with that said, you saw a big move in valero today. if you are looking at technically, valero has been level and supported at 54, but tim probably agrees with halliburton, because goldman sachs added it to the conviction buy list, and this stock has a slow steady climb over the last couple of weeks, and that a name that could continue to rally and not necessarily on this news, but in the environment that we are in. >> tim, you are long halliburton? >> i am long schlumberger of the two that is the underperformer, but looking at coming out of the earning cycle, both of the guys cut dibs in the balance sheet and rationalize mode, and free cash flow is part of the story. so it is a slow rerating, and as we are following the brent prices, too, jammed between $42 and $43 in the last few weeks and this is a spark to take you above what is a technical consolidation, but i agree with everybody here, supply disruption has not been the trade here, and certainly not a trade to buy in the energy space in a bear market. it was in katrina, because i

valero is scattered equally between houston and northerly as well it's actually been not that bad. not going up is very simple these supply disruptions that are expected aren't enough to counter the sub squents drop in demand because everybody will be locked down. not because of covid but because of these twin storms rolling through. you have fires out west. everything else is going on. luckily marco has weakened let's hope laura does the same >> one follow up, it's not clear. maybe you can telldated informa comes close, that city, especially since they were so late to get hit with covid they are just trying to come out of that. >> houston is close to my heart. they are tough i was there during harvey. i was shocked at how quickly the city came back they said the city drains fast i said what do you mean by that. they said just watch six feet of water on a road one day. the next day it was gone they're tough. they're texans it's been 102 degrees. now you have these twin storms coming through they are back to back. this will be some of the fastest hits of twin storms in modern histor

. >> the whole valero gas station roof, you see the top of it ripped off. >> the good news is the storm surge appears to have been half of what was forecasted, which is still very significant. >> with daylight, officials are getting a true sense of the damage. some afraid of what they might find. >> most will probably be gone. >> the texas governor cautiously optimistic. >> the reports right now are fairly good, because the main thing is we have no reports of loss of life right now. >> early on it was clear many things wouldn't be the same as before. >> i'm glad we're all alive. that's it. >> looks like everyone around this area got hit hard. >> half a million people under mandatory evacuation orders in texas and louisiana. most paid attention. >> when they said category 4, that was it. >> but others decided to ride it out. >> why would you stay in harm's way? >> this storm is going across the state and going through some of the poorest areas where the houses are not built for this type of high wind. >> in louisiana the national guard is out assessing the damage and checking for people

valero, phillips 66 and exxonmobil just hours ago started shutting down all their refineries that are

valero, phillips 66 and exxonmobil just hours ago started shutting down all their refineries that are in the texas region. beaumont and the whole area. as hurricane laura's wrath unwinds right on top with more than 82% of gulf oil operations now offline. we now know where the powerful storm is headed and what it could mean for prices at the pump. by the way, exxonmobil, part of the reason stocks are see-sawing as the dow stares down one of its most epic shakeups ever. our floor show traders ready with their blue chip fantasy picks. >>> with everybody wearing sweats and pajamas at home, why is luxury consignment site the real real jumping 35% quarter to date? the ceo is here in a "countdown" exclusive on the hermes effect. the top-selling luxury product being used for a high end face mask hack and the happy face it's putting on shares of her e-commerce titan. >>> plus covid test results under 15 minutes? why you may want to go to the airport for your next covid test. how and where the company is pulling that off. less than an hour to the closing bell, let's start "the claman countdown.

as lake charles these are just the areas to keep track of marathon, exxonmobil in bay town texas, valeroas four across texas and louisiana. total and citgo and more bp, shell, and chevron removed workers from off shore rigs. the about 15% to 20% off shore production is currently off line actually not that bad b 300,000 barrels we are day on 10.8 million barrels thats why oil is not moving much right now. >> yeah. energy stocks tell will you are up nicely. to your point on oil, brian, i wonder if if, you know, what's different about this time is that the pandemic is still raging we're seeing rising prices in europe and asia. i wonder how you think about the demand picture which is starting to pick up a bit does it make this sort of supply issue that we could see in the gulf less serious or less of an impact on the price of oil >> i have to think of a clean word about demand. it is terrible jet fuel demand down still 40%, 50%. here's the other thing too h with the storms now, you have millions of people on a new lockdown, not covid-19 related, storm lockdowns. that has a subsequent hit on

a second companies, exxonmobil shutting down at least two refineries, biggest refinery shut down, valeroe all there. that beaumont area lake charles, that's going to be the center of the storm. kind of where the m in beaumont would be, thais the direct path. you can see there, that's the really hard hit area there is a few reason why gasoline is down right now one, gasoline inventories are higher than last year and can absorb some hit to production for a while. number two, you've got refineries that are staying open only running at 80% capacity they can make up some of the slack, guys. of course, demand will drop as people stay home because of the storms first, all the ports are closed, galveston, port arthur, et cetera, so all the ships are stuck. check out this from marine.com that is amazing. the dots, red, blue, green, those are ships. if you are not in port, you have scurried over to corpus christi or the coast of mexico because laura is coming right through. hundreds or thousands of ships all running away i think that, kayla, and sara, is an in verse map of that storm's path it's i

there's a valero, a couple others, they're all shut down protectively.ou see perhaps behind me the flairing that continues but there's no oil being refined here and perhaps if you filled up your gas tank in the last day or so you've seen a spike in gasoline prices because of what's happening here and it could only get worse, particularly if we get a direct hit from a cat 4 hurricane. maria. maria: all right. we'll be watching, jeff. thanks so much. jeff flock. we're checking in with you later on in the program for updates there. jeff flock in texas this morning. markets are searching for direction this morning. we've got a flat showing. the s&p 500 reached an all-time high yesterday, another record high. we're waiting on the federal reserve, chairman jay powell is expected to lay out the central bank's plan for curbing inflation during the virtual jackson hole conference happening tomorrow. ahead of that, markets are mixed to lower. joining me now is cfra chief investment strategist, stamp stostowval. great to you this morning, ladies. >> great to see yo