that is as far as i would go. jonathan: good to have you with us this morning to the former ceo of bp and the author of his new book "connect." thank you for joining us. up next, a swee

brent has been trading at lows not seen since 2004.e thing that is interesting, yesterday, nymex hit parity for the first time since january. for theeeing that second time in two days, at least to the, nymex crude is trading higher than brent, and up about 50% -- $.50 higher. nymex crude up 4%. up 2% here. oil stocks see the inventory dropped him. exxon mobil is down about 2%. williams companies really seeing a huge, positive bump. it had been down. it is coming back, up by about 10%. betty: thank you so much. let's check in on the bloomberg first word news. courtney donahue has more from the news deck. -- desk. courtney: russian jets have conducted airstrikes in syria since deploying to a base in late september. amnesty international says russia is using cluster munitions and unguided bombs. some part of cluster bombs often remain unexploded long after the fighting ends, killing civilians. officials in iraq are blaming islamic state for bombings across the country that killed at least 15 people, but the government says its forces are

as brent becomes cheaper that makes it more attractive to the refiners on the gulf coast to use brent bring in wti nymex crude from the cushing hub. opec says long-term they see prices doubling from here, but not until 2020. we'll have those inventory numbers coming up around 10:30 eastern. >> we will see you then. >>> walt mossberg later this morning on the top tech trends of 2015, including which company he says seemed to come out of a coma this year. dow is on track for its ninth consecutive triple digit move. back in a moment. ♪ >>> the big short hits theaters today. it following michael lewis' best selling book about the 2008 financial crisis. we caught up with a few of the stars at the red carpet premiere. >> i think it's really -- you can understand it now. i think what surprises us is that it's still going on now. it's going on in different forms, but the same mentality. the same greed is good. the rating agencies are absolutely worthless. it needs to be looked at. it could happen again. >> seem like a dry subject matter, but it's actually funny and entertaining. and riveting.