benchmark west texas in intermediate is $100 a barrel.ullivan will break that down when whene come back. >>> you can see the laggards e-bay is down 10%. pinduoduo is down 6% volatile trading at the opening bell "worldwide exchange" is back in a moment a vision for tomorrow. a fresh start. a blank canvas. a second act. a renewed company culture. a temple for ideas. and a place to make your mark. loopnet. the most popular place to find a space. (vo) verizon is going ultra! and so is manny! event planning with our best business unlimited plan ever! with 5g ultra wideband now in many more cities and up to 10 times the speed at no extra cost, the downloads are flying fast! verizon is going ultra, so your business can too. alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots. we going to the league! >>> w

thank you and go, west texas. madam speaker, i congratulate and wish alvin a happy 108th birthday. mr. howell grew up in snyder, texas, after hitchhiking to harden simmons university running track. he moved to kermit, texas, with his wife, reyna. following the attack on pearl harbor in world war ii, he served as commander on a merchant marine ship guarding the united states from foreign invasion. mr. howell returned to west texas after the war to raise his family, educate the next generation of west texans as a teacher in tula america. he credits his impressive longevity to spending time outdoors when he celebrated his 103rd birthday zip lining. what a man. he lived a full life, service to his family, community, and his country. he's one of the 20 oldest living veterans in the united states. he's an inspiring coach, a caring educator, and a true west texan. he was married to his wife, reyna, for 60 years. they have two sons, john and fred, and three grandchildren, and on behalf of my colleagues in this great chamber, we want to wish mr. howell a happy 108th birthday and many, many m

at the oil price, for example, that was up here on thursday by a good to percentage oil, it's a west texas intermediate that's good, straight to year in new york is above the $90.00 mac per barrel for the very 1st time. since 2014. we've also seen oil stocks profiting from that trend, but that is a one sector, at least them that is some on the upside at this point in court in new york. thank you very much. well, earlier i spoke with alison steward allen of international marketing partners in london, and i asked her to what extent facebook's troubles, especially with user numbers and advertising, were a surprise. this is been a slow build up at some point, or rather the users. the commercial model may be of facebook is up for debate. you know, tick tock is eating their lunch in terms of younger users who are abandoning the facebook platform. they're finding more safety perhaps through the other platforms instead of on facebook. so there have been a lot of little incremental things have been going on in that company, not least, it's corporate culture. you know, it wasn't that long ago, only

there's west texas up significantly. >> boy does this complicate the landscape. let's bring in the chief economist at citi. let's rewind to last night you guys are expecting a half point rate hike by the fed next month. then this morning's terrible consumer sentiment report what happens now >> thank you for having me on. seeing the headlines it emphasizes for me what inflation means for the feds and how different monetary policy is in an inflationary environment and we are used to fed policy that could react to any shock and bump in the road with external concern about growth, volatility in markets and the fed can step in and react and the issue with inflation is a constraint and needs to move to try to head off the higher inflation. >> this is a really important point and feeding the constraint is upward move in energy prices. who knows what will happen with natural gas now? and that adds to the upward pressure on inflation. andrew, again, where does this leave the reaction function? with everything that we outlined expect a half of a point rate hike >> i think

price for a barrel of oil, west texas intermediate is trading around $92, $93 a barrel.out to a national average gasoline price of about $3.50. and we haven't seen those kind of prices since 2004, before opec and the u.s. shale industry got into a price war, which sort of drove prices down because everybody was trying to pump more oil for market share. we got really used to low fuel prices in america. that's a long oil bust, and it has really altered the u.s. producers' ability to ramp back up quickly. you think about people who have left the industry, companies that provide services and equipment who may haveone out of business or scrapped old equipment during the oil bust. there's just not that much equipment there. halliburton's c.e.o., they're one of the biggest companies that serves oil producers and helps them get the oil out of the ground, their c.e.o. told investors they're already sold out of the equipment and the services they sell to u.s. producers in texas to crack open wells and get them flowing. >> sreenivasan: ryan dezember of "the wall street journal," th

crude spike more than 7 percent on monday, pushing prices to nearly a $104.00 per barrel while west texas intermediate jumped more than 5 percent eclipsing $97.00 per barrel. this, as russia provides roughly 10 percent of the oil on the global market. meanwhile, dutch front month gas futures. the european benchmark for natural gas prices rose by about 50 percent across the $135.00 euro is per megawatt hour mark at its high point on thursday. again for context here, russia provides more than a 3rd of the natural gas use throughout the continent. throughout the day, the price these prices have actually stabilized oil even depth, low $100.00 per barrel. once again, it should be noted at this time there has been no disruption of supply coming from russia. joining us now to dig into all a bit and live out the ceo of lip out oil associates, a pleasure to have you back on the show. now we mentioned that there has been no disruption as of yet to russian oil output. now with the commodity price being based on speculation, what are traders anticipating might happen that would justify these price hi

percent on monday to just over $91.00 per barrel just off high as seen in october of 2014 well west texas intermediate rose just under one percent to hit $87.50 per barrel. brent crude is on pace to gain 17 percent in january. that would be its largest jump in the 1st month of the year in 3 decades. rising prices aren't just having an effect on pocket books of consumers. either. chevron is reporting having its most profitable, yours is 2014 having made $15600000000.00 in net income in 2021. the oil giant has been able to take advantage of high prices amid the economic recovery, after losing $5500000000.00 in 2020, at the height of the pandemic and time now for a quick break. but when we come back, spotify, your spacing heat over, what critics claim is, vaccine misinformation coming from the platform, top typecast host. we'll discuss it as we go to break here. the numbers at the clothes with a managers financial supply. the guy titled by, hey, i guy, i'm a teacher's aid. i'm wasn't the friday. that's the last time i buy it from the teacher. so franco, watch kaiser, replace it's an open sec

and oil prices continue to edge higher with west texas intermediate closing in on $95.00 per barrel. while brent crude was near $96.00 per barrel on wednesday. not only is is the highest price we've seen in the international benchmark since 2014. but it also marks the year over year increase of 63 percent. now, past predictions looked at if and when oil would surpass $100.00 per barrel. some analysts are now looking to when it might hit $125.00 or even $150.00 per barrel. now, of the buying and ministration has spent months trying to appeal to other nations to increase their supply. it's the latest attempt to call on one of his closest allies in the middle east has fallen flat. once again, the world's largest crude export, or saudi arabia has renewed its commitment to stick bias. opec plus allies, which of course includes russia. now this comes days after president biden's phone call with the saudi king in which he called on the kingdom to help ensure the stability of global energy supply. so where do your prices go from here? we're joining us out of the gas or boom and david mckelve

saying in the energy sector, oil prices continue to store with west texas intermediate surpassing $90.00 per barrel for the 1st time since 2014. that puts the us benchmark up over 20 percent so far. this year. efforts are gains of 50 percent in 2021 alone. it also signals that a $100.00 per barrel oil is right around the corner with international benchmark. right? crude. over $93.00 on friday after i hit $90.00 mark earlier this week. but opec plus can, can you just say it's sticking to with current schedule is by months of pressure from the by ministration the cartels out on wednesday. we continue with the planned increase production by $400000.00 barrels per day and appears to be shrugging off concerns over ongoing geopolitical tensions all enjoying those profits as increased demand hits limited supply to joining us now discuss the latest david tall president approaching capital. david, it's great to have you on the show today. now we know that oil prices are officially a 7 year high here in the u. s. so what is fueling this latest rally and how fast you see that $100.00 mark approachi

this as west texas intermediate was around $92.00 per barrel. while oil prices are setting off alarms for some opec plus has made it clear that it has no plan to increase production, pass its current quota, especially at some cartel members have failed to produce the additional 400000 barrels per day in recent month. now the energy ministers of saudi arabia and iraq have said they're just fine with sticking to the current plan, indicating that they're also not too worried about oil hitting $100.00 per barrel. but the u. e. z energy minister is arguing that the market isn't under supplied at all, and that is the current tension driving up prices. now, as we've noted earlier in the show when it comes to those tensions, we know that we have the u. s. p u k. and the you moving forward with sanctions against russia falling its recognition of the don bass region. all of that is raising concerns that the u. s. could make it increasingly difficult for other nations to work with russia, which is the world's 2nd largest oil ex, border accounting for 10 pe

west texas intermediate hit a seven-year high of close to $91 per barrel which is up to 4% this weeklone. this is bloomberg. ♪ >> earnings season continues. bloomberg is fastest with the numbers and analysis. bloomberg, the fastest numbers and analysis you trust. jonathan: payroll is two hours away, from new york city, this is bloomberg surveillance. let's get straight into it, the pop on amazon goes a little bit and then fades. positive by 11.6% but it will not keep this market up on the s&p. seven weeks of gains on wti. year to date, up or than 21% and that is the headline. this administration probably doesn't want to see this, u.s. average gasoline price the highest and 24 -- since 2014. tom: we saw bank of england out front in terms of inflation worries. the number next week is 7.3%. unleaded gas, this is a standard that everybody uses. it is within half a penny of getting back to the record highs. suddenly, this cost-of-living story is front and center. jonathan: lloyds is 7.6. you can explain away disappointment on payroll by talking about omicron but as we go into next week, t

while west texas intermediate rose just under one percent to hit $87.50 per barrel, brent crude is on pace to gain 17 percent in january. that would be it's largest jump in the 1st month of the year in 3 decades. rising prices aren't just having an effect on pocket books of consumers either. chevron is reporting. busy having its most profitable years is 2014 having made $15600000000.00 in net income in 2021. the oil jaya has been able to take advantage of high prices amid the economic recovery, after losing $5500000000.00 in 2020. at the height of the pandemic and time now for a quick break, but when we come back, spotify, your spacing heat over. what critics claim is vaccine misinformation coming from the platform top podcast host. we'll discuss it as we go to break here. the numbers of the quote with a backside, financial survival. no, they came later. the electric with the central pac support going economy, going to call them right now. they stop the madness. it's an open secret that private military companies have been playing a role in our conflicts world wide. u. s. government d

at the end of last week, we were coming off seven straight weeks of gains or west texas intermediate and brent crude. the momentum has been strong. your to date danes, already up 20% and just starting the second month of the year. the pressures of the market are several -- the pressures on the market are several. traders say there is every indication we will go higher. on monday is the direction question --does a market pullback? do investors refocus? there was a lot of focus on the options contract above $100 a barrel. it is where the market believes it is going. another strong indicator is that the demand for diesel fuel because of the cold weather the u.s. is experiencing is at its highest in three decades for this time of year. another bullish factor. and the fact that acellena prices are at the highest we have seen since 2014. that is at the gas pump. that adds to president biden's concerns about inflation. we were talking about the supply issues from libya and other major opec-plus producers. the alliance continues to boost their promises to increase oil on the market overwhelm

west texas intermediate posting above the $95 mark, the first time since 2014.ling back about 0.5% as trading gets underway. it shows volatility is at its peak. brent crude also inching closer to $100. which is now the consensus among all oil analysts and major banks. the market spooked by the sarcastic comment from a ukraine official about the rest of the world, supposedly predicting a date for russian attack, which russia has repeatedly denied and all news organizations have reported they denied it. nonetheless, the uncertainty is pushing risk higher. a head of commodities research at citigroup says he sees oil perhaps going as much as 10% higher if russian troops were to mobilize and the ukrainian capital is involved. he remains bearish on oil. even if it goes to $100, a key reason he believes there will not be interruption or military action from the flow of oil and natural gas in and out of russia, he says both russia and european allies of the u.s. penned economically on that trade. he expects it to continue and therefore, the long-term supply-demand issue

let's look at west texas above $90 a barrel.t time it has been above that since october 2014. the spread with brent narrowing to less than one dollar. nasdaq futures pushing higher. we saw that impressive rout of meta shares. amazon and snap performing pretty strongly after hours. we will take a closer look at that and a moment. the yield on the 10 year pretty steady there, 183.78. shery: really earnings of two of the biggest tech mega caps in focus today. facebook parent meta shares more than $250 billion, the biggest market wipeout and a co -- wipeout in a company in history. amazon says it will raise its prime membership prices. let's start with amazon. how did they do? ed: $137.4 billion of revenue in a quarter that was disrupted. supply chain disruption stemming from omicron, labor disruptions and a shortage of labor, but a big beat on the bottom line. massive profit for amazon which was aided by the value of their investment in an electric vehicle maker. the sharp reaction in the shares was to the raising of prices of amaz

and speaking of tensions oil prices continue to have around 7 year highs with both west texas intermediate and international benchmark. brent crude sitting around $93.00 per barrel on monday. the already fragile markets are weighing the possibility of supply disruptions that the binding administration continues to warn about increasing tensions with russia . this comes with opec plaza struggling to meet its current production quota of an additional $400000.00 barrels per day. despite calls from the us to increase output even more now while summer of course, welcoming the increased profits and interview ministers from egypt and cyprus worn on monday. that while the reality of oil prices are passing, $100.00 per barrel is right around the corner. it remains a very scary concept, yet the market continued ahead in that direction. with report sighting warnings from the u. s. and its allies that a russian invasion of ukraine is eminent. however, as we've noted, both russia and ukraine are saying the opposite with moscow calling for diplomatic talks as soon as possible. and notably, the fear isn'

policy international benchmark. brent crude that just sends below $90.00 during the afternoon, while west texas intermediate actually gained on mondays prices more than $88.50 per barrel. now it's generally expected that the cartel will stick with its plans to raise output gradually by $400000.00 barrels per day in the coming month. but a recent report from an analyst at goldman sachs says price is sitting near $90.00 per barrel due to increased demand are actually creating a quote growing potential for a faster ramp up. so joining us now to take a look at the outlook in the oil industry, the boom bus co host, chris, the i, and kirk edwards, the former chairman of the permian basin petroleum association. kirk, i want to start with you on this, and i want to start with opec plus here. i mean, do you agree with goldman that market conditions are increasing the chances of the cartel actually ramping up the output sooner rather than later? and if not, what is it going to take for them to make a move here? well, it's very interesting because they could have done it all year long process got to 60708

benchmark. brent crude was up more than one percent nearly touching the $93.00 per barrel mark, while west texas intermediate jump nearly 2 percent over $91.00 and a quarter per barrel. now this as us crude inventories for the week ending of the 4th of february fell to their lowest level since october of 2018, according to the energy information administration. now, meanwhile, oil markets could get some relief in the future as the by an administration has been and talks with iran over the beleaguered g c p. o. way. now if you were to be reached, the u. s. could lift sanctions on iranian oil, bringing more product into the market. now obviously the issue of high oil prices affects the u. s. the most as it consumes the most oil. if any nation accounting for roughly 20 percent globally, china, which is roughly 4 times the population, consumes 14 percent of the global oil supply, followed by india, japan, and then russia. and as gasoline prices in the united states approach an average of $3.50 per gallon, a pair of democratic senators who are up for reelection mind you have called for suspending the

and while it was mentioned at the top of the hour that we are seeing west texas prices weaken just a bit as asian trading gets underway, we are still above $92 a barrel real -- a barrel. we closed above $93 for brent. that market is just running away from here. layer on some product -- supply outages from libya to ecuador to nigeria that will limit what opec-plus can do in terms of meeting the supply hikes they have agreed to each month. layer on the geopolitical concerns, whether it be russia, ukraine or iran's nuclear conflict. and then you have the facts that you have cold weather all across the north american eastern seaboard right now. and that is just putting a norma's kick in the pants for prices as we kick off the week. >> no wonder that aramco is raising prices to china and other key customers. in this coming at a time a we hear that china may need to replenish its stockpile. su: this is a very bullish company. saudi arabia care -- clearly taking advantage of the fact that brent crude is up 93, up, 90 five. what they are doing is a larger state owned firm saudi aramco announ

it presents a story of texas as about the west. texas is the west. you think of cowboys, you think of cattle ranches, you think of oilmen. and in the film, of course, it tells us sort of a founding story about in the beginning there was the cattle rancher and the cowboy and then his life and i say in the book, texas is a white man, constructed as a white man, and in this story, his life is interrupted by the oil man who comes along and you remember from the film if you've seen it the conflict between the cattle ranchers and the oilmen who eventually in the end come together and everything is harmonious, but something is left out of that. and what's left out of that, the person, the man, you could say, if we're going to continue with this trope, what would be the plantation owner. that is left out of it. people in the main, from what i've discovered, as a texan outside of texas, don't think about texas and the institution of slavery. texas is the west, it's the south west, but the southern part of it isn't really dealt with that much and people don't

wti west texas intermediate oil, you can see what happens throughout thursday, going above $100 a barrel for the first time since 2013. when biden made his remarks, which did not include sanctions for the energy supply, you can see how the crisis just fell away and disappeared, kind of reversing what we saw in equity markets. the story of supply disruption and inflation, a lot of focus on commodities like oil and gas when it comes to russia, but also soft commodities. this is the bloomberg agricultural index, hit a record high and between russia and ukraine, they account for 1/5 of grain trade essentially, we trade is about 1/5 -- wheat trade is about 1/5. what central banks might now do in terms of equity futures we see in europe, you see across the board futures down 4%. the s&p 500 with direct sales exposure to russia. when you think about europe and the actions it's been taking collectively, look at the euro futures and think about the opening on friday. caroline: let's get over to vonnie quinn with the first word headlines. >> the federal reserve still looks set to raise rates. offi

and oil is coming down, right now 4% at a relatively high level with $91.86 for a barrel of west texasntermediate crude. president biden is going to address the nation at 3:30 p.m. on the situation in ukraine and joining us is avon hearst head of global political strategy, geopolitical issues are what we usually talk to her about. and and wonder what you think first of all about the headline that drove markets higher today, tina. they seem to believe or put trust in the fact that the russians plan on pulling back a large portion of their troops. tina: i think that the markets want to believe that there will not be conflict and have taken what is more of a murmer as a signal. i do not think we are in signal territory yet, although i have been clear i do not think that the situation is inevitable. it's cautious optimism that is the best we can do. there are still over 100 battalions mobilized. matt: it seems like one of the demands from putin's administration is not really possible. they want to make sure that ukraine does not join nato, but isn't it part of the ukrainian constitution an