we are back with terry simpson of blackrock and ted alden from cfr.r oil? >> we are trading at the top of the range and you have had a lot of good developments if you are and oil investor. supply cut reductions from opec and people pricing in the expected supply cuts going to 2018. throw into the recipe geopolitical risk coming from saudi arabia. this is one of the risks we are at the top end of the range. francine: when you look at what the investors in oil traders are looking at how concerned are they about the upheaval in saudi arabia and how concerned are they this will have repercussions with iran and iraq? isto geopolitical risk always going to be a big variable for oil prices moving forward. keep oiltinues it can prices higher. at the end of the day there is still a broader story. that are demand and supply reduction is going to weigh out here not just the geopolitical risk. tom: i'm bringing this chart up. ted alden, this is saudi oil adjusted for inflation and rising wealth. it's an approximation. the math is a little squishy. we are back to