lauren: phil flynn, thank you for your day. >> all right.we are also waiting on another round of critical economic data. markets are data dependent right now it's all going to get started with the first labor related reportedly been up to friday's big monthly jobs report. the estimate is for 1000 jobs to be added up from 185,000 added in july. a check on manufacturing that the factory orders report out for july the number expected to rise by nine tenths of a percent although it would be down from gene's reading of 1.8%. who will also find out how the economy performing across the country and the federal reserve releases the latest niche book economic survey. all of that out later today. lauren: let's say you caught up on global markets. the shape that was down about 4.5% and a lower and a molar excess of 1%. one green arrow and south korea this morning. sandra: not big losses but the first ftse leading to the downside up 11 points. lauren: the u.s. is looking better. the dow jones industrial average within 80.0 pen though. sandra: let's look

we go to who else, phil flynn. he knows. phil, what is going on today. >> hey, dagen. you know what? we had incredible comeback in this oil market. you have to remember really reflecting two days for the price of one. even though oil prices are lower you didn't see impact of a settlement price yesterday. we made back of all of yesterday's losses which were pretty steep and based on the fact that global stock markets were falling apart. we had a big selloff in china. we had a big selloff in asia and europe. now we're coming back. we're coming back on the u.s. stock market so oil is regaining it ground. one market we don't talk a lot about is copper. copper is up 12 cents today. that is a big comeback. a lot, dagen i think is on expectations we'll see more chinese stimulus. oil traders like stimulus. that should be very friendly. are we at the bottom? maybe not exact bottom but i think we're darn close. >> phil, really quickly, do you think the oil market continues to trade off china? is it iran potentially or growth and here in the u.s. with the federal reserve potentia

let's bring in -- expected lowest weekend gasoline prices in a long time we are going to get to phil flynnicago, phil. >> more memorandum on gasoline prices if you look at would really prices chicago area the biggest one day drop we've seen since that refinery came back online, even in new jersey a refinery out back on quickly that is even putting down toward prices in the new york area, obviously low oil prices helping as well we will see if low oil prices stay low after we get energy information looking for a drawdown if they continue get do it see is a bounce back to you. >> coming up our first big clue what to expect from friday, august jobs reports revealed here next other headlines topping the "the wall street journal" this morning waiting on adp report eu set to stemminging swangs on russian i couldn't crane ran he rebels to keep pressure on kremlin south african gold uncertainty fish lego we'll profits boosted by asia out payses the growth of competitors in the to i market. we'll be right back. ♪ ♪ ♪ here is a simple math problem. two trains leave st. louis for albuquerque at the s

phil flynn standing by at cme. il, you have to explain this one because we've been talking about this story for some time an nobody was talking about this angle. i always think about platinum and catalytic converts but hello, we're talking about engines here, seven-year low for platinum? >> it is. we're bouncing back from this morning a little bit. but the thing is, when you look at these catalytic convert es, look at diesel specifically, they use more platinum where cars, for example, normal cars, with regular unleaded gasoline use more palladium. you're seeing that spread really blow out right away. the big question is, whether or not we have the capability to meet the emissions standards with the under technology. using platinum as that catalytic converter. we're seeing run to palladium because we'll use more gas catalytic converters. sandra: abn amro, precious metal strategist, that platinum prices could fall to $850 an ounce in the aftermath of this scandal. looking at 932. it has long way to go from where it i

price futures group energy analyst phil flynn watching action from chicago. the senior strategist for bgc partners as well. phil, supply is up. we learned that today. they have plenty of supply. >> right. trish: we look at weakness in china, weakness in the economy globally. so why did prices go up today? >> you know, i think if you look at the inventory today you have to take perspective and look at last week's report. last week's report, u.s. supplies fell by 5.5 million barrels, mainly because of a tropical storm in the gulf of mexico. we saw big drop in imports. guess what, the imports came in this week leading to the draw. if you look at last two weeks, we're still down on supply. so i think that is it. as far as china, i agree with you, there are fears they are slowing but it hasn't shown up in the oil demand just yet. their imports are near record highs. they continue to be. that may change. but it hasn't changed yet. it is more about fear of demand destruction more than reality. trish: 46 bucks, do we top out here at 50, where do you see this heading?

phil flynn standing by. good morning to you. >> good morning. obama administration coming out against a potential beau. it is really about politics. the obama administration said it should be the commerce department under his watch making the decision. in the 70s, nixon did put the ban in place to congress later confirmed it is more about politics. the export ban will fall but it will take time before it gets going. right now oil prices higher today but i don't think it's about the export ban. maria: phil flynn, wilbur ross, with talk about the export ban. if you think it should be lifted? >> i certainly do. why should an american companies have equal ability to the iranians. >> you with excel. at this point we should be blessed event. europe and greece for a second. he wrote an op-ed. let's talk about that right now. while the 40% of greek families either work for the government and their little effect did by the new proposals. >> what is going on now is the european central bank three revealing on portfolios in the bank. asset quality review a

john corpina here at the new york stock exchange and phil flynn at his cme. let's start with phil flynn was oil was nutty, interesting to see the back and forth. go through the day on what you saw there. >> i think early in the day there was concern about yesterday's sell-off in the stock market weakness, what it meant for oil demand. and we saw more concerns about demand when we saw big build in crude oil supplies. that number was probably overstated due to delivery problems in the gulf of mexico but the market didn't want to hear any of that. they were looking at the headline number, the mood was negative. late in the day when the stock market started roaring back and the headline coming out, from the pentagon, that china actually has sent navy ships into the barren sea when president obama is in alaska raising concerns about territorial disputes in that part of the world, mainly, of course, in the arctic sea, where there is a lot of concerns about trade, about infrastructure and, of course, about oil supplies under the sea. so the tensions are rising in th

melissa: phil flynn, do you think, this is 4% plan from jeb bush of course. yesterday trump was coming out with his tax plan. which do you think would be more effective for the economy real quick? lower taxes or oil? >> listen, i think oil at the end of the day, lowering taxes is a good thing. i like both of plans. put them together would be 6% growth, maybe. melissa: ding, ding. phil. good answer. david: good answer, but too safe. too safe. i say taxes but that is just me. democrats screaming out to joe, saying you are only hope. is the veep democrats best chance to stay in the white house? porsche hit with lawsuit over the death of actor paul walker. he survived the crash but he did not survive the car. more on that coming up. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they co

lori: phil flynn, thank you, sir. appreciate you taking the time. >> thank you.resident obama becoming saudi arabia king to the white house today. he's got more leverage with leaders than in years past. and booming energy the desert kingdom by half and this over a decade. the u.s. is now the world's largest oil producer. we only get 6% of our oil these days from saudi arabia now, compared to 12% back in 2003. that is compared to the eia. and joining me now is former ambassador of saudi arabia. he was appointed the day after 9/11. and also the author of the memoir desert diplomat. ambassador, thank you so much for joining us. >> thank you. lori: from the new york stock exchange, if it gets a little loud, investors very excited for the three day weekend, i'm sure you've been following the market moves in the selloff today. >> you bet. lori: but we invited you here to talk about the oil and the u.s. and the relationship with saudi arabia. so my first question is simply that. house u.s. relationship with saudi arabia changed now that we're not so dependent on their o

phil flynn in chicago with more. if we break $50 a barrel?t is the reason for the discrepancy between crude oil and gasoline? >> no doubt it has proven resilient, especially yesterday's stories you think would be bearish. u.s. inventories and ed are high for this time of year. also reports of course that president obama sealed the deal to overcome the veto of the iranian nuclear deal. usually that would be very bearish. what we see inside the number is the demand for u.s. gasoline remains resilient. global demand continues to stay strong and that brought us back up. the geopolitical story about the chinese ships in the bering sea showing that as well. the good news if you look at wholesale gasoline prices continuing to plunge and you will see labor day weekend prices continue to fall. this is the best labor day in almost five years. get out there and enjoy it this weekend. maria: maybe people have a bit of a vacation after the wild week. we got into a great debate yesterday about what this brings to the broader economy and there is a real fee

phil flynn at cme in chicago right now looking at energy.d morning to you. >> good morning, maria. for years you and i talked about peak oil. now we're talking about peak production. that is the big thing coming out of this story today. we're seeing signs u.s. energy companies cutting back in big way. these bankruptcies mean u.s. oil production may have peaked. this is very interesting because it comes at a time when congress is debating whether or not the u.s. should lift their ban on oil expos. it would help the beleaguered oil industry. if it doesn't happen, u.s. oil production may have hit highs for some time to come. back to you. maria: phil, thank you so much. of course if prices go the other way, perhaps the story reverses course. savita, i've been worried about this idea that energy companies in the shale area in particular are highly leveraged and they are either going to lose their credit at the end of fiscal year, november, or they will have to redo their credit lines. that will push some of these guys into bankruptcy. >> sure. i

phil flynn is that the cme group with more.eather moves in oil after the last couple of days. >> it is incredible, maria. a huge selloff overnight after the chinese data came out. leave it or not we're sitting in a good rebound over the last hour or so. part of that is because the european manufacturing data was also weak, which would really mean because of low inflation and weak data in europe we may see more stimulus and at the same time. some doubts about how weak the manufacturing number really was in china. "the wall street journal" came up with the report does that beware about reading too much into the number. part of that could've been because of the shut down a factory because of the explosion as well as the possibility of the soviet manufacturing neck today. maria: phil flynn at chicago. what do you think? >> oil had a major short squeeze. once we had 3750 last week, that was the magic button market exploded. we are basically parabolic. but you've got to watch as the $50 level. if we get through and sustain it, i thin

phil flynn, great to have you and thanks for the update.the stock market sell-off and commodities as well. scott walker, big news former director, on the fox business network with liz claman on "countdown to the closing bell". >> the governors, 31 governors, but getting killed, and governor perry going 14 years, governor walker's campaign in terrible shape. >> as early as tonight scott walker -- >> it is about money, organization, iowa, new hampshire to gain delegates to move forward, these debates moved big numbers, 23 million people looking at you in the fox debate and the cnn debate making impressions. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive? so you're a small business expert from at&t? yeah, give me a problem and i've got the solution. well, we have 30 years of customer records. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill out for

phil flynn, thank you. we will see you all a workup may not.oming up, no preference conference, no problem. why rate hike could be in place for next month. are people not talking about an october hike? we will be right back. ♪ . sandra: good morning welcome back it is monday morning september 21, with me this hour fox business dagen mcdowell, and societe generale robert, here are top stories bright and early 6:30 a.m. east coast, g.o.p. race tighter first pol since last week carly fiorina in the number two spot. to donald trump, and trump should be getting concerned support shaped bit, democratic sidehill hill made her first sunday show disappearance in about four years trying to show a different side of hers. but still struggling against bernie sanders, two days after clinton held event at university of new hampshire, sanders how old his own, saw a turnout of 3,000 people, as many as clinton's event who knew turning to markets futures pointing to slight gains we are off earlier highs, turning to sports a big weekend a big night, the green bay

phil flynn in chicago. phil: yesterday oil prices led the stock market down.ay they can lead it back up. yesterday we had a report from the energy administration that said u.s. oil output is falling faster than reported by 140,000 barrels a day. u.s. production default by 1 million barrels a day by next year. some analysts think that is on a low side said that could be a supporting factor going forward with inventory reports today. in oklahoma the american petroleum institute showed a surprise drawdown of 1.4 million barrels in the key delivery point. if we see the same thing in the e i a cindy. maria: we will watch that revamp. futures for stocks today, we expect a higher opening, we were strong curtis time yesterday and the market ended la were. do we holt at stronger levels this morning as we expect a 60 point rise for the dow, 20 points i run nasdaq. strategist she investment strategist jason jenner. good to have you on the program. wild swings last two weeks. >> i think you want to be buying, putting money to work in the market mainly because the operatin

maria: phil flynn at cme in chicago with all the action this morning. good morning to you, phil. >> good morning, maria. tell you what. amazing when you get light volume how one headline can really move the market. early this morning oil prices were really going down because of weak know in the stock market. mario's magic was wearing off from talk of qe and concerns about today's jobs report. when we got headline from "wall street journal" those chinese ships actually went into u.s. territorial waters we seemed to bounce off the low right when the headline came out. we were easing back a little bit as we get prepared for jobs. this market continues to be volatile today. maria: phil, thank you. phil flynn, looking at oil here. we will check back. hank, oil a huge story this morning especially ahead of long labor day weekend. do you agree with dagen and her point that something has got to give, consumer saving a lot of money at the gas pump and they are going to spend it. >> no question. timing couldn't be better, back to fall and school. holidays. reformu

neil: phil flynn, thank you very much. phil in chicago.antime, be careful all the praise you get. donald trump might be satisfied with the likes of paul krugman saying good things about him when it comes to things like economics but, be careful who you have on your side. his son eric trump was here a little while ago, this kind of support maybe isn't what you want. take a look. what is he? is your dad a moderate, a liberal? what is he? >> he is anti-waste. he just believes in efficiency. he doesn't believe in nonsense. he doesn't believe in waste. when you say 19 trillion around him, literally, his head looks like it will explode. neil: that was the son's way of saying his father would kel tom this type of stuff. he is not typical republican or conservative, all tax cuts all the time or love business all the time, particularly when it comes to, got krugman ace attention, that he would punish companies that outsource jobs and ship them overseas. it's a conundrum. realpolitiks reporter joins us. it is definitely not your typical republican p

phil flynn on what the drivers are and what we can expect at the pump. phil, they don't go down at pump as fast as the crude oil market. >> they don't. today that maybe different, charles. with the drop-off in oil prices, we're seeing one of the most significant drops inr bot in some time. the futures market are showing gasoline prices are down 10 cents a gallon on the day. in chicago, where we had the refinery outage a couple of weeks ago, that is flooding the chicago cash market with gasoline right now. we're hearing that the prices are down over 20 cents a gallon just today. in the entire midwest region, over 21 cents in the wholesale market. that's a major sell-off in one days, i think it's going to show up at the pump very quickly. >> phil, we've had the bounce early in the year, went from 40 to 60. we're tickling $50. if we can break out through there, i don't know, do you think we'll get a reversal to the upside? >> i think so, charles, you know, there's a big gap on the chart at $57 a barrel. when we broke down after the greece crisis and iranian

i said i wanted to check in with phil flynn as well as the fox business contributor.do you make of those in the oil market? what is the trade today? >> buckle up is the word. don't look out the window because it's a crazy ride. considering the fact we see turmoil in the market, relatively safe after the run-up is holding up relatively well. been above $47 a barrel as kind as a big support area for the number. we will see if we can hold that going on the rest of the day. as i look across the commodity markets, we definitely see fear come back into the market. you see that with the strength of the dollar, the quality in the bottom tier of little bit with the big rally in gold. definitely fear here. let's see if reality can overtake fear. we will have to wait and see. sandra: you are always looking at reports to see what the institutional players are in the market building positions to the long side meaning they are bullish on oil at these levels. but this volatility, what part are you kidding about any big players in the oil market, earning out or getting stuck upside d

price futures group senior a analyst phil flynn watching and, phil from the cme.long some drivers. jeff flock. your take on this. citi calling for $20 oil. how low do you think it could see a bottom? >> i don't think citi is right unless we get into massive global slowdown. i don't things are bad as people think. we're seeing resilience in oil. remember we had biggest three-day come back since 1990. believe it or not, even with the stock market down right now, we're seeing oil mounting a comeback, we could get higher in the day. why is that? we have baker hughes rig count. of the shows oil rigs wiped out five weeks of gains by oil rigs falling 13 this week. u.s. production could actually fall. mantra that u.s. production will stay strong all year is being questioned right now. trish: phil, the great thing about being an energy trader, never a dull moment there in the pits. especially now. >> never. breaking every few minutes, i'm telling you. trish: oil has had a wild ride but the good news, at least for consumers is, we have seen at least recently much lower pric

phil flynn on a day gas prices are going another way. often not in sync.nd the trend seems to be right now for johnny depp a reversal from his recent trend that it seems that america's love affair with mobsters is alive and well. take it from one who played a pretty good one on tv. what he makes of all this oscar talk around the latest gangster >> all right. it wasn't the number one movie in america this past weekend, but it was the number two and already giving johnny depp some oscar buzz, so compelling was his roll playing that the man who -- well, at least told on paper killed at least a dozen people, maybe more. hard to say, but it was -- well, it does not come to mind as a warm and fuzzy character and that that popularity of yet another mob movie shows that mob movies do intrigue, and he should know of course he was in the original, the godfather. good to have you, my friend. >> always, my friend. >> are you surprised of this? have you seen this movie? >> yeah. i've seen a lot of it. >> you knew the principle characters. >> yeah. i knew whitey. i met

price futures group senior analyst phil flynn joining me now. every day, phil, every day.uge fluctuations. why so big? >> you betcha. well, i think there's a lot of uncertainty. it's a war between supply and demand. everybody was focused on, oh, my goodness, demand might be slowing down, worried about china and everything else, now starting to worry about supply. today we got the energy information administration report that actually showed a big draw down in supplies, not many analysts were calling for that. if you look at important delivery point in pushing oklahoma, we saw major drop in crude supplies. that means the u.s. production is probably falling a lot faster than people think. trish: phil, as always. i want to stick with energy, talking about solar which is on the taxpayers' dime. you got a company soaking up our money and the administration wants to keep on giving it. so does hillary clinton. we're going to connect the dots on all of it, right after this. so,as my personal financial psychic, i'm sure you know what this meeting is about. yes, a raise. i'm letting

that board meets on friday and here's an interesting one, phil flynn tipped us off to if you look athe impact of this scandal platinum today hit a six year low, platinum is used in catalytic converters in diesel engines. 40% of the world's platinum is used in automotive, this is on speculation that perhaps this will have a chilling affect on the demand for diesel engines which is used in gasoline powered converters up 7% today. the tentacles of this thing have long fingers. >> we thought he was going to get a promotion, another contract. >> on friday he was supposed to get a contract extension. this happens to us in television all the time. we think we are about to be re-signed for a new three year deal and next thing you know we are in local cable access. >> we love you, thank you for covering that story. all right, we want to bring some breaking news as promised, we have cameras all over washington d.c. and we are getting another glimpse of the pulp, he is leaving the residence. there you go, he is shaking hands. this is the people's folks, we have called him that before. he has ha

phil flynn in chicago. what is your take on oil right here?i see a continual flood of supply as far as the eye can see. i am exxonmobil and i'm looking for any help in not holding that the price of oil. dagen: gasoline i can't wade because bullish on the impact of gasoline prices. you'll see have to stay below $2 by the end of the year. you will find gasoline with a one in the front of it and probably every state. >> talking about other than the tax cut effect. dagen: gasoline has been falling and you haven't seen the impact. it takes time to catch a period for people to believe the drop in gasoline this year. >> you are saying you are expecting the supply to continue and you still am exxonmobil. you're not counting the price of oil to move stock in something else. >> i don't trade it. they know how to take advantage. smaller companies going out of business. in the meantime the strong will get stronger, survival of the fittest. great time to take it and it showed the weakness of other people. it is a dividend two to one. 4% yield. maria: 4% is

maria: phil flynn, what impact do you have, a higher interest rate, and the oil market. >> that strongertion everybody, and a lot of different things sander made a great point, that becomes very important. have a lot of people baird up, the fact of the matter is getting back to the fundamentals, the inventory reports were bullish for crude, take that with negative positioning, you have crew making movements this week. as for the of that height, the dollar got stronger, the fed height, there'll be a lot of pressure to push oil down again. i will welcome that as an opportunity to see what transpires from that because in and of itself that it not be enough to push oil down given everything else that is going on. >> this is a good question to be asking what the energy trade is next. obviously the fed decision could be a catalyst for a big move in oil but also oil stocks on this announcement. i will go right to the energy sector because i want to know what will happen. a lot of people are looking for opportunity. this was supposed to be the growth sector, oil sold off, everybody got out. are

you phil flynn is with him. we got a view into the future and price of gold, did we not, jeff? >> i think you're absolutely right. in fact that was the only commodity that did anything today particularly after the move, right, phil? oil did nothing. >> we got initial surge on oil right after the announcement fed kept rates going and and gold basically only one that held on to any of that rally. >> i have to bring in the fed funds rate because that is where people bet what is happening next for the fed. >> absolutely. >> i have latest number 65% in december, 72% by january. do you buy those numbers? >> i don't. remember when you look at numbers looking at football line, where everybody is the about when it happens. >> you think the bets will change? >> i think they will change dramatically. we had these numbers priced in for june last year and the year before. this is a number that will change. if you look what the fed said, jeff, they're worried about emerging markets. they're worried about china. they're worried about lack of inflation. >> those are commodities. >> those are c

we have analysis from price futures group senior energy analyst, phil flynn. what is going on? >> hi, trish, right now you're right. oil prices are getting whacked mainly because of the fed. we're not moving on our own. we're moving on stock market. that concern about global demand slowing because the fed's worried about the global economy. that is putting downward pressure on prices. what is interesting. this comes even after baker hughes announced that the oil rig counts fell once again by eight. they have fallen three weeks in a row. they're falling dramatically. that is showing a lot of pain in shale path. that means less oil production. today, concerns about demand, not supply. back to you. trish: i love way you break it down, phil. thank you so much. always good to have you here. >>> no surprise, donald trump had pretty choice words of carly fiorina in new hampshire, calling out her tenure at hp where she laid off thousands and thousands of jobs. we'll look at mr. trump's business track record and bankruptcies. that's next. ♪ it's more than the cloud. it's security - and

. >> crude oil futures, below 45 dollars a barrel, still phil flynn in chicago with the latest. >> cominga moment after sell-off we are following stocks down yesterday, today we are rallying on concerns about lower u.s. production, a big report about a drawdown in oklahoma five out of seven weeks raising concerns u.s. shell producers cutting back in a big way back to you. >> phil flynn as "the wall street journal" reports oil companies bracing for cuts as credit lines dry up joining us the editor steven schwartz would did this over the weekend in usa today one of you're worries companies are going to have to redo credit lines going to force a number of oil companies into bankruptcy, tell us your big worry as relates to engenderienergy. >> at this point right now, look, we were able to kick the can, down the road back in the first quarter. when we had to redetermination, of the bank credit lines liquidity continued to slow with fed easy money a function of the forward curve that is to say, the industry was able to hedge, production, forward and bring that production now to the fore. now th

. >> thank you so much phil flynn prices at pufrn continuing to decline how much lower do you see themar end let's talk about that a debate going on would you expect energy prices to keep going low? >> i think they are under pressure maria here is the thing, if i was to ask, a 100 people i talked to question, do you think the next five dollars in oil up or down i think over 909% would say down a lot of negative sentiment in oil, even though inventory numbers have been better, people are worrying about in an side of things, anastasia made a good point last hour about saudis having hand on lever i am not sure i think way ahead of the curve here, if that ends up happening we end up hearing supply i think upset surprise, i think what i am saying here, you know i am bullish on oil not buying right here i do think greet opportunities to own it. >> lower before higher. >> for me watching the stocks, and i mentioned the other day, i'm watching oil services stocks, i am waiting. >> i will take other side just for discussion purposes. look at last three years significant number of welt fracking

>> all right my buddy phil flynn said this would happen. this in the case, but gas prices would eventually follow what is going to happen with oil o prices, look at that $2.33 a gallon, and moving down fast. ping 20 states or close to 20 states have gas on that and you know, prompting all of this -- how long does this last, and where do you see this going? >> you know, say free fall in the price of gasoline. prices have fallen 28 days in a row. unbelievable. where we're seeing the biggest drop believe it or not is indiana, missouri, and if you remember neil that's where we saw that big price spike a few months ago because that winery refinery. that spught down pressure on prices when demand is normally slow so a perfect recipe for lower prices. there's three states right now in the country where their national average today is below $2 a gallon. we haven't seen that since last february. so that's going to be a siphon good things to come and many other states. ting they're going to join them with gnarl average below $2 a gallon. but i don't

let's check oil with phil flynn and the cme in chicago delivering this conversation.ou are worried what is price the klein will do for the economy. >> it will do some bad things. we already seen 16 bankruptcys in the shell industry and by the end of the month we expect ten more. there will be a lot more pain in this sector. even friday it when prices went back to 60 a couple months ago, fourth of july, all of a sudden rate started to come back on line. we saw the biggest drop the rate counts than we had seen in six weeks, they fell 13 last week, believe it or not oil prices right now are down 76 but keep in mind that as from friday's close. action believe they would have been higher if they had a settlement price, brent crude is higher right now. maria: we will be watching. coming up congress back in session and its first order of business is to vote on the iran nuclear deal. we will tell you about it next. maria: welcome back. the migrant crisis in europe getting worse as the region's leaders a scrambling to find a solution. cheryl casone with the story and other hea

announce plans to acquire williams in a deal valued at roughly 38 billion dollars, cheryl casone in -- phil flynnbe the beginning. >> we're going to sea a lot more deals to the only in the oil space but in natural gas as well, williams major pipeline company that brings up oil, and natural gas, a lot of it from the shell they had a deal on table to buy back, another subsidiary that female part energy transfer made back in bottom line we need more to and an pipelines can't do that when price are low you need capital to do that that is why i think this deal is happening, so, we are going to see stronger players come in, apply weaker players the other thing is natural gas prices actually up today, because of the late burst of summer demand strong oil prices are actually down, those concerns about global economic growth, really weighing on the market today, concerns what imf is going to say what china is going to say overshadowing the fact major cutbacks in the engendering space not only shell, but a drop in u.s. can you please tell us fourth week in a row u.s. production falling supplies in u.s. hav