helima, have a great trip. >>> coming up, home.ts on the average price of the new house you have got to hear. >>> as we head to break. other headlines happening right now. 39% of voters cast ballots in the union election of amazon's alabama warehouse. a much smaller turn out from last election last spring. in that vote, workers rejected the union. >>> and the sanctions that will cost the russian economy ru russia's economy will shrink 10% each year. >>> and get ready. formula 1 is coming back to vegas. sin city will host a race in 2023 all part of the multiyear deal 200 miles an hour down the vegas strip once again very cool. we will go to a quick break. we'll be back right after this “”. no wayyyy. no waaayyy! no way! [phone ringing] hm. no way! no way! priceline. every trip is a big deal. this is the new world of work. each day looks different than the last. but whatever work becomes, the servicenow platform will make it just, flow. whether it's finding new ways to help you serve your customers, orchestrating a safe return to the

helima is up in a few moments.s are up, surge again it's here and oversees oil prices $110 a barrel stock futures are holding up ey're higher across the board. we're back right after this. energy is everywhere... even in a little seedling. which, when turned into fuel, can help power a plane. at chevron's el segundo refinery, we're looking to turn plant-based oil into renewable gasoline, jet and diesel fuels. our planet offers countless sources of energy. but it's only human to find the ones that could power a better future. >>> welcome back take a look at the price it's surging again $110 a barrel overnight. even oversea at least so far russian officials expected to be in attendance they plan to roll on with their 400 barrel increase a day production there are other impacts other than what they're going to do with output. let's bring in someone who knows more about opec than anyone. helima croft live in los angeles. i don't know if you stayed up or got up either way, helima, we certainly do appreciate it wondering

helima, what are the market implications of this deal between the u.s. and europe? >> i think it's important in terms of making a dent on trying to reduce europe's dependence on russian gas. it's 15 bcm. we still have a ways to go, though, if we're really going to cut europe's dependence by two thirds where are the additional supplies going to come from? it looks like we're going to be rerouting additional supplies. we have 60% to 70% of u.s. lng currently going to volume. where are the additional volumes going to come from >> the other question is geopolitically, how it changes the equation for europe. it's sftill going to take a lon time to wean europe off russian gas. >> it is, and obviously one of the great and tragic ironies of this war is the fact that the europeans right now are funding it and they would like to get away from that as quickly as humanly possible by the way, there's still real possibilities that the existing gas and oil gets severed irrespective of the fact that the europeans really need it, both because the russians might decide to take those

we will bring in helima croft. the managing director and global head of commodity strategy and cnbc contributcontributor. helima, the numbers are rat ratcheting up rapidly. this is coming before the official order from the united states or agreement in europe to cut off russian supplies entirely how much of this is priced in as if that would already happen and how much is that because of what we have seen and companies are saying forget it we will not do business with you. >> becky, shell indicated they are not going to purchase any more russian crude they took so much criticism. accused of war profit teering russia could lose imports by companies walking away the ceo at totale said they will stay they will not take any russian barrels. it is a situation where very few countries are willing to touch this product right now that is before we've talked about any formal oil em bargo or sanctions. >> we talked about how this is different from the past. you had situations where people maybe thought after crimea, this is

for more on the driving oil prices, let's bring in helima croft.ma, the move that the eu is red ready to start banning russian oil. >> germany is opposed to banning rush sian oil they are reluctant to go for embargo. hungary expressed opposition i think it is really hard to get an eu wide embargo on russian energy of the will congress force germany's hand impose secondary sanctions like iran to force refiners in germany? for now, we have the division of europe and penalizing the exports. >> will we see europe break where part of europe goes along with it and germany and hungary don't? >> we could see that the question is will it be effective? as long as germany is a holdout, that is still a significant lifeline to vladimir putin he will continue to sell oil to india, china and less volume than before, because a number of companies are pulling back doing business with russia as long as germany is taking russian commodity imports, putin will have a lifeline. >> helima, you are in the middle east right now doing extended tour what is the feeling you g

helima croft giving us her outlook on crude and tomorrow's opec plus meeting.ctro rock music) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf. as a small business owner, (cro your bottom line is - bi always top of mind.! so start saving with comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. so boost your bottom line by switching today. get the new samsung galaxy s22 series on comcast business mobile and for a limited time save up to $750 on a new samsung device with eligible trade-in. >>> shares of salesforce up almost 3% after the company reported earnings that beat on the top and bottom lines joining us now, dan ives of web bush securities to break down the quarter. dan, what are your first impressions here seems like street reasonably reassured about these results. >> yeah, this is a shot in the arm for the bulls. and obviously, this has been an uphill

. >> helima, set me straight on something else., does it belong in this conversation? because i hear some say why don't we just turn it on and draw that oil. >> i mean, the problem with keystone is, it is not completed. where the construction was actually proceeding was on the canadian side. the problem getting keystone finished there were issues with exports with keystone. getting it, is not going to provide an immediate release. it has to be built. canadian oil is coming to the united states. i think it's a broader symbol for investors. and greater permitting for u.s. and national gas exports. with the volume into europe, helping them deal with their situation now involving russian imports but again, if xl could not provide immediate relief even with immediate u.s. relief. if u.s. producers start putting more rigs to work that oil is not coming for another six months. hence why we've caused countries like saudi arabia, if you need immediate oil, only a small number of countries can quickly provide barrels. that's why there's conc

helima croft weighs in. >>> and china with the zero covid policy talking a toll. details ahead. >>> apple's record-breaking win streak

we have helima croft with us i hope you were listening to our conversation earlier of what is playingic. i don't know what the right word is let's talk about the implications for the oil markets. wti, obviously, continuing to move up this morning how do you see it? do you see an off-ramp what does it look like >> it doesn't look like an easy o off-ramp at all. 1 million refugees fleeing ukraine and we are in week two you mentioned shelling the largest nuclear facility in europe russia seized control. the issue of shutting off power. this is an unpleasant argument that they put the weapons on alert. we don't know how this will evolve it is incredibly concerning. i think the other issue is if they do attack a nato country, a baltic country, this becomes international quickly. >> you've talked about russia being not just a gas station, but a commodity super store. i love that comment. it makes you think about what will be the inflationary pressures. we will get the jobs number later and comments from jay powell this week how will this change his outlook for everything >> again, this is n