explosion of an oil rig, the sinking of a giant oil tanker. but in fact, over time, if you look at the total cumulative effect of that, it's only about 20% of the oil that goes into the ocean from human sources. the much larger component is this relar, everyday, intentional dumping overboard, getting rid of oil, waste products, sludge. ships--commercial ships tend to burn very low-grade oil, and that produces this messy sludge. and the question is, what do you do with that? well, by law, you're supposed to bring it to port, you're supposed to offload it. it takes time, it takes money, it takes energy to properly dispose of this stuff. or, if you're not trying to obey the law,ou can just dump it overboard, which the shippers believe save them time and money. mariners traditionally have dumped everything into the ocean. there's been the belief that the ocean's this vast, wide place that you can't really damage, that the water will just mitigate the impact of anything that's put in. but we live in a time where we're dumping so much material into

oil production. we then suspended the project for a while after the oil price declines of a few years ago to see how the turmoil in the markets sorted itself out. i think we were as intrigued as many people in the industry to discover how quickly the u.s. oil producers in the shale oil adapted to the new conditions and how relatively robust u.s. production is. i personally have been in practice, in which technical project and adaptation to the new market conditions have allowed u.s. producers to maintain quite robust production. i'm quite the optimist about u.s. oil production. but the main impetus for our project initially and as we started is so much of the story that we were hearing from foreign policy experts about rising u.s. oil output combined with stagnant u.s. oil demand that was leading to the united states to become more self-reliant in oil, the general store among foreign policy experts was that this meant that the united states was going to drawdown its presence in the middle east, and m

along with oil and gas. along with possibly -- no matter who wins, there's so many global dynamics that come into play, it won't really change what we call to the structural decline as you correctly pointed out in mining. >> what industry will be a winner? >> infrastructure. >> exactly. that's actually the one area where both candidates converge. not only has clinton pledged 175 billion for infrastructure spendi spending -- also trump has pledged to match that. double it. it's actually quite a departure from what you would expect from the republican party. both parties have actually converged there. we don't see a lot of congressional position on the infrastructure side. we think that will be definitely an industry that will do better under either presidency. >> your best case is that hillary clinton wins. by a minor margin and some of the polls suggesting. some say it's too good to call. we've seen some movement in the polls. let's say we get a trump surprise here. how would you position? >> what's importan

we have oil and therefore you. up by more than 3% on the oil price right now. all of the surrounding saudi arabia, a stronger post to the jobs number outside the u.s. stocks in europe up 2/10 of a percent. right now, the london market underperforming. this is bloomberg. ♪ ♪ anna: welcome back, this is surveillance with manus any. >> close to naming a j.p. morgan investment executive to run its mortgage bank. that would fill the final vacancy on ceo jeff bailey's management team. he telephone and -- .he list already the price, two-putted $7 billion. not beto -- it will cheap to replace those potentially defective smartphones. the corian phone company may spend up to a billion dollars to replace all of the phones that went on sale last month. about three dozen of the phones caught fire into exploded. that is the bloomberg business lash. anna: thank you. g-20 summit wrapping up. leaders and top policymakers have warned about the global economic outlet and the growing protectionist mood around the world. shery ahn is covering the g-20 summit and joins us now. the t

in manipulating oil upwards. here's how it works in the face of a mountain of oil swirling. first take a look at a roit story that ran under the headline, venezuela said opec non-opec oil stabilizing deal close. with a date line of margarita island, where there was a summit of the non-aligned movement. the statement couldn't have been more definitive and i quote again. venz way ln president said on sunday that opec and non-opec countries were close to reaching a zedeal to stabilize oil marke and he aimed for a deal this month. that's always part one of the rumor. a statement from the man who needs oil to go higher more than any 0 leader in the world, the president of venezuela, whose country is falling apart before our very eyes. next we need a call to action from someone else besides the totally lacking credibility venezuelan government. sure enough who weighs in right on cue? in the next paragraph of the story, opec's secretary general, who gets quoted as saying, and i quote, opec members may call an extraordin

we started the session strong when oil was roaring but then tapered off when oil surrendered some of its gain. with oil closing near the lows of the day, so did the averages. given the big oil glut, we all know about it, how did crude manage to rally so huge this morning? up almost $1 from the get-go. simple. every time oil goes down to the low 40s, like it did last week after a persistent hammering, we get a rumor from oil producers that a production freeze is imminent. sure enough, this weekend the desperate but very shrewd oil ministers played their parts to here's how it works in the face of a mountain of oil swirling. first take a look at a reuters story that ran under the headline, venezuela said opec non-opec oil stabilizing deal close. with a date line of margarita island, where there was a summit of the non-aligned movement. the statement couldn't have been more definitive and i quote again. venezuelan president said on sunday that opec and non-opec un and he aimed for a deal this month. that's always part one of the rumor. a statement from the man who needs oil to go higher

oil down 2.5%. are watching "fbn:am," your first look at morning markets and breaking news. ♪ professor who never stops being a student? is it a caregiver determined to take care of her own? or is it a lifetime of work that blazes the path to your passions? your personal success takes a financial partner who values it as much as you do. learn more at tiaa.org seconds can mean the difference between life and death. for partners in health, time is life. we have 18,000 people around the world. the microsoft cloud helps our entire staff stay connected and work together in real time to help those that need it. the ability to collaborate changes how we work. what we do together changes how we live. nicole: welcome back. the ku is futures. the dow started off yesterday with the news from the governor been somewhat dovish, and so we saw the markets pipe yesterday. down 119 points because of some news on oil. lauren: let's talk about the news on oil. 2.4%. $1.10 to $45.13 a barrel. a lot of the oil supply mu

oil and gas at 1.1%. russia and saudi arabia said they would work together to stabilize global oil. let's get to some of the big movers, the big gainer this was provider of banking software. jumping to a record earlier after credit suisse upgraded the stock to outperform from neutral. it added it to a list of high conviction ideas among swiss small and mid-cap stocks. credit suisse expects the company to exceed its target. a strong momentum and licensing breakf -- licensing. large -- visibility remain strong in 2017. a progressive renovation plan of large banks relicensing contracts as well. the price target is 71 swiss francs. today we are at 61.9. is median price target 53.54. that implies a 14% downside. let's get into the big piece of data today. u.k. services jumping the most on record in august. 52.9 from aed to seven-year low of 47.4 in july. that is the biggest monthly increase since the survey began to decades ago. economist forecasts rise to 50. economist predicted an imminent recession will be avoided, but urged caution saying data since brexit does point to stagnation. t

as you can see, as the oil price has fallen, russian oil production has risen. it is just off a record. it is very close to 11 billion barrels a day. and this is russia, the church is the same for all the big oil producers. opec reached a record last month. saudi arabia isn't far off a record. they all know it is a battle for market share until you have a deal. so maybe the move we saw downwards in the oil prices is easy to understand. because we thought we would get a deal in april when the country's got together and then the russians were expecting it but the saudi's said they wouldn't do it unless the iranians did it. and they did not join. they upped their production. the saudi's upped their production and here we are. >> ryan chilcote, thank you very much. nejra: a gauge of u.k. services jumped the most on record in august. halpenny joins us now. good afternoon, thank you for joining us. we got the better than expected data last week. manufacturing among it. said, wait for the services data, it might be too soon to tell. do you think the u.k. will avoid a r

that's the oil price level that the shale oils can stay in business? >> it depends on the shale oil producer. different by country. by company. but i believe that maybe $30 in the bottom and up to $60 the highest level. >> so they can stay in business at this time at the current levels. >> yeah. >> v very briefly, the future o opec, how much power is it going to have? >> yeah currently they have lost their power due to the shale oil producers. they have a huge capacity so it's difficult for them to regain their power. but this time it's a change that saudi arabia might come back as producer and they might cut their production level and they can adjust the market. >> the unexpected deal surprised global markets. marked wti crude oil futures gained 6% to reach the $47 level. that boosted the market's appetite causing a surge in tokyo shares. john ladue has details from the tokyo stock exchange. >> i investors were pleasantly surprised about that opec oil deal. the gains in crude futures boosted and the. weaker yen helped exporters. let's see how the leve

and then oil prices are supported.kking at function, the probability of a 32%.in september is after december, 59%. how do you think equity markets would respond if we saw the fed hiking in one of those months? how would you protect yourself from the possibility of a hike? hikes wereally, bullish for the equity markets. be a proclamation that growth is strong enough to allow the hike. and confirmation for the equity markets. we are not in the normal world. we are in a world where the equity markets have not supported for a long time. if you do think interest rates go up from here, the way to hedge yourself and protect yourself is within the equity markets you play a rotation, by financials and purchase cyclicals. what i and saying is that we have a very strong rally in the banks since early july. there was a dig rally in july and august but the bond yields have not gone anywhere. there is a disconnect. 30d yields need to go up basis points from here to justify where the cyclicals are already trading. driving this. if yo

oil production.ing 10.9ial million barrels per day produced in august and that is a new record high. and fees through to the oil related manufacturing sector which is captured in the pmi. it is not surprising to see the pmi rising in saudi arabia on the back of those increased oil production numbers. would you say that saudi arabia is currently the strongest performer off the back of the latest series of reforms when it comes to the stock exchange and trying to bring in more foreign cash and of the anticipated saudi aramco listing ? how positive are you? i think the reforms that they have announced are pretty ambitious. relaxation in foreign investors is really in preparation for privatization down the line and that is going to be a key component of the economic reform plan. execution of that strategy is the biggest issue. this is one step towards executing a privatization strategy. bring egyptwant to and because the contraction seems to have sped up. what do you attest to that? could it be that curr

freezeptimistic and oil deal is possible. oil prices are up by --. david is standing by for us in asia. i could stand here all day and nothing is really happening. i have really nothing to say. muted forn the most asian markets and close to three decades. looking at the split today on the msci asia-pacific. the 1000 against stocks in the region. they are split down the middle. there is about 6% smack on the fence. unchanged. volumes are quite flat. the trading ranges -- very tight. no one wants to take any big bets are ahead of the employment numbers out of the u.s. later tonight. for the week, we are down ever so slightly. .03%. or the the story nonstory across the equity markets. have a look at the fx. the u.s. dollar is a little on the back foot apart what we see from the japanese yen and the ringgit and the -- the renminbi. before i go, this is your story from the asian market. the bondff across market space, especially in japan. have a look at the 10 year. there is your yield. we are very close to turning positive for the first time since februa

stay with oil, look at prices.an see it dipped after the international energy agency said the oil wealth will last longer than previously bet. says it will probably linger until late next year, but more on why the forecast was changed, let's bring in julian. we are heading toward the julian: thousand for global oil demand has been cut back significantly, particularly for the current quarter. they have revised growth from about 1.2 million barrels a day to as little as 800 barrels a day, based on preliminary data for july and august. they have rolled that forward and trimmed their demand for del potro much. it but by not much. that has pushed the markets like into oversupply at least until the middle of 2017. mark: it comes after opec flipped its forecast of arrival supplies to next year, predicting the increase from outside the group. julian: both of them have flipped their forecast from one that shows balanced returning in the current quarter 20 chose balance now being put off for four months. interestingly, they

we this big increase in oil prices. 5% or so advance in those oil prices.een so many swings in the price of oil. have seen decreases, increases, decreases again because of this back-and-forth. in the long run, how much of a difference is it going to make? 3858.look at we will try to come up with a priest, never mind, we are not going to do it. , never up with a freeze mind, we are not going to do it. the trajectory has been higher. opec production is at a record. well above were they typically are at this time of year. this begs the question of, even if you do get a cut, long-term, how much difference will it make? i wanted to mention natural gas. it is still pulling back, even though it has paired declines. we have some mixed weather forecasts. there is a forecast for the supply got to be worked down to some extent. look at the estimates for --orrow's inventory data typically come and you get a buildup of closer to 100 billion cubic feet. one thing that has been supportive of natural gas prices more recently. meeting was a surprise. oliver: always a surpri

oil, and weken the should have taken the oil, isis would not have been able to form either, because the oil was their primary source of income. now they have oil all over the place, including a lot of the oil in libya, which was another one of her disasters. >> donald supported the invasion of iraq. >> wrong. >> that is absolutely proved over and over again. he advocated for the actions we took in libya and encouraged that gaddafi be taken out, after exley doing business with him one time. angie: how to the candidates fare there? to respond to the clip that you just showed on iraq, i'm sure the fact checkers are going into overdrive on that one, because it featured so prominently. but was interesting there for me were two things. one, trump repeatedly going after clinton and saying the islamic state basically went from a baby under your watch to the monster that it is now, operating and all of these countries. he had her a couple of times on that point. there was also another thing that i found very interesting was when clinton said "i can build alliances, i can work with our allies. we

rock layers to extract oil and gas. opec produced a record amount of oil last month, despite continued losses in nigeria and pushed the nations total to 33.6 9 million barrels a day. the surge comes ahead of informal talks later this month in algiers, where an output freeze is likely to be discussed. saudi arabia would welcome a deal, but only if oil producers would limit production. seeking reduction in order for the prices to go up. so that not just we, but within opec of course, iran and iraq are equally obliged to production. yousef: d is outgoing rbi governor -- india outgoing rbi governor called for a strong central bank. he says multiple levers of scrutiny that don't have technical understanding will only hurt the rbi decision-making. we saw the overhaul of the banks history. switching to a inflation targeting and pressuring lenders to reveal that debts. his successor takes over today and will have to grapple with accelerating inflation and slowing growth. global news 24 hours of eight, howard by more than the 60

oil is higher. no longer worrying the credit market. >> never a fan of that -- what is it, like a fable? or what do you call goldilocks. >> are we or are we not. >> amazing we got to that place. >>> up next, hillary clinton may have just won over a crucial block of voters. we'll tell you who they are and what it could mean for the markets. >>> plus, check out shares of intracellular. that's a real livestock. it's down 70% in the after hours session. this is a $2 billion company. so what is taking it down? we'll tell you right after this break. >>> and later, a strange and rare market anomaly could be signaling a sell sign to the market. what it is and why you should be concerned when "fast money" returns. do you worry if you've saved enough for retirement? are you or your spouse 62 or older? a government-backed reverse mortgage enables you to turn the equity you've built into the retirement you deserve. with over 20 years in the mortgage business, lendingtree allows you to compare free reverse mortg

for more on oil, let's bring in our guest. still calling for oil hitting $80 a barrel next year.ught it was $60, right? we are looking for oil to be in the 60's by this year and 2017.ing by $80 by the industry does not need $80. supply can be managed in the 60's. ,f supply will be shrinking psychologically you could see $80.ment take oil up to >> can you walk us through that? given this iaea forecast, talk persistingupply glut , that would seem to be a big headwind for prices. what we mean? yes, inventories are high. inventoriesry of looks like it's heading in the .ight direction global inventories shrank in q2, are accelerating in the current andter and into q4 throughout 2017, so that is the recipe for higher prices. that we getumbers every wednesday from the department of energy in washington do not tell the whole story. that is only one subset of global inventories, may be as little as a fifth. if that is what the market focuses on, and the tendency is for excessive attention to be paid to these weekly numbers, that is not the whole story. gettingis the iea wrong? more think

oil.xplain what this deal will look like. >> i think this is really important news. there are details that need to be confirmed. parts of the market are rightly skeptical given opec's failure over the course of this year, even the last few years to come together and cooperate. this feels important to me. what we're seeing is there will be a cut or a limit on opec output from the 1st of november at about 32.5 million barrels a day. down from where we are today. there are a fusiew exceptions, libya and nigeria will be allowed to increase output if they can. that might add more oil. even with those additions, best case scenario, this means less oil coming out of opec than we were otherwise expecting. that means balances look tighter going into 2017. we should be drawing more of that big overhang of inventories that we built up over the last couple of years. that's constructive for prices in the end. >> richard, i supposed it's not just the detail that come people are skeptical about, but also

oils new don. a paradigm shift.greed an output deal, the cartels agree to limit production for the first time in eight years. the deal still to be worked on. isunderstand that iran allowed to produce but is this a boldface? anna: what will russians and americans do? , in itraghi's interview he said rates can rise when higher wages and stronger growth bring inflation near the ecb's goal. the fiscal latitude that he thinks the german government has. manus: can you imagine the -- new ining fiscally e-mail -- economic data with german regional inflation and the bank of england secured lending data that prevents andy -- any follow-up from the brexit vote. is the market slowing for real people? i am talking about the real economy quest -- economy. 2016 not going to be a vintage year for investors. charts.with good morning. we are talking about stocks going high, bringing up the gmm throughout the morning. one area is not producing such a risk and that is what is happening with chinese equities, projected to be down 30% th

oil prices will rise further after 2017.but this will spark increased production by u.s. shale oil producers, putting a cap on prices. many people are coming to the view that crude oil prices will hit a ceiling at around $60 a barrel. >> you can catch our report again online, together with the full transcript. look for nhk world and business wrap. that's a look at business news, i leave you with the markets. >>> colleagues of diseased belgian filmmake ver helped realize his dream. jill laurent was working on a documentary about the fukushima nuclear disaster when he was killed in brussels in a terror attack. his fellow movie makers came together to help make his final cuts. nhk world's nagao has the story. >> the citity of marseille in southern france hosted a film festival this july. one of the works featured was abandoned land. the documentary looks into the fate of a town called tomioka in the shadow of the nuclear power plant in fukushima. >> repeporter: the film combibi images of a nearly abandoned town undergoing decon

oil is boosting the markets across asia. if you take a look at what they are promising, a lot of people see a lot of upside. absolutely, angie. it has been an incredible few hours. a dramatic finale to what has caught the market completely wrongfooted. yousef: the expectation was that there would be no agreement, and exchange of views for a more formal agreement in siena. what they came out with what -- in vienna. there is 33 million barrels per day. together a chart for you so you can get the perspective. we are going back on an opec group level two levels we saw earlier in -- to levels we thought earlier in the year. how these production cuts are going to be divided. saudi arabia gave into iran in terms of letting them pump at will. they do not have to cut back. that needs to be discussed. they have set up a committee that is going to look at that and also the timeline of this brief is going to be set out later on in the years. month.oing to be a six revisited on a quarterly basis? what is the role of non-opec in all of th

of that oil. >> how are we going to take the oil? how would we do that? >> just leave a certain group behind and you would take various sections where they have the oil. they have -- people don't know this about iraq but they have among the largest oil reserves in the world. in the entire world. and we're the only ones, we go in, we spend $3 trillion, we lose thousands and thousands of lives, and then matt, what happens is we get nothing. you know, it used to be to the victor belong the spoils. now, there was no victor there. believe me. there was no victor. but i always said take the oil. one of the benefits we would have had if we took the oil is isis would not have been able to take oil and use that oil -- >> let me stay on isis -- >> -- to fuel themselves. >> matt asked how would you take the oil. the answer was you would leave a certain group behind. >> well, it just doesn't make any sense. first of all, it's not the 18th century. so we're not invading to seize things like this. but the oil that isis has been using is oil that's

not have been able to form because the oil is their primary source of income, and now they had the oilver the place including a lot of the oil in libya, which was another one of her disasters. >> donnell supported the invasion of iraq. that has been proved over and over again. he actually advocated for the actions we took in libya and taken out gaddafi be after actually doing some business with him at one time. angie: iran came up repeatedly. how did the candidates fair there. ? sure the fact checkers are going into overdrive on that one because it featured so prominently. donald trump repeatedly going after clinton and saying islamic went from a baby under your watch to the monster that it is now, operating in all these countries. he hit her a couple of times on that point. clinton said i can build alliances, i can work with our allies. we will go into iraq and take out islamic state there and squeeze them in syria. arabhen in syria with the and kurdish allies we will take islamic state on. that is the key point because turkey is bombing many of those kurdish groups. hopefully in the

gets things into control again, we will see much .ore control of oil prices then we can see oil pricesbove $65. you trade the scenarios? oil remaining range bound, you routs inroutes in -- saudi stocks. how do you put money to work? in the gcc, i do think there are many opportunities, specifically in saudi arabia. markets in saudi stock would obviously be a buy. is quite attractive. these are dividend yielding socks -- stocks. , more globally speaking, from a european perspective, stock markets are really at the highs. can they go further up? yes absolutely. it is still a risk stereo -- risk scenario. i would not ask too much of european equity at this stage. you have said that you think it is healthy that saudi arabia is undergoing this current economic shock. what is going to be the key risk that could derail this difficult transition away from the heavy reliance on oil? i think today, saudi arabia has a full-blown potential, because today saudi arabia's economy is mostly diversified. country,extremely rich and it has all of the tools it needs to transform as an economy. political wi

oil market.important from a sentiment perspective, clearly the breakdown in talks in doha in april has created a bit of distress among oil-producing nations and as result, a lot of effort has been expended in trying to restore that trust and credibility. the mere action of just getting together and showing coordination and unity on energy policy we think can be quite positive in establishing higher equilibrium price. yousef: while all of this is happening, saudi arabia has been pushing on with his reforms to -- it's reforms to diversify away from oil. part of the story is the saudi stock exchange relaxing some of the restrictions for qualified foreign investors. last time around, in december 2015, the interest was muted. we brought this chart that shows the amount of percentage of total, hovering around 1% around that redline. do you expect this latest series of reforms to be enough to really kindle the interest of foreign investors who have so much choice in the emerging market space? >> we thin

but oil inventories are not a con job. this number tells us that the reports that there's no more room to store oil may be greatly exaggerated. reports that we're overrun with imports may be untrue. it can't seem to pierce 40 dollar on the way down, it can't be possible. what happens? the whole oil complex goes completely nutty! as is always the case when the price of oil spikes, the winner is chesapeake, which rocketed up nearly 13%. it is one of the most troubled companies in the oil patch. it has a horrendous balance sheet and has had to sell-off properties to get ahead in the game. when you get a spike, that's a sign that you don't have to worry about chesapeake. can you take their viability issues off the table. and that's something that's gone on ever since it traded down at $1.50. while i like the firefighter style management at chesapeake, i'm not a fan of the stock because the balance sheet still is hideous. still, it's the second-best performer in the group that makes me cringe, that was in today's action. i'm ta

may have an oil freeze on production. will there be a ceiling in oil produced in the middle east? bloomberg. ♪ alix: this is bloomberg . i am alix steel. opec is going to cut production but this is why it may not matter to prices, three charts. this is the call on opec crude for 2017. this is a proposed cut, the market range we are looking at. that looks good, however if you take a look at adding nigeria and libya, which commerzbank thinks could be as much as one billion barrels of oil a day you are up to 34 billion barrels, more than demand needs. the other big part of it has to do with opec not being able to effect prices like it used to. this brings us to a pivotal point which is the cost curve. 2009white line shows in you had about 10,000 barrels of oil could only put -- could only be produced for under $80 a barrel. in 2014 you can produce as much as 25,000 barrels a day for under $80 a barrel. in 2016 you can produce as much as 35,000 barrels a day for under $80. shale had lowered the cost curve that opec may not be able to affect the cut -- price curve like it used to.

nicole: oil jumping 5%. phil flynn senior market analyst at price features and a fox news contributor joins us live on the phone with the very latest. disagreement leads to real deal when opec meets in november. they have a cut in eight years. >> i think it will. their facts have been against the the wall. they are losing a lot of money and they went to a lot of work to try to get the deal done. i think they feel that the market is going to be a balance and in the future they need higher prices. i think the deal is a declaration that they've won the production war. they are not worried about show producers right now and they feel they can cut pro production and raise prices. nicole: right now we see oil prices come down a bit. is there a lot of clarity or represent our viewpoint but they don't think the real deal will be done at the end of november. >> it's because of the insurgency. we were up 5% yesterday. we are going to pull back a little bit i think the people that address the needs of the historic natu

some people call it unconventional oil and gas revolution. i think many remain unaware of the magnitude of it and given the precipitous plunge in prices that began in 2014 got off the radar other than reports of how many people are unemployed or how many rigs i lost but the opportunity at the shale revolution, the kind of dynamic of the revolution is unprecedented. much of the book tries to reveal that. the revolution was not just another economic boom. it was on the basis of technological innovation access to the mother load of all hydrocarbons. they knew they were there when they were drilling in conventional vertical wells that allowed them to extract maybe only 1%, maybe only 10% of the actual resource trapped in shale. that is what is acceptable whatever the price of oil is, that is what is accessible and it was not a result of government plans or programs or subsidy. it was not the result of the global major oil companies, nothing wrong with them. this was an achievement of risktaking energy entrepreneurs whether they are geologists or

oil rising also to do with our predict interview.utin will seek a deal with -- russia will seek a deal. let's get to the bloomberg first word news and the russian president, vladimir putin has struck a console terry note -- a conciliatory note. a territorial dispute has prevented the two countries from signing a world war ii peace treaty but couldn't told bloomberg and an exquisite into that resolving the conflict should be part of trading -- >> we don'tstage. trade in territories, although the problem of the peace treaty with japan. we would very much like to find a solution to this problem. francine: cleveland fed president says there is a case for gradually raising -- unemployment and inflation. she cannot say processing when she thinks hikes will be necessary. florida is being hit by its first hurricane since 2005. her means top wins that's hermine's -- hermine's top wins have reached 80 miles an hour. orange juice futures surged to a high as the storm neared the sunshine state. global news, 24 hours a day, powered by 2600 journa

crude oil? and we did it in a way that we really set up a market. there's not a lot of bells and whistles in terms of government oversight or interference or anything. i think it's doing very well, and i'm very happy that we've brought balance to the world oil markets by repealing the ability of our domestic producers to export. you have any views on that? >> well, i think i would, in many ways, just repeat what i said last year in the discussion because i believe it's being played out. certainly the amount of exports, the increase in the amount of exports has been very modest. about 10%. because we used to export to canada. but -- and that's because in the context that we still import 7 million barrels. of course, what's happened is that there are customers who really want the light sweet oil coming out of the shale. so i think that's probably -- there's been some optimization of refinery operations in various countries by getting some of our light sweet oil. it's had some ironic changes and al

oil continues to be a factor. expressing, or not expressing willingness, i should say, to cut production. that is something that had been a condition of saudi arabia coming to some kind of agreement on production. we have seen oil very volatile in recent days, on developments surrounding this meeting in algiers. if you look at the s&p energy index over the past five days, you have seen a lot of zigzagging going on. it is of course partially a proxy for oil. it has followed oil prices all over the map on all of the headlines coming up from opec members. we have also been watching the 10 year push lower. it is at its lowest since september 7. that has been putting pressure on financial shares. election,ed about the the closest proxy, where we have seen the most reaction to polls, has been in the mexican peso. we are seeing the peso rise versus the u.s. dollar. the most romantic move coming after the debate last night, sort of during and after. watchas been the asset to that has been linked to the election. mark: 90

that is a misquote on oil. that is the wrong number on oil. west texas intermediate right now, we've got that. on to the vicks, it's back to normal. so much for complacency. we will get to that of a moment. futures are below 18,000. deal, to see that emerging market proxy and the adjacency of the united spades. carl weinberg is joining us in the next hour. guy: we are talking about the election and what's happening. we will discuss that a little bit later. let's look at the euro dollar. it's rarely budging. the bond market is waiting to see what's going to happen later on. we saw a big move friday. moving,e talking about but not moving aggressively. euroe down 1.8% on the stoxx 600 at the moment. tom: i like that positive yield. over to the bloomberg, a correction. do you remember what a bear market was? guy is too young to remember that. from the peak where we are right now, this is back over the last four years. off to the left of the chart is a little more volatility. the red is a bear market, 18%. it drives me nuts how people generalize th

>> the world's biggest oil producers meet next week on whether or not to cut oil production, and the news could send energy stocks tumbling. we'll explain. plus, how would you like to get long facebook for free? >> are you out of your mind? >> maybe just a little, but it is possible. we'll tell you how to do it. and -- >> money has got to be the shoes. >> shoes. >> shoes. >> you sure it's not the shoes? >> all right. maybe it is the shoes. nike shares have been

the oil. like every other operator in the region, big and small, larue's oil wells produce more water than petroleum. the gas and oil are collected in tanks for sale, but the water is too briny to be recycled or used. it's considered waste. and all of thi uh-huh. so it has to go back in the ground. we have to get rid of it. >> whitaker: getting rid of the water means sending it down a disposal well that's drilled deep below the freshwater aquifers - to prevent their contamination - and the zone where it came from. this is it? >> larue: this is it. >> whitaker: this is what all the talk's about? >> larue: just a well in the ground. >> whitaker: larue's disposal well is one of more than 3,000 in oklahoma. the state created a website to explain the earthquakes. the orange dots are earthquakes. when the price of oil went over $100 a barrel in 2008, oil and gas production increased dramatically. so did the amount of wastewater and earthquakes. what's causing these earthquakes? >> mark zoback: what

he didn't say guard the oil. he didn't say secure the oil. he said we should have taken the oil.me that he's looking at plundering, and that's against the american value system and the american way of war. >> general hertling, general kellogg, thank you for debating all this. >> thanks, alisyn. >> let's get to chris. >>> so last night the e-mail controversy that's being dogging hillary clinton, it came up. now, it is debatable whether or not the server story is a matter of national security. what did not come up last night may be the headline for you this morning. you see colin powell on your screen right now. an e-mail from him to secretary clinton that's been speculated on a lot is now here for our review. the facts next. i tried hard to quit smoking. but when we brought our daughter home, that was it. now i have nicoderm cq. the nicoderm cq patch with unique extended release technology helps prevent your urge to smoke all day. it's the best thing that ever happened to me. every great why needs a great how. "you don't want to live with mom and dad forever, do you?" "well...i'm

oil production pickup.we do not have that deal between opec and russia and that time, that is when we may see increase, start to but for now we have found fair oil prices. guest: the other big issue the stock market has been dealing with this week is deutsche bank concerns over its financial health. we have reports today that it will sell off at the life, but it denies reports it is preparing a bailout plan. powershares doing in the banking sector today? >> we are seeing a small rebound in banking shares today on the back of these reports. i'm not sure the rebound has much legs given that the near-term goodness have come out and claimed that these reports are false and the german government does not have an alternative to do so at a time when they are telling the italian government they are not able to step in due to the new banking rules. deutsche bank faces a very difficult issues right now. the number of oppositions being levied against it is enormous. just a long list of a number of issues it has dealt

kelly ayotte: paid for by big oil; voting for big oil. not working for us. dscc is responsible for adam: the state primary election is about two days away. only 20% of registered voters are expected to turn out. cherise: more democrats are expected to head to the polls. analysts say almost all the races are white open and if turnout is lower than expected, is anyone's guess who will win. adam: two candidates for governor are calling on the signed contract with dartmouth-hitchcock after the hospital announced major layoffs. on wednesday, the executive council signed off on a multi-million-dollar contract for dartmouth-hitchcock to take over operations at the state hospital. then on friday, dartmouth-hitchcock announced it was laying off up to 460 people. today, manchester mayor ted gatsas became the first candidate to call for that contract to be torn up, saying, "the new hampshire hospital provides essential psychiatric care, and our leaders in concord must do everything in their power to preserve these critical mental health services." mayor gatsas also sla

oil production lower.ry well knows that if they create a higher price umbrella, there will be a renewed supply coming out of the u.s.. put upto artificially the price is a strategy that might be a short-term gain for medium-term pain. for an investor right now, when i would definitively advocate is some form of selectivity now that we have seen the oil price bouncing back from the beginning of the year. case in point, in the u.s., we have seen a dramatic divergence andeen the -- investment, -- a dramatic drop in the production. market for more picking companies than the market for making big allocations in the sector. jean medecin, thank you very much. what is coming up on programming, john prescott is us.g to be talking to he is the deputy prime minister under tony blair for around 10 years. we will have a conversation coming up shortly. he had been talked of many times as the potential contender for the leadership of the labor party. he is talking a different game now. we will talk to him later on during