president. ♪ brent: i am brent goff. it is good to have you with us. u.s.sident donald trump is in israel. it is following a two-day visit to saudi arabia. he has become the first sitting u.s. president to visit jerusalem's western wall, one of the most sacred sis in judaism. he spoke of a, quote, rare opportunity to bring peace to the middle east, dubbing a peace accord the ultimate deal. trump also had tough words for iran, promising that tehran will never have nuclear weapons. reporter: in a visit heavy in symbolism, even the plane ride was unprecedented. donald trump arrived in israel on probably the first ever direct flight between saudi arabia and the jewish state. the two have no diplomatic relations. israeli prime minister benjamin netanyahu welcome to trump, hailing his country's close ties with the u.s. >> your visit here, never before , as the first foreign trip of a president of the united states, included a trip to israel. thank you mr. president. [applause] thank you for this powerful expression of your friendship to israel. reporter: for his

i am brent goff, it is good to have you with us. he was responsible for the hit list of people to be murdered. that is why police in germany are claiming tonight, following the latest arrest in the case of a suspected far right terror cell inside the german army. authorities suspect the lieutenant helped another officer in a plot to assassinate top politicians and then blame refugees. this is the third arrest in the investigation so far. prosecutors say the names on that hit listncluded geany's president. >> their sites were sent on a former german president, and justice minister. investigators found their names on the list of potential targets. >> according to what we have discovered so far, the three suspects were planning an attack on the life of the senior politicians and public figures committed to what the suspects considered to be misguided refugee and immigration policies. >> police officers arrested the 27-year-old lieutenant at the border of france. the arrest raised concerns there might be a terror cell within the german

brent: we have coverage from sochi. reporter: angela merkel mentioned the most unpleasant issue with president putin, the violation of human rights in russia. a very dangerous situation for gay men in the russian republic of chechnya. he accused european police of being more aggressive than russia. there is no hope that merkel's words had been heard and understood by the russian president. as for the ukrainian conflict, putin accused the government of -- admitted to know one mistake on the russian side. we hope both leaders can find a common ground fighting international terrorism, which is good, of course, but not enough. nevertheless, these talks were important for both sides because face-to-face dialogue, or an attempt to understand each other , is important to break down barriers. that is particularly true of russia, which oyster complains about not being heard and respected on the world's stage. brent: that was our report from sochi. after his meeting with angela merkel, president putin called the u.s. president, d

. ♪ brent: i am brent goff, it is good to have you with us tonight.n the united states, donald trump is receiving palestinian leader mahmoud abbas at the white house for their first face-to-face talks. they discussed the israeli-palestinian conflict and want to establish peace. in february, donald trump said he wanted to accept any peace settlement including alternatives to the two state solution. our correspondent in washington is mya schrader. she is on the story. what is the latest from these talks? mya: both men put on a very good face today. they seemed very friendly with each other, very willing to talk, but a lot of the rhetoric that we saw from this joint statement they gave was on a bus' side -- abbas' side, the same rhetoric may have been hearing -- adhering to with two states living side by side in peace and security. from donald trump we heard, let's do a deal and did not amount to much. we have a clip of something he said. donald trump: we want to create peace to israel and the palestinians. we will get it done. we will be working so hard

i am brent goff.ight, a shakeup for the european union. the leaders of the two nations known as the engine of europe, president emmanuel macron of france and chancellor angela merkel of germany, agreed the european union needs deep reform. macron called for what he is calling a historic reconstruction. he was visiting berlin just one day after his inauguration as the youngest president ever of france. reporter: a man on a mission. macron traveled to germany on his first full day in office determined to make a start on reinvigorating european progress. it has unnerved some german conservatives but chancellor merkel emphasized common ground after talks. she said france and germany want to deepen their relationship and develop a new roadmap for the eu. >> we share the conviction that we cannot just concentrate on the departure of britain. rather how we should focus on how to deepen the existing european union, in particular, the eurozone, to make it more resistant to crises and more coherent. german fren

brent: -- new path forward. brent: he still needs to have a working majority in parliament.know there are parliamentary elections next month. can his movement go from zero mp's to being a force to be reckoned with by next month? this is the new political sty you're are right, not one parliamentarian so far. but there will be 577 candidates for the parliamentarian elections. we still don't know who these people will be yet. one thing we already know is 50% of those people will come from civil society and will never have held elected office. this is obviously an attempt by macron to breathe fresh air into this encrusted lyrical landscape in france and rebally show his voters he is serious about changing things and wants to get everyone involved and find a place for as many people as he can. brent: max, we know that he is changing the name of his movement. wilson all the national front is changing its name. beyond that what is the future for marine le pen? she said yesterday she is now the opposition force that macron will have to reckon with. max: it seems like the whole poli

visit ncicap.org] brent: this is dw news, live from berlin. tonight, the fallout from the firing after donald trump shocked washington by showing the ei director the door. democrats are left shaking their fists. >> if there was ever a time when circumstances warranted a special prosecutor, it is right now. brent: lawmakers on both sides of the aisle question the timing of the president's decision to fire james comey. the white house maintaining it had nothing to do with the investigation into possible ties between the trump campaign manager russia. -- campaign and russia. he's willing to visit the north. the son of north korean refugees and is pushing a nonconfrontational policy towards pyongyang. germany's defense minister vowing temple mature after investigators uncovered an alleged plot by soldiers to kill politicians and put the blame on refugees. and another blow to fifa's image. corruption again at the spotlight of the soccer world governing body after it ousted the top ethics judge and prosecutor. they say their removal means the end of

brent: ok. daniel, thank you very much. >> my pleasure. ♪ brent: it is time for business. here, the budget proposal called a new foundation for american greatness. greatness that will come when the poor get less help and border protection gets more money. as with any plan of the u.s. administration, questions arise, especially by those that need state aid to survive. correspondent: it will take some time to digest. president donald trump's first budget is in the open. he sees it as part of his strategy to make america great again. he claims to chart a path to surplus over the long-term, based on questionable assumptions and charted in red ink. it proposes public spending cuts in the coming years, including drastic cuts to federal health care funding as well as food programs for the poor. at the same time, the military and border security will be getting at your funding. >> for years we have simply looked at a budget in terms of the folks who are on the back end of the programs, the recipients of the taxpayer money, and we have not spent enough time focusing attention on th

. ♪ >> i'm brent goff. it's good to have you with us. investigation into the manchester suicide bomber is moving quickly. police say one of the suspect's brothers and his father had been detained in libya, and that the brother was allegedly planning a terrorist attack in the libyan capital, tripoli. authorities also confirmed they are investigating a network that provided logistical support for the attack in manchester. officials believed 22-year-old salman abedi was radicalized during the time he spent abroad. disturbing developments tonight, as the people of manchester tried to come to terms with terror. guest: -- reporter: a city in morning as residents pay their respects to the dead. >> i think it's the defiance of manchester, the life very much goes on. we never forget, but it's one of those things where the city doesn't stop. >> it's the same with berlin, the same as paris, the same as nice. it's all over the world how do you defeat these people? you can't. all you can do is be vigilant and carry on as normal and don't let them win

♪ brent: i am brent goff. it is good to have you with us. did u.s.sident donald trump go too far? tonight, some lawmakers are asking whether trump is guilty of obstruction of justice after a media report claimed he pressure the fbi director to drop an investigation into his former national security adviser, michael flynn. the director of the fbi, james comey, was later fired by trump. lawmakers say they want comey to testify as they investigate the matter. reporter: the latest allegations revolve around a meeting between trump and then fii -- fbi director james comey. a memo written by comey says trump asked him to end the investigation into former national security adviser michael flynn. flynn step down in february after just three weeks on the job. he was forced out after lying to top white house officials about his contacts with the russian ambassador to the u.s. comey's alleged memo said trump said i hope you can see your way clear for letting this and flynn go. the white house has denied a report but opposition lawmakers are shocked. >> seems li

: i am brent goff.is good to have you with us. donald trump has lashed out at the appointment of a powerful special counsel to investigate his administration. he took to twitter again today, making unsubstantiated claims of both hillary clinton and barack obama overseeing illegal acts that warranted special investigation. he said he was the victim of the single greatest political witchhunt in american history. the outburst comes as the justice department named robert mueller as its special counsel to probe russian influence in the 2016 presidential election. for the perspective, we also have the power to look at other issues arising from the white house's handling of this and many other crises. reporter: this is the man who will be the investigation into the trump administration's alleged ties with russia. hard, uncompromising, robert mueller will have many powers to follow the investigation leads. congressional leaders from both parties welcomed the appointment. >> i believe that the professionals in t

. ♪ brent: i am brent golf, it is good to have you with us. hope for somalia, the government struck a agreement with the international community to bring stability to the country. it will focus on training and building a national army to fight against our shabbat militants. -- al shebab militants. the secretary-general has high hopes that the decisions made in london will have a real and lasting impact. >> this conference was an unmitigated success. an opportunity to defeat terrorism and to establish peace. an opportunity to allow for the buildup of national somali institutions and lay the foundations of a normal economic and social development process. these opportunities are possible because we have in somalia a government that has a strategy that makes sense and deserves the support of the international community. brent: that was you and secretary-general antonio guterres. other challenges facing somalia, severe drought is pushing the country to the brink of famine. >> the sun beats down relentlessly on dusty rose of soil -- rows of soil. i

brent crude, 54.57. you could wait's o steve spoke to the iranian oil minister and asked him his thoughts on an extension on the cuts. >> we think based on the consultation that we h and the reports that we received, it's unanimous idea to continue the cut that we had in december that we decided. and for how long there may be some discussion with how long iran is ready for this discussion for any period of time. >> nine months is the preferred period of time or six months? >> both is acceptable for us. >> if iran were asked to make cuts, would that be acceptable given people have said there is slow rebalancing and maybe more would be needed from the organization and non-opec in order to get a swifter rebalancing? >> it's very important for all opec and non-opec participants in this argument to comply, to fully comply. it's very important and now we had very good compliance, but we need to comply with this decision for any period of time. >> steve also spoke to the iraqi oil minister about his country's p

the brent oilfield, more than 100 miles north—east of the shetlands, has been producing oil since theay. now the oilfield is coming to the end of its economic life and these monoliths are being decommissioned. it is a process that will be worth at least £40 billion in the years ahead, but it is not without challenges. shell, which operates the oilfield, says it learnt lessons from the furore surrounding the scrapping of the brent spar storage facility in the 1990s. but there are concerns that delta's three concrete legs will remain in place. campaigners accuse shell of putting profit before the environment. to fully comply with the international law, shell has to prove that leaving the legs of this enormous oil rig behind won't cause environmental damage. and to date, they simply have not done that. shell says it welcomes the comments and will work with all interested parties. the topside is now on its way to hartlepool where a salvage company awaits. and the coming years will see hundreds more platforms being decommissioned. the first of these giants from the once so vital brent oilf

brent delta, 211,000. 50% bigger.which will turn 19 degrees and sail up the water here to arrive at the new piece of concrete, the new quay being built specifically to handle the salvage and death of brent delta. an extraordinary few days of engineering. so far, so good. a decade in the planning, butjust seconds in the execution, as the topside, as it is known, is lifted off brent delta, and onto the world's largest constructions ship. it was built exactly for mammoth tasks like this. 380 metres long and 124 metres wide across two hulls, it is the size of an 0lympic‘s worth of pitches and buses. the captain of the ship says his is a dream job, as i spoke to him. it is one of the dreams to be the captain of a ship like this. this is as big as you can get. the brent field, more than 100 miles east of the shetlands, has been producing oil since the 1970s. during its peak, hussey million barrels a day. now, the oilfield is coming to the end of its economic life, and these monoliths are being decommissioned. itself, a mass

brent on the rise which is good news for the oil firms.ust shy of the $50 mark. a host of american celebrities have turned out for what's is described as ‘the party of the year‘ —— the met gala. the annual charity ball is held at new york's metropolitan museum of art to raise money for the museum's fashion department. tickets cost tens of thousands of dollars. nada tawfik‘s report contains flash photography. it is the hottest invite on new york's social calendar, and the biggest night in fashion, that draws out only the stars. stepping onto the met gala red carpet is to enter a runway, but one with a very specific theme. this year, the met costume institute is honouring japanese designer rei kawakubo, who famously blurs the line between fashion and artwork. rei isn't so much out of the box. for rei, there is no box, and she did that so early on. when rei started, you would never believe fashion could be as influential and as powerful as music. well, it is. you know, a lot of people say, like, how do you wear that? you don't wear those clot

look at this graph of brent crude and you will see why.in december when those production cuts were agreed. but it's been volatile since then and struggling to hold onto those gains. it now stands around $54 a barrel. russia can cope with this level — moscow has based its budget on $40 per barrel. but the biggest opec producer saudi arabia wants $60 per barrel. here's the big problem they have. shale oil production in the us fell sharply when prices hit rock bottom so it just wasn't worth their while. now prices are higher they are back in a big way and their technology is improving. you can see us production has surged by a million barrels a day over the past year, adding to a global oversupply of oil. earlier, saudi minister was confident. translation: all the countries within opec, which i have talked to have agreed on a nine—month extension. definitely there is no need to talk to all the 2a member states, however, i do not expect any objection within opec to be the issue, but the decision will not be finalised until opec meeting on may

this year, we are seeing more brent.are rebound, we saw materials and industrials do well. we are much more focused on individual stocks this year. jonathan: dan skelly and oliver renick, thank you. stocks rolling over a little bit in the united states. the gains in europe not following through to gains in the united states. the biggest loser there is facebook. alix: facebook, revenue growth .ill fall is there warning that overshadowed the news. facebook first quarter sales the estimates and the monthly user number rose. joining us from los angeles is a security analyst. at that slower at growth warning, too, why is that? >> they won every single time they open their mouths that ad revenue is growing nicely. the driver is average revenue per user and that was close to 40% in the u.s. it will keep growing here and it will grow much more to radically worldwide. they are adding a ton of new members. thego are getting phones in developing world and they are accessing facebook. i think they grow for a long time and i think th

brent crude reversing earlier gains down 3/10 of 1%.reasury yields are rebuilding in asian training. debt markets are looking a little bit mixed. some interesting, interesting moves in key asset classes shery. just under two hours away from the opening. let me show you the polls. i will pull it up on the bloomberg for you to take a closer look. can see pressure on consumer staples and utilities like saudi arabia electricity. materials up 2.5%. reporting earnings that beat expectation, partially own -- soaring 10% after swinging to a profit. also, dubai stocks are near the lowest levels since december. volumes are low across the board here. the average for a lot of these are it watch out for what is happening in egypt because foreign investors have dues -- reduced positions over there. let's get you up to date with other asset classes. brent crude -- what is up with wti? will it hold? and what is happening with gold? initially it had gain, now losing some ground. jpmorgan gcc spread index over treasury. tightening a bit at 3%. the south

brent also feeling the pressure.ortant when it comes to oil prices, it is not just the prices itself. it is what it means for inflation. played a big part when it came to price expectations. in the u.s., we saw breakevens plunged together with the price of oil wti. we are seeing the five year breakeven being very near a bear market, plunging about 16% since the march high. key whenlation that is it comes to oil prices. thanks very much for unpacking that. continuous coverage on what is happening. first, we have to get the first word news with paul allen. president trump has lectured nato allies in public, saying they must pay more for security. he said 23 of 28 members are not paying what they should. the comments threatened to widen differences among members. he attacked the organization is obsolete during the campaign. president trump has suffered to most significant setback his travel ban as a federal court slammed the order as quote steep in ms. steeped in animus. and general motors slumped after being accused of

anna: 1.6% higher on brent.he saudi and russian language says they are in favor of extending the cut. the saudi oil minister playing up russia's role in rallying support for non-opec countries. you will see how much influence they have. let's put up the risk radar and have a look at the broader equity picture. there's the oil price, the shanghai composite as well. a couple things going on in big investment, infrastructure playing out yesterday and today. then we have the very short term factory data coming in worse than expected in terms of expectations. manus: it was a debate between the money xi jingping p promised versus actual delivery. you will see update o -- see a btit of a better bid. aussie dollar up for a fourth day, a nice move higher. again, this is really tied to the commodity complex. as you say, it was disappointing chinese data, but the markets in terms of position, the net longs, any sort of turnaround in oil helps the aussie dollar. have they got a missile that can get to guam? that's the quest

brent crude is down less than that. off by a quarter of a percent. 48.26. so we're seeing a bit of recovery intraday. we saw a vicious selloff in yesterday's trading session to the tune of 5%. an extremely heavy volume is something that characterizes the selloff. let's go out to the oil market analyst from energy aspects. is there one single factor that you can elude to to explain the sudden drop? is it libya? overall supply fears? is it something else? >> good morning. so, it's been a combination of factors. one being ever since the last few weeks we've had the market growing a bit inpatient with the incoming data that we've been seeing especially on the inventory side. visible inventories have not had as much of a draw down as the market would have liked. and to compound on top of that, we've had the market also extrapolating quite a bit on the opec statements around the deal. as well as some of the macro economic data from china. so, those factors have sort of built in to where we are at the moment. on top of that, we have a lot of cta linked selling, a

but for someone like brent boezle to go out there and maki the disingenuous add whom nim attacking ona well intentioned reporter. there is such a decline of civility in this country right now. and i understand it. i get where it comes from it's so disappointing. >> detectives, determined probable cause existed to issue a citation. for misdemeanor assault. it's not like this was you know something that just is going to go way. >> he is going to appear in court. >> yes. you know. >> okay. >> there's facts. >> i do wonder where it all ends up. i find myself wondering that this chiemt what's the next step in all of this. >> time to squeeze in another break mp thanks for staying with us we have a lot more to get to the donald trump's son-in-law and close adviser being looked at the at for the russian involvement in the presidential election. all the details after a short break. le salad the best simple salad ever? heart healthy california walnuts. the best simple veggie dish ever? heart healthy california walnuts. the best simple dinner ever? heart healthy california walnuts. great tasting

the brent oilfield, more than 100 miles north—east of the shetlands, has been producing oil since thell, which operates the oilfield, says it learnt lessons from the furore surrounding the scrapping of the brent spar storage facility in the 1990s. but there are concerns that delta‘s three concrete legs will remain in place. campaigners accuse shell of putting profit before the environment. to fully comply with the international law, shell has to prove that leaving the legs of this enormous oil rig behind won‘t cause environmental damage. and to date, they simply have not done that. shell says it welcomes the comments and will work with all interested parties. the topside is now on its way to hartlepool, where a salvage company awaits. and the coming years will see hundreds more platforms being decommissioned. the first of these giants from the once so vital brent oilfield is now being brought ashore to end its life. john maguire, bbc news, hartlepool. time for a look at the weather. there is a chilly breeze blowing across the north sea at the moment. you will be feeling that along the

goldman sachs cutting its forecast for brent and new your crude. j.p.organ has cut their forecast for brent and wti by $10 a barrel for the next year. at the g 20's space, the currency markets, the pound very much in focus, slumping for the first time in a week. the conservative party could lose out as indicated by the polls in the june 8 election. we do have the euro slipping after touching 112 overnight. the mexican peso falling after tumbling the most in three weeks. atuick check on the yen 110.93. haidi: the yen holding steady after those three days of strengthening. thank you so much for that. let's get first word news with rosalind chin in hong kong. rosalind: the fed governor brainard said inflation makes them rethink in the face of rate ises even the global outlook frightening and the u.s. economy show strength. it underlines the fed problem with unemployment at a post crisis low. policy decisions more complicated. however, he said it is to alread early to make that call. >> i see some signs that the economy is in the neighborhood of full employ

brent crude at 51.57, up by 0.2% after seeing the biggest drop in three weeks yesterday.at u.s. futures. we are seeing a mixed picture here. the s&p 500 seen up by less than 2 points. dow jones seen off by 10. nasdaq seen opening higher to the tune of 1.5 points after we saw a record close for the s&p and nasdaq yesterday, while the dow ended the day within 33 points of its record close. by in large these markets did shrug off the declines we saw in oil. >>> the show may be drawing to a close, do not fear, we have plenty more great interviews coming up throughout the morning. head to cnbc international's facebook page to catch our interview with bill winters coming up in a few minutes. that's it for today's show. i'm carolin roth. "worldwide exchange" is up next. the future isn't silver suits and houses on mars, it's right now. think about it. we can push buttons and make cars appear out of thin air. find love anywhere. he's cute. and buy things from, well, everywhere. how? because our phones have evolved. so isn't it time our networks did too? introducing america's large

and brent crude ahead of the 0.5%,eeting is up by $54.45. let's get to the bloomberg first word news. reporter: amber rudd says thousands of troops are available for deployment to help police guard public events around the country following the manchester suicide bombing. 22 people were killed and dozens injured. authorities are now hunting for possible compasses. prime minister theresa may announced intelligence analysts raised the u.k. terrorist threat levels from severe to critical, the highest level, for the first time in a decade. >> our assessment is not only that an attack remains highly lightly, but that attack might be imminent. debt ratingina's has been cut by moody's for the first time since 1989, reduced to a-1. this challenges the view that the nation's leadership will be able to rein in debt, while maintaining the pace of economic growth. >> the authorities have recognized the risks at home with economic leverage. account to thento point where we think leverage will increase more slowly than in the past. these measures will not

the price of a barrel of brent crude has fallen of a barrel of brent crude has fa lle n eve n of a barrelhed by opec that they would do in nine—month cut. on the morning of that meeting in vienna, there we re of that meeting in vienna, there were rumours that they may go for a nine plus three, i.e., coming to the end of this output cut in nine months' time, saying, you know what? another three months is probably needed. in the grand scheme of things, markets have said this is what we expect. we need to be surprised positively and it does not move shale operators, low—cost operators in the us, continuing to pump out oil from places we have never seen before. it does not keep them away from the action for much longer. there is definitely a top in oil prices at the moment. jeremy kyle, thank you. —— jeremy oil prices at the moment. jeremy kyle, thank you. ——jeremy kirk, thank you. before i go, one other story. across the atlantic... shares in retail giant amazon rose above the $1000 mark for the first time in early trade before then slipping back. in perspective, it originally listed shares

brent is big, wti is big. you can see they are closing up .2%.is the positioning of the markets. they had washed themselves out. the market had essentially given up on it's very long bullish position it created on the first cut that was agreed to. the market has got fresh ability to take itself higher. this is the shanghai composite closing on the data. the movement seems to be on the hang seng. you have got a nice bit of momentum. it is the belt and road story that drives the market. i'm off to the radio. let us turn our attention to what is happening with the markets and some of the moves we are seeing. unsurprising that, we are getting a move in some of the oil stocks this morning. i have the set up with index points. while that shall, one of the biggest gainers. bp is dead, total is bid. some of the other stocks as well. some of the drug stocks. 12 stocks have gone ex-dividend in europe. be aware of that. you can see it won't are presented when it comes to the losers. phillips has gone ex-dividend this morning to read edp had gone ex-dividend

brent crude, 52.13, up 0.6%. have that supportive commentary from energy ministers from saudi and russia. and goldman sachs put out a note saying that just increases the chances that other members will follow suit when it comes to cutting production. >> i think the slightly bullish tone of the eia report saying despite the fact we have seen high levels of inventory, we are seeing that rebalancing. that's another factor why we are getting 0.7% of gains for oil prices today. coming off 2% of gains yesterday. 3.5% of gains last week. >>> there a developing story, federal investigators will be at the site of yesterday's jet crash near a small airport outside of new york city. police say two crew members were killed when the learjet crashed among a group of warehouses and industrial buildings about a quarter mile away from the runway in teterboro airport in new jersey. there were no passengers and no one on the ground was hurt. the cause of the crash is still under investigation. the flanational weather service warned

brent crude 54.50. wti crude at 51.77. both up by 0.6%.t out to steve who joins us from vienna. there seems to be a lot of ambiguity in the comments coming from the iranian oil minister. i thought nine months was a done deal? >> very interesting, actually. the iranians have been on board for this since the deal was announced last november because they were allowed a small increase, up to about 3.8 million barrels a day.ranians h themselves heard. one official said we think we'll go 3 million barrels higher at some point per stage. that's way beyond their capacity at the moment, especially if there are heightened sanctions from the u.s. on iran, which is more of a threat now under the trump administration than under the obama administration. as far as the comments about saudi trying to drive the price up, of course they're trying to get the price up more. that goes without saying. they're t whether they're trying to get up to the $80 plus we have seen, is unlikely. do they want to be at a 60 handle? absolutely. whether you're in iran, venez

the price of brent rose sharply in december when those production cuts were agreed.was the trigger point in december last year. but it's been volatile since then and struggling to hold onto those gains. it now stands around $54 a barrel. russia can cope with this level — moscow has based its budget on $40 per barrel. but the biggest opec producer saudi arabia wants $60 per barrel. but here's the big problem. shale oil production in the us fell sharply when prices hit rock bottom — it just wasn't worth their while to extract it at that price. but now prices are higher they're back — and their technology is improving making it cheaper and more efficient. and it means us oil production has surged by a million barrels a day over the past year and all that is adding to a global oversupply of oil. with me is alan gelder, an expert at oil analysts, wood mackenzie. welcome to the programme. a lot to get through, saleh laying out some of the issues and that is what opec is contending with. let's touch on the break even point, what price do certain countries needed to be. that

if they don't extend, you're looking at $40 in wti and at low 40's on brent, so they will extend and the question is world amanda. mark: talk to me about copper the selloff in both continues, a link to china as well, demand. how low can these commodities go? takingcopper market is it on the chen recently, a market that was just over 2.6 zero and now low two-40's. a tightening monetary policy stage and quietly agreeing to take steel exports and cut them down. they are already cutting what they call shadow refiners, their smelters. as that continues to go on and there are economy is not producing at 7% growth, but 6.5% growth, we will keep the commodities complex under pressure. they are the elephant in the room, and that elephant is not asing in as much iron ore they took in the first quarter. they took a lot in the first quarter, but for a year on year basis, we are seeing declines, affecting australia, one of the reasons the aussie dollar has been under pressure, and will continue to see that, so no, i would not look for anything in the bull market for rebar or copper. you need to g

and brent rucrude up by 2.56%. >> let's talk politics, angela merkel continued to build momentum. key defeated democrat on sunday. 1 in 5 german voters live in north rhine westphalia which has been a stronghold for the party. that is indicative and widely prescribed as a political earthquake for the democrats. what went wrong in that region? >> reporter: actually, what happened in the north ryan westphalia, they're explaining pour housing, poor schooling, poor infrastructure. and a higher crime rate than in other countries. so all in all, the legacy of the last government here, or the government that's still in place, of course, was not the greatest. and that is why the cdu won here by a surprising actually, the margin that you are seeing. it was a very close call in the end, but the spd is the strongest party here in the state and it's really changed for them now. there's no short effect, we have not seen that in the last three elections here that we have witnessed this year in germany and other federal states. so we can apparently say that it's not really a bonus for the spd cur

the benchmarks, brent crude down 3% on the session.n from tom petri, chairman of petri partners. by donald trump to nato members, shaming alliance members for there's -- to pay their share to --

the benchmarks, brent crude down 3% on the session. we will get reaction from tom petri, chairman of petri partners. by donald trump to nato members, shaming alliance members for there's -- to pay their share to -- we will have the latest from brussels. today,affecting trade strong trading. affecting stocks but not the rally. all three major averages pushing higher, the dow not at record levels with the s&p and nasdaq on the closingds basis once again. that means we have seen some momentum recently. look at the bloomberg. we have the winning streak now in its sixth straight day here. that is the longest since february when there was a seventh session run for the s&p 500. and showhe push upward of momentum. present mentioned volume below the 20 day average, seeing relatively low volume. energy affecting thing, energy stocks down. conscript desk consumer discretionary is up, followed by staples. we have had a lot of news for discretionary topping stocks in that group. best buy shares pushing higher 19% after the company's earnings beat e

brent crude is flat. we see light crude well below that psychological mark.s that psychological mark. this all co m es after that psychological mark. this all comes after oil producing nations outside of opec agreed to extend production cuts. energy ministers have been meeting in vienna to discuss extending the cut which is due to expire next month. higher fuel costs have hit quarterly profits for airasia, even though more passengers are travelling with the carrier. the airline has been hurt by the strong us dollar and higher staffing costs. turning to india which has seen a lucrative textiles trade with africa. each day, second—hand clothing arrives from the us and europe and the clothes are from the us and europe and the clothes a re recycled from the us and europe and the clothes are recycled into fabric for bla nkets clothes are recycled into fabric for blankets made exclusively for african consumers. but this booming business is now struggling. this is the world's cost of capital. from high street brands to luxury labels, most clothes donated to charity

brent, that is what is going on as far as the brent contract .1 percent up at the moment.the latest business flash headlines come up first quarter profit rose by gains in its nuts and spices division and its food staples, increasing 27% to 103 million dollars, overall revenue up 22%, saying opportunist trading volumes in grains seeing olamp in sales, a third of 's business. extending its collapse over concerns it will be able to turn its business around and return to profitability. to 15 year lows following a 48% nosedive last week following a plunge in bonds. noble reported a loss of $130 million. the founder step down and said he can't see a profit anytime soon. rishaad: bhp billiton going back , broken hillbhp proprietary in the old days. a $10 million advertising billiton.ropping the company says it needs to change the way the community thinks about it and that the change has been in the works for 18 months and has nothing to do with elliott management's recent calls for reform. is in a name? indeed. toshiba facing legal action from western digital over the sale of its

brent bishop nearby when the bodies were found suspects carbon monoxide poisoning. >> if's really windynd miserable, people make the mistake of closing their tent up and cooking in it. and it as's a silent killer. >> reporter: the bodies were found at a camp nearly 26,000 feet up. the highest of four stops between base camp and the summit. it's called the death zone because of the extremely low levels of oxygen. climbers often stop thinking straight. >> when you're at 26,000 feet in the death zone, your cognitive skills are impaired. there's only about one third of the oxygen levels available to you at sea level. >> reporter: alison levine summited seven years ago. >> when i was there there were only three deaths, but later in 2012, there were 11 deaths. there are years when we have higher numbers than ten, which is what we saw this year, and there are years where we see lower numbers. >> reporter: bad weather has narrowed the climbing season, meaning more people are now on the mountain. the nepalese government issued a record 371 climbing permits. >> the fewer people on the mountain, t

and brent declines as weapon. let's check on the ten-year yield.d income goes so do stock market. we're up 2.29. up a bit higher from friday's close, up by a point. and the dollar index. third negative week as the dollar index continues to weaken a bit. over 60% and interest rate hike from the federal reserve in june. gold pricing. let's check in on gold. the third positive month. >>> the news out of washington overnight, congressional leaders reaching a massive spending that would fund the government for the next five months. cnbc's eamon javers is live for us. >> good morning, it was a big deal. we don't have all of the particulars what's in the bill. but we do have key points and we'll find out more with congressional aides are in the office this morning. we'll know what's in the deal right now. additional $12 billion in defense spending in there. a permanent fix that would fund coal miner's health care. $1.5 billion for border security. that's less than president trump had wanted and 295 millions for puerto rico medicaid program in there which

brent up 2.5%.after a statement by the russian and saudi oil ministers saying they back further production cuts. it's something that the market probably knew and was anticipating coming but just having the energy ministers out there in this kind of official way giving the market a boost. >> and 3.5% gains as it was last year. just for the reason why futures half their gains this morning. europe lost a bit of ground in the last half hour. beef seen the uk, 100, german dax stepping back. germany is down .25. >>> united states is close to completing a series of arms deals with saudi arabia totaling $100 billion. this according to a white house official. president trump will visit riyadh later this week. the package could reportedly end up surpassing more than $300 billion over a decade. >>> as president trump prepares for his first big trip overseas, he's also searching for a new fbi director. that dominated the weekend. nbc's tracie potts joins us now with the latest. what do we know about who will re

brent below 50 yesterday. nat gas is flat. >> the only thing to remember which is highlighted by the earnings of the likes of bp, exxon, even though they have slipped, year on year there are relative improvements. >> a lot of multinational companies are showing improvements on earnings thanks to the dollar cooling off and not breaking out following treasury yields. a bit firmer this morning, 0.2% against the euro and the yen. 112.20 is the price. stronger against the pound this morning. as for gold prices, they have been soft. the fear index, the vix at a ten-year low. gold that cooled off. less demand for safe havens. gold prices down to 1,254 an ounce. >>> apple and the unexpected dip in iphone sales. shipments of the product dropping 1% from a year earlier. they were under pressure from share holders to hand over more of its cash. it raised its dividend by nearly 11% to 63 cents a share. joining us to discuss results is dan morgan from cenovus trust company. thank you very much for joining us. we saw a nega

brent crude up as much as well. 54.46.s a big focus in the market ahead of the opec meeting in vienna. let's check in with chris kelly from janis capital what are we expecting in terms of a big decision from opec? >> i think the expectation is for an extension of the cut. i would say by in large everybody expects it to be extended for nine more months. anything short of that would be a disappointment. >> to rally in oil prices today we need more than nine months extension. what about deeper size of cuts? >> would be luge if we get a nine-month extension. we'll see oil up 50 basis points. if you were to get a deeper cut from 1.8 to anything over 2, or just the signaling that they might go there this the future. that's how you get the legs to go up to 60. which countries will hold out? who's ready to do more, cut more, cut for longer? who is holding out? >> the 800 pound gorilla is always saudi arabia. they can cut more. 100,000 barrels a day does not mean much to them. iran and iraq primarily want to hole out. really it's s

brent crude dropped by more than $2 on thursday to below $49 a barrel, hitting its lowest level sincet on 30 november. analysts said investors were worried that oil nations would fail to ease supply fears at a meeting later in may. i'll be back later with james to look at papers from around the world. there has been a substantial swing from labour to the conservatives in early results from yesterday's local elections. the tories have made significant gains in england and wales. counting doesn't start in scotland until later. the government is set to publish draft plans to tackle air pollution following a legal battle with environmental campaigners. the measure are expected to contain a scheme to encourage drivers of older diesels to scrap their cars. 0ur environment analyst roger harrabin reports. breathing polluted air can harm people's health throughout their lives. the government is being forced by the courts to clean it up. dirty diesel vehicles are mostly to blame, but many drivers ought them thinking they would be better for the climate, so ministers are likely to pay drivers to

months news, oil prices have hit five m o nths lows news, oil prices have hit five months lows with brentince opec agreed to cut production by 1.2 billion barrels a day in late november. those cuts are likely to be continued, though deeper cuts are unlikely, they said. since most international sanctions against myanmar were lifted, companies have been lining up to take advantage of the growing market. unilever was among the first. itjust the growing market. unilever was among the first. it just struck a joint—venture deal with a local rival, europe and asia commercial company. what are the challenges of doing business there? i asked the regional president about the tie up. it isa regional president about the tie up. it is a great company. we have been talking to them for a while. the country offers great potential. macro economics are good. 55 million people. a growing middle—class which is supposed to double by 2020. the economics are very good. we are excited. by combining the two companies, you are also, your manufacturing capacity will be better. would you consider exporting to the re

brent crude is up by three quarters of a percent at 50.85. wti at 47.98. according to a reuters report, iraq is choosing to refine more crude output domestically in order to skirt opec's supply cut rules. it's been a volatile start to the week for oil prices with brent futures closing at the lowest level of the year in u.s. trade yesterday. but data from the american petroleum institute which showed a bigger than expected drop in crude oil supplies has reversed some of the price declines. the german finance minister sent a strong message against protectionism at the b20, opening the business summit in berlin, the german finance minister said that if we learned anything from the past, it's that nationalism is never the right answer. annette is also at the b20, and has been speaking to many of the executives there. >> thank you very much, carolyn. the big theme here is free trade, and also where businesses are headed to in the future. so we're talking about digitalization, but also in the short and medium term, it's what the new u.s. administration might mea

brent moves lower by half of that. down 0.2. 51.53.old prices are firmer for the fifth day in a row. this speaks to the flight to safety. nothing extreme. but you take the dollar weakness, the fact that the yen is stronger, you have a 0.6% rally in gold. >>> let's get to washington news. the top story, fired fbi director james comey wrote an internal memo saying president trump asked him to drop an investigation into michael flynn. this according to reports. sources tell nbc news the memo was part of a paper trail comey built to document what he believed to be trump's efforts to derail the fbi's investigation into his campaign's alleged ties to russia. much more on this story in just a few minutes. >> worth going over the front pages, which dominates the front pages. here's the "new york post." "i hope you can let this go" citing the comey memo. no matter where you look. here's "usa today's" spin, comey memo creates furor. that, it does especially if you were watching cable news last night. which i was. the "wall street journal," trump