as drillers across the united states have been lowering the number of riggs and service.rclays head of energy research commodities michael cohen. good to see you. i know you had one of the most bearish forecasts on wall street. 44 i think, on brent for the end of the year. do you take that higher given what we've seen the last few weeks in term of rebound in prices? >> yeah i think we will consider marking the market just on the last strength that we've seen. but we do believe that oil prices still are likely to go lower from here. i think there's a couple reasons why. we have to understand why we got here in the first place. you know, refinery margins have been exceptionally strong. we're in the dead of winter. and the market is going to focus on several indicators as to why prices are expected to be higher later on in the year. and the market has been very focused on the rig counts. so what we saw in the last couple weeks is rig counts falling pretty precipitously by about 80 or 90 riggs per week. but we think there's more important things to be focused on and that rig

and just to the east of that 108 between riggs and golf view house fire. the only thing getting by. your alternate is 124 instead. overall no major problems on the beltway. beltway at river, rolling along quite nicely for us. but again, biggest problem right now, 95 north bound after lorton road very, very slow approaching that scene. chopper going to be over the scene in laytonsville coming up in a couple minutes. >>> if you lobbied to save the omni ride bus route between woodbridge and tysons corner your voice was heard. service on that route will contin. plans had public resistance at a recent hearing. >>> if you can't wait for a new look for the alexandria waterfront you could be waiting a while. "washington post" says it could be many years before a lot of plan changes are put in place. alexandria city council plans to focus on infrastructure before changing the area's appearance. the council will talk about how to fix flooding in the meet nexting next week. >>> planlandon dowdy joining us. >> it will cost a bit more to visit the happiest place on ear

kimberly: breaking news from adelphi, firefighters on the scene of a car that slammed into a house on riggs road. the driver was trapped for a short time. the driver was taken to the hospital with nonlife threatening injuries. nobody else was hurt. 7 on your side with a consumer alert for drivers. hyundai has recalled nearly a quarter million vehicles because of a power steering problem. it involves model years 2008 thropuugh 2010. federal regulators say that a sensor glitch could disable power steering, making the vehicles difficult to control. according to aaa, prices at the pump have jumped $.12 in one week for stop the national average stands at $2.40 per gallon. in d.c., driver opinion average of $2.49 maryland $2.38, and in virginia $2.25. the man who took april-encrusted oscar gown in hollywood has returned it not out of remorse but because the pearls were not real. tmz reported that a man called them yesterday, claiming that he took the dress from lupita nyong'o's hotel when he noticed the door was open. he said he removed the perl's from the dress, took them to be a priest found ou

it was just before midnight thursday when police say a man with a gun tried to rob someone on riggs place a few blocks off the bustling u street corridor. >> about 10 minutes later we had the report of a second armed robbery in the 1400 block of swan street northwest. >> reporter: the assistant chief says they think it was the same suspect. an officer tried to stop him. the suspect ran. >> there was an exchange of gunfire. >> reporter: bullets flying on a busy street. the crime scene then stretched a few blocks to caroline street. >> a traffic stop i'm thinking, stolen car, whatever, something like that. i had no idea there was a dead body involved. >> the preliminary investigation indicates that the suspect turned the weapon on himself and he is dead. >> reporter: that's the timeline of events. we had questions. what is the preliminary information? >> it's information that we have from witnesses. >> reporter: where was the gunfire exchanged because we're talking about a couple of blocks? >> that kind of detail we don't have right now. as you know, we have investigators up there still tal

it's not clear how much longer they'll be here but olney laytonsville road between golf view and riggs road is closed. you'll not be able to get through in either direction. no clear update on when that will reopen. a few firefighters are about to lien the scene but that -- the scene but that doesn't -- leave the scene but that doesn't mean things are over. >> one quick question. seems like there's moisture on the road behind you. did their firefighterring efforts make more ice on the roadway there? >> reporter: i'm sure it did. they haven't told me that specifically. as i was walking up here, i saw a lot of slick spots. i fell. i'm okay but i did fall because there were slick spots from the ice. it is something to consider. it's very slick out here and the water from the hosts coming down is only causing more water issues. >> thank as lot, nikki, live in montgomery county this morning. >>> police in the district are now investigating a deadly overnight shooting death in northeast d.c. >> delia goncalves is live at that scene in the 400 block of brentwood road. deal yarks what else are

we did more digging and the same happened on riggs street and on t street a man said the same thing has been happening for a while. now all these folks are going to have their tickets forgiven the linda grant with the department of public works says each of the 109 tickets will not have to be paid. >> they'll be voided. you don't have to do anything. >> it turns out the $50 tickets were given to people who did not break the law. >> we'd like to apologize for the inconvenience and angst this may have caused. >> the tickets were written for the inspection sticker not matching but that happens all the time, and the man whose ticket started it hopes the city learns from this. >> check with your supervisor before you start writing out all these tickets! >> grant calls it a teachable moment for her department. >> when we think we see a violation, i think we need to be very careful that it actually is. >> seeing all my neighbors with tickets i figured something bigger needed to be done and you guys with your resources looked at this and could get it fixed. >> and the same officer's name was on

it happened in the 1700 block of riggs street northwest. >> we had a patrol officer that was in the area at the time, observed this part of the robbery, tried to intercede. the suspect fled from the area. there was an exchange of gunfire between the suspect and the police. the suspect was able to allude the officers initially. a short period after that, the preliminary investigation indicates that the suspect turned the weapon on himself and he is dead. >> makes are still in shock this afternoon and talked to nikki burdine about what they heard and saw. >> reporter: what first started out as an armed robbery on swan street in northwest turned deadly. d.c. police say they actually interrupted the robbery and as they were trying to make an arrest, the suspect pulled out a gun. they exchanged gunfire and the suspect kept running towards caroline street. police ran after him and eventually found him on caroline street. he was pronounced dead. the series of gunshots and heavy police presence were alarming to the neighborhood, including gerald harshaw who lives across the street. >> i understa

it was after 11:30 when an armed man robbed someone on riggs place. police think that man robbed another person on swan street near the u street corridor. police tried to stop him, but the suspect ran, then shot at police forcing a shootout. they found that suspect a few blocks away on carroll line street dead from a gunshot wound. witnesses told them the man shot himself. the area was blocked off until this morning. >> i'm just shocked about the whole incident as a whole. so that's shocking and i'm just glad that nobody else was injured or killed. >> police have not released the name of the suspect and say there is a strong possibility this is linked to other recent robberies in the area. >>> more crumbling concrete discovered today at at least 28 structurally deficient bridges in maryland and they are getting an urgent inspection ordered this week. >> reporter: i'm scott broom in arbutus, maryland, where urgent bridge inspections are turning up plenty more crumbling concrete. it's the 12th bridge this inspector has surveyed in the last 24 hour, part

it was close on midnight when an armed man robbed someone on riggs place. they believe the very same man robbed another person minutes later on swan street. police tried to stop him, but the suspect ran off and then shot at police forcing a shootout. then they found the suspect's body a few blocks away on caroline street. witnesses told them the man shot himself. police say there's a strong possibility he was behind other recent robberies in the same area. >>> two jurisdictions appear to be pointing fingers at each other in how they handled a mentally ill woman who died in custody. she died after being tased by fairfax county deputies trying to take her to alexandria where she had a warrant for assaulting a police officer. sources say alexandria officials refused to pick her up at fairfax jail. the fairfax county sheriff said she can't comment. >> it definitely is bothersome, unfortunate that people that are claiming to get information from sources that were there are providing information that there may be half truths, no truths, partial truths, but again

in laytonsville, 108 between riggs and golf view drive, only one northbound lane getting pie.r alternate 124 because of the earlier house fire. beltway at colesville, everything moving quite nicely. same thing 95 in maryland and bw parkway. a live picture of 270 coming up. >>> some good news for your commute this morning. a virginia bus service that was in jeopardy will keep running, but you'll be paying a price to make that happen. >>> and we asked what you grade would you give the oscars? most of you gave it a b. you can weigh in on the nbc washington facebook thanks for the ride around norfolk! and i just wanted to say geico is proud to have served the military for over 75 years! roger that. captain's waiting to give you a tour of the wisconsin now. could've parked a little bit closer... it's gonna be dark by the time i get there. geico. proudly serving the military for over 75 years. >>> a two hour delay today for warren county public schools. >>> you will need to spend a little more money to fill up your gas tank. aaa says gas prices are up because brood oil costs are up.

getting back to this question, okay, we're learning that when you run the compressors and the drilling riggs in communities, there's some air emissions, and there's some air emissions that potentially are harmful, how do we do that? how do we recover that vapor. lo and behold they're doing that, it's going to become a federal rule in early 2015. they're talking about water and well construction, you know, ensuring that the integrity of the well is good, if the integrity of the well is good, the the cement is solid, you're not going to have -- excuse me, wiewr not going to have fracking fluid coming up into the water table, you're not going to have people whose aquifers are suddenly super charged with methane gas and you have exploding wells. there are negatives. one of the biggest negatives that we need to confront is this issue of climate change, right now people talk about climate change, well, carbon dioxide is causing that. methane is a huge contributor. something like 30 times more potent than carbon dioxide, you leak a little, you're going to have problems, right now how do you make su

we think in our lower rig count, which will be down to six riggs, from the mid 20s, we think we can throttle ahead and still preserve the option for our future growth. when indeed things stabilize. >> you said in the call. we may not have seen the bottom of the correction yet. it's not like you are saying listen, under 50 is the level that you should decide to start things off. >> we have always drop a terrible job pricking these price swings. you know people asked me were you surprised by the price swing and to me it's like asking people in california were you surprised by the big earthquake. we knew the price collapse was a possibility. we managed the company for it with our balance sheet health. bullet when but when it comes, it's stemming. we are managing the company with a short-term focus with the balance sheet and a long-term focus on our asset hes and organization. >> you are not hedging here. >> we said it's a zero sum gain in the long run. we have our balance sheet that is the biggest hedge. there's times when you are ahead and behind in the game clearly, do i wish we were fully he

one happened on riggs place, the other on swan street. officials say officers actually witnessed the second robbery and tried to stop it but the man pulled out a gun and began shooting. they shot back as he ran. he was later found dead of a gunshot wound to the head. police tell us it looks like he shot himself. >> it's very unfortunate we lost somebody somebody lost their lives as a result of this. but it's not -- it's not -- like i said it doesn't happen every day, but it has happened in the past. >> police tell us the gun was recovered from the scene. the name of the suspected robber has not been released. >>> today a fairfax county judge decided the attempted murder trial of jesse matthew will begin june 8th. matthew's accused of raping and trying to kill a woman in the city of fairfax in 2005. just this weekend albemarle county grand jury indicted him on a first-degree murder charge in the case of hannah graham. the uva student disappeared in september. matthew was one of the last people seen on surveillance video with graham. her bo

one happened on riggs place. the other was on swan street in northwest. police say the man fired at them and they fired back. before they found him dead near caroline and 15th streets. witnesses reported the man shot himself. >>> just in tonight, the news4 i-team is learning more about the national impact of the smoke emergency that killed a woman on metro last month. we just learned that atlanta's marta rail service and b.a.r.t. in san francisco are having their ventilation systems audited by the national transportation safety board. it's part of the nationwide review triggered by trast last month's deadly incident in a tunnel outside l'enphant plaza. one of the survivors from that smoke-filled metro train gave emotional testimony on capitol hill today and news4's derrick ward was there. >> reporter: on capitol hill today, there was more information about why d.c. fire and ems radios didn't work during this incident. d.c.'s assistant fire chief said that metro's tunnel equipment designed to boost radio signals underground wasn't working. >> however, all

. >> if you look at the ultra deep water riggs, there's zero demand for these things.s, there's zer for these things. the cycle is so long that i think you're looking at a couple years before you see anything. meanwhile, both of these companies but rig have cash flow issues. that's why the stock to me is a don't touch. >> what about other consumer names that are ripe for a rally? tim seymour lays out one trade he's betting on. plus, the long-awaited third season of "house of cards" hitting netflix tomorrow. our own guy adami is getting a little too into it. earlier this week, i found guy snooping around in my office and acting really strange. >>> oh, hey, guy. what are you doing here? >> hey, mel. i'm just collecting my thoughts before the show. i'll be out in a minute. >> all right, hurry up, we're getting started. show time. >> okay. >> let me clue you in on something. mediocrity is where the world lives. it's the elephant in the room. but it's a dog eat dog world out there, and i will not be mediocre. say i'm mean, selfish? too bad. the anchor chair will soon be mine. she has no idea

riggs themselves are much more efficient. they are able to drill faster.ves being drilled are much more prolific. the way the operators are designing the well programs designing them in batches. more wells within that rug. -- rig. >> have we seen increased efficiencies out there in the american west? are they already starting to figure out how to get the price even lower? >> in general, what we have seen is the price peak in june, adding 780,000 barrels of output since that june peak. yet, we are down over 15% -- 50% on price. they have been reducing that breakeven point and there are cost concessions. >> it is through driving down the people selling to them. >> as these wells become more prolific, you are driving the creative cost down. >> comment on edward morris at $20 a barrel. do you agree with those models? >> anything is possible. we have reduced the price over 50%. we have come off 50% yet added roughly 780,000 barrels per day since that price peak. crude inventories at 80 your highs -- yourear highs. >> who was the marginal buyer of oil? is it how

. >> this company does not have young riggs versus say energy services.ut that doesn't matter either. one of the worst performing stocks in the s&p. i know people want very much to buy this every time they see the oil futures tick up. if you feel that way, buy exxon. just don't fool around with the balance sheet. it's too dangerous. >> now we want to move to pepsi. >> wells fargo knows they reported february -- they report february 11. pepsico, big presence in the halftime with katy perry. so then the question is do these things matter to brand? does it matter to drink? if you actually see an acceleration in a line item like gatorade, that would be very big. it used to be one of the great drivers. good yield, good management. why not buy some? not bad. >> continued pressure a bit from an activist there. >> well, on the board. maybe johnson on the board can get in. a very smart guy. >> johnson going on the board. that's right. >> and not distracted. >> you're absolutely right. i actually had forgotten frankly. >> how can you remember anything after pete ca

a lot of people built riggs in order to be able to get brazilian orders. >> their break even is wellher than anything we're talking about here in this country when it comes to fracking. >> being concerned that brazil doesn't become uber socialist country. >> i think you're absolutely right. >> i have to check the numbers. it's probably not far off. >> people talk about our oil companies that might be in trouble. no one can come in and take over. >> no. >> and that one -- i'm not saying it's going to happen, but i'm saying that brazil government, not stable when it comes to finances. maybe it's stable in terms of what the people united want, but jeez, in terms of business it's the number one worry. >> i don't know how much we want to talk about discovery, but it's hard to look past a 7% gain this morning. >> is it up that much, carl? it was a reuters story, which has been completely and categorically denied by fox, which said that there had been some talks between the two companies. the consolidation in this industry is not exactly something that would be unfamiliar to those who follo

looking at some of the tweeting stuff saying that they haven't cut enough yet and there's still too many riggs. people thought it's over. they're jumping the gun. >> they're rallying about 20%. >> what was it? about 43? >> about $10 higher than where it was. >> let's look at the ten year note which it also has rising yields positive for the stock market. it all has to do with what were all these markets seeing in the future that looked so scary and maybe if they were able to maybe bounce a little. let's look at the dollar finally against the euro and against the yen, 114, back to 114 on the euro had been down and there's the rest of the currencies. gold had a pretty good run. we talked a little bit about that yesterday. the world does seem more uncertain in terms of which currency to bet on since they're all -- everything but the dollar is going down. you wonder if the stock market does respond to what isn't 3% this year then where do you go? no yields in the bond market and if you're worried about stocks it's the first time in awhile i thought maybe -- i need some coins. i need some coins in

the industry has seen many riggs pulled from the productions and projects halted. u.s.ces slipping once again snapping three day of gains but a new report says the collapse in oil could be almost over. still 2014 was a record year for deal making in the energy sector due to the collapse in crude and our next guest says this could be just as busy -- just as busy a year for deals. joining us is neal managing director of energy search at suntrust. so we're just going to keep seeing this sort of consolidation because of the oil match. >> a lot of the smaller companies having to go away and sure up their balance sheet but you'll have it's cheaper to buy smaller companies than assets themselves. >> are you looking at companies with a lot of cash where they can do that and take advantage of the situation? >> sure right now it's certainly the best companies out there. the ones gaining the highest valuation. those are the best balance sheet out there. they're few and far between. the best examples are the majors. we don't cover many of those specifically. they're sitting on bill

. >> i think what will be gotten rid of so far, the runs to the litter in terms of the oil riggs.ith all the talk and highlight and scrutiny with the dropping rig count, falling rig count, not a drop of oil has been shut off from the production. still at 9.1 million a day. my only worry is the speculation about hurting the russians and they may turn tail to cut reduction. some was speculation around cutting back a deal with syria. people want to write off opec completely, you can't do that. they matter to a degree. >> so you go with putin. >> on the front of usa today today there's a story that suggests that putin has aspergers syndrome. where is this coming from suggesting he has aspergers? >> who? >> putin. i almost fell over. i think it's the result of a freedom of information act that usa today filed to try to get ahold. >> that's fascinating. need to look at that. he's a worrisome character for sure. >> that doesn't necessarily make him worrisome. just makes him very smart. >> that was based on a study done for our military saying that the russian president carries a neurolog

it's a measure of how many drilling riggs are actively exploring right now -- exploring for or in the development of either oil or natural gas in north america. a number of states meanwhile in a totally different story are probing the big anthem data breach. investigators are looking for possible ties to china but the data wasn't encrypted. that's my offering to you. >> it has to be something that we are looking at much more closely. >> why wasn't it encrypted? >> you have to realize if you are going to be the keeper of such sensitive data that it's your responsibility as a company to step it up. they con acted them immediately. if you're going to hold on to my information, credit card not my responsibility. approximate you're going to hold on to my social security number and tie that together with my employer and history in terms of my health and family's health you have a higher threshold and you should be looked at the same way the banks are in terms of safety. >> what can the hackers use? what can they get? >> there's already hackers offering to buy. they haven't seen this on the