a big oil executive essentially saying we'll never hear a oil rally ever, yes, royal dutch ceo van beurdenays we have quote, "lower for ever" no wonder these oil companies are focusing on just keeping costs down >> back to you brian >>> bob pisani, long day, thank you. jim, you are our future now. what's your thinking >> we look at the year out trade. it is aconsolidation now, we are at the topside of that channel the story does not stay the same except there is a new rake of the demand part of it. it is still supply and it is opec that lost its power or maybe not loss but not flexing their muscles as much. oil is turning around 49 to 50 here >> that's a long oil etf in conjunction of wfti context. so so that trade you risks of 15%. $15 to make potential 35 so you start making money below 9 $85 and the most risk is the money that you put in. >> it does not seem like a widespread, maybe that's the normal >> i think the best way to think about it is on the percentage. >> that's right. >> obviously, this is a fraction of the price of a barrel of crude so instead of trading 50 bucks. you are l

powers shell to a beat, as the oil giant more than triples its profits in the second quarter ceo ben van beurden tells us the energy market is regaining stability. bhafrnlg bhafrnlgts. >> what we are seeing is a market cents essentially in bale market is growing fast probably more next year. and long-term supply is declining. >>> i think we need to discuss this astrazeneca story more. astrazeneca shares are set for their worst one-day loss this is not a small company. it happens on smaller companies this one had a market cap before the start of 64 billion pounds the swedish pharmaceutical company saw its combination lung cancer drug fail a key trial the news comes as astrazeneca saw a fall on pills. i was reading some copy, you were mentioned in this the point about this immunotherapy, immuno-oncology drug, it was supposed to be the brave new world for drugs. to fail a test like this is why the big reaction >> immunotherapy was meant to be the new paradigm shift for cancer treatment it is. we are moving away from chemotherapy to immuno-oncology. the thing for astrazeneca, it's late to the party.

beurden,s now, ben van the ceo of show. obsess over this bear market in oil. is it that shell continues to do so well? ben: thank you very much for the opportunity this morning. i think the company is in the middle of a very strong and financial transformation. if you look at the last four quarters, we have been running out of 38 billion dollar operating cash flow, less than $50 oil. last time, we did $38 billion, oil was at $100. we have been working very hard at taking down costs and we have been working very hard on upgrading our portfolio. we are a must on with our depressed men upgrading program, and of course, we have been investing in projects with very competitive breakeven prices, so altogether, the company, after the acquisition has been digested, is sort of reinvented and reinvigorated. generated 11 point $3 billion in cash, among one of your best quarters in the past decade, which takes me to the dividend. are you at that point where you can remove the dividend? this is a pretty substantial cash generation point. on the script dividend, they said w

yeah, royal duch's ceo, ben van beurden says, we have to have projects that are resilient in a world oil has peaked, lower forever, yeah, that's the mind-set, unquote. wait, lower forever? anyone want to buy oil stocks on that comment no wonder these oil companies are focusing almost exclusively these days on just keeping costs down back to you, brian >> bob pisani, long day, bob, thank you very much. all right, jim, you are our futures now guy. we usually call on you to talk about this kind of stuff so what's your trade what do you think? >> if he said that nobody's been able to predict the path of oil, if you look at the year-out trade, six-month-out trade, it's been in a very concise consolidation range, it's just pretty wide. and when it went through 50, it looked like 42 was going to be the downside, pivoted on that, and now on the top side of that trench so the story really doesn't stay the same, except there's been a new wrinkle with the demand part of it. but it's still supply, it's still opec that's kind of lost its power to jawbone -- maybe haven't lost it, but maybe haven'

van beurden tomorrow and we'll be back after a short break. >>> i'm steve sedgwick european autos in top gear lifted by results from daimler and psa with shares of the french carmaker topping the cac. >>> unicredit suffering a data hack sending shares lower. >>> return to battle senator republicans vote to reignite debate on ending obamacare as senator john mccain dramatically reappears following brain surgery. >> we've been spinning our wheels because we keep trying to find a way to win without help from across the aisle. we're getting nothing done, my friends, we're getting nothing done >> the pound is on a bit of a move seeing euro selling. so looking for these figures and we have them up exactly in line with expectations before 1.3% increase yearly figure of growth of 1.7%. uk economy has experienced a notable slowdown in the first half of the year service sector dominating. distribution, hotel and restaurants and film production are the main drivers uk economy 9% bigger than pre-crisis peak first quarter of 2008 industrial output down quarter on quarter construction, i think thi