molly is more leveraged to the wti discount.he fact of the matter is, we think there is upside relative to consensus in essentially across the board because, again, if we're right on those spreads -- >> right. >> -- there's going to be quite a bit of room for upward earnings revisions. >> got it. pavel, thanks. of raymond james. >>> parties at the pump may soon come to an end. let's get to sharon epperson for today's "pump patrol." >> reporter: gasoline futures that are traded here at the nymex have been climbing, up about 7% in the past four weeks. and those futures prices often indicate the price that you'll pay at the gas pump. higher prices could be ahead in this holiday season. we're looking at the national average for retail gasoline at $3.25 a gallon. now, that's down a penny from a month ago. but with demand usually picking up between christmas and december, it may be unlikely that we see the low prices we saw in november. we're watching also the statewide averages, and there are still five states where that price is bel

we think spread between wti, that $98 oil you talked about earlier in the u.s.brent and rest waffled which is 109. we think the spread stays high and refiners make a lot of money with that. cheryl: we're talking about opec an some say there are calls for 2014 production levels are unreal listtic, unsustainable. that basically they just don't, they don't get it. they don't want to let go of the fact they're losing prominence. what do you say to that? >> i would say it is less about supply and more about consumption. you look at a swing producer like saudi arabia, not that they can't produce more oil. the problem they're consuming more of their own product. less of it makes it out of the country. i would focus on demand, what i see out of opec, particularly like a place like saudi arabia. they don't need another arab spring so they're consuming more and more of their own product. david: john, happy new year to you, ned davis research analyst. thank you very much. >>> washington politics we talked a little bit about it, sent tremors through 2013 a bit the market sh

. >> wti, what's the trade here? >> i think you just stay long wti. uso is one way to play that.llers, esv, that's the way i like to play it. >> if you believe dennis and think rates will trend to maybe 4% as dennis predicts what, stocks should you be buying at this point? tim, where do you go? >> i would make a call and also agree with these guys. rates are going higher. i'd be buying the dollar, canadian dollar and aussie. if you look at what happened today, the canadian dollar weakened back to may 10, 2010 levels and the aussie continues. everywhere you should be selling if you believe this is where rates are going but if you want to do a macro trade in terms of country allocations, the yen will continue to weaken and korea, eyi and etf, can play the most industrialize the country, happening because of stronger industrial growth. >> b.k.? >> tim pointed out the most important thing is why are rates riseing? rates were rights last spring and the economy weren't that strong and the rates still rose. now it looks like we're starting to get better economic news so you have to go a

at fiveal gas, topping dollars, wti, topping at 100.l, thank you very much. we are on the markets again in 30 minutes. "market makers" is up next. ♪ >> live from bloomberg headquarters in new york, this is "market makers." >> housing health. the lasting economic data point of the year is out. breaking news on home sales. out of prison. the jailed russian oil tycoon still enjoying his first days of freedom in over 10 years. he speaks to us about the worst part of prison. eb

brent had held in a much better than wti. >> we saw the opposite.'t know how long it continues. specifically the resistance was 45, 46. the trade is well above it. >> we have been talking a lot on the show about bit coin and since the virtual currency to answer all your burning questions about bit coin. thank you so much for coming by. you cover actual currencies? >> real money. >> how is bitcoin different? bitcoin enthusiasts will say that sit a replacement. >> there is a university of digital coins and currencies. >> generates them. >> the nation state hads a monopoly on printing money. >> generated by computer formulas. same way that ben ber yeah key creates dollars. >> we want to answer some tweets. we got a lot of them. they want to catch up trades and they look at bit coin as one. the first one is from will w. does this really have a chance? >> money has many different functions. 6. >> the use of money is a stored value. if that is a value when it's va volatile. i think it could help supplement it. fir vin airlines was able to take bit coins.

energy still going strong with wti prices over $100. we're taking a look at the treasury market.ear at one point hit over 3% today. the highest level in more than two years. lower prices being -- bring in buyers. between the 10-year and the highest. the one stock we are watching today is apple. the iphone maker is renewing its patent battle with samsung. ofing the u.s. to ban sales more than 20 samsung products, including galaxy s 4g. smartphone top two makers have spent hundreds of millions of dollars in legal fees to try to dominate the market. the issuen was not for apple with beyonce's newest album. "queen b" bypassed the traditional route. scarlet fu joins me for the fallout. you are a celebrity geek as well. >> is close to my heart. >> what retailers are in the mix? >> amazon and target. exclusive distribution rights for the first week. it was one of the most downloaded albums, 600,000 albums don't loaded in the first three years -- downloaded in the first three years. amazon is carrying the digital version, mp3 available for download. it is not devoting prime real estate f

the spread between wti in brent was at its narrowest in nine days.is content with these prices and has agreed to maintain oil production at current levels. bloomberg is in the end that with highlights from opec's latest meeting in the commodity report. >> with the price of crude in north america, the bti surprise that the opec decided not to cut production today and keep things how they are. going or word, things might be very different. demand for opec supply is set to least as a few of the producers intend to produce more oil in the coming future. perhapserestingly, iran. the biggest development at this opec meeting is iran returning as a potential big player in the oil markets. that is not to say the minister was walking around with any kind of swagger. that sanctions might be removed and iran could reenter the oil market in a big iraniansmean that the could talk to international oil companies about how they do that. in fact, they are already preparing. >> international oil companies bp, conoco phillips. tothey also sent a signal saudi arabia toda

and yet we are seeing wti and nymx performing very well. saw a big decline, much bigger than ebs pekted, 4.7 million barrels and part of that we're seeing fewer imports thanks to the better production in places like north dakota and texas, all of the shale oil that we're producing, imports down about 9.5% from a year ago. nymx crude holding in above $100 a barrel here. we saw a decline in cushing, the delivery hub for nymx crude. a lot of the move has come this month for nymx crude. we've also seen gasoline having a pretty good month, as well. gasoline inventories were also down more than expected, the expectation had been for a build, and we saw 600,000-barrel decline, even as we're producing more gasoline at our refiners, as well, up above 92.5% production capacity. overall, that has brought up the oil and products today with the fairly bullish numbers from the inventory numbers, notwithstanding the fact that we have seen that the french refining strike come to a close, at least one of the major refiners in france, the other maybe soon to

the brent wti spread has had the highest spread level since this last december.f course, we have a strike in france and other issues that could keep this market well elevated. the good news is that the u.s. production at the highest level maybe ever which is what the energy and formation administration is predicting will happen. that is good news keeping the market somewhat held right now, but i will tell you right now, the concern to the oil market is that this could turn into a violent conflict in libya. the rebels are declaring themselves their own government. right now oil was supposed to be slowing. it is not today, and it may not be any time soon. be on guard for big spikes. dennis: libya is that big of a provider? get up they have been cut way back since the unrest. >> they have been, but he market anticipating that there would be back on line sooner than they will be. in fact, last week we had read deal that the rebels said that the ships would be moving today. that is not going to happen. the quality is very, very tight right now. north sea production if

we're seeing big unwinding right now in the brent wti spread.mber last couple weeks it would be buying brent, selling wti, that is all changing. we're getting oil from the gulf coast. down towards the gulf of mexico, down towards port arthur, texas. that is causing that spread to come up with a little bit. first draw down in supply over 11 weeks. that of course drove the, that drove the oil back up, we're getting out of that spread. we'll draw down inventories for tax purposes that will keep us supported for next couple weeks. a lot of it is seasonal. the other big seasonal sorry is natural gas. oh, my goodness, we had a big drawdown. over 160 bcfs today. that actually drew the market up. with a storm coming in, freezing pipelines keeping market high. lowest supply since november of 2008. so it will be a good one for gas. back to you. adam: thank you, phil. >> turning to stocks, let's bring in jonathan right now. the dow and s&p on track for the longest losinghe month of september. all this based on taper fears jonathan. are the fear flexes a li

russia watches the wti and futures more closely than do i.omy depends on crude oil, wti remaining above $95 a barrel. and if we have -- if we continue to do what we have been doing properly in the united states with fracking and are able to push crude oil prices down it puts pressure on putin and the russian regime. >> yes. and drew? >> i think putin at this point has credibility of miley cyrus, take a look at how bad it is in terms of what's going on take a look at why would anybody even invest in russia at this point given what we know about the economy? >> i would argue, he has the same influence as miley cyrus, if you look at what's happening in the ukraine. if you look at what's happening in syria. i mean this is a man who projected his influence in a remarkable way. he's punching well above his economic weight. >> well, sure. i mean take a look at from the adoption issue last year to the issues related to the anti-gay laws coming up with respect to the olympics he has zero credibility. the investment community is decimated in terms of b

you can also see the spread between brent and wti coming in quite significantly, about six points in the last two weeks because of that lack of congestion. cheryl: you know, tom, some of the stocks plays you're looking at are interesting is technology. technology and financials are two of the strongest sectors for 2013 performance. >> sure. cheryl: what is in technology, do you have any concerns about specific names or favorite name you can tell me about? >> you know in general i think that our concern is a lot of the momentum names, whether a google or facebook that has seen strong gains this year really don't have i think the staying power this next year to move forward. to jim's point. agree with his comments on evaluations, it is very difficult to find companies at attractive valuations right now if you're putting new money to work in the market. cheryl: tom you like cisco, don't you? >> we do. that is a perfect example, you're exactly right, cheryl of areas where we do see it. we think with a company like cisco you have a lower valuation, sustainable dividend they're paying out

what we've been talking to you about in the last 24 hours that has had a significant impact on the wtied to surge yesterday and have continued to climb today as we are also learning that we've seen the first decline include supplies in 11 weeks' time. that's why we're looking at oil prices at this level. back to you. >> great, sharon. thanks. let's bring in bob with a look at what's moving down here. we're back, bob, toward the flat line. we've been down, up. >> a lot of confusion about what's moving the markets. focus on the jobs picture. we had two jobs reports today and both of them moved the markets. we did get a housing report, october housing numbers, pretty good, little confusion on the prior month but focus on the jobs number. the adp number came out. jobs indications were generally strong. i'm simplifying. at 10:00, the ism services number came out and the employment component of that showed weak job growth, disappointing job numbers there. so how does the market we act? follow the situation, look what goes on here. s&p futures here, the strong jobs report at 8:30, more chance

this morning up 1%, 97.05 for wti crude oil prices.saying they will not raise production level even though iraq and iran will be produceing more. this morning the oil market looks like a believer. another dollar advance to 97.06. mortgage applications siting a fifth straight week. sharp decline in refinancing applications led to the drop. the mortgage application activity sank 12.8% in the last week. november comps rising 10.81% the second straight month for gains for the retailer. jc p krrks pecpenney says they sales. stock up you 10.1%. >>> in washington news, senator ed marky wants information from auto makers about security risks. he's asking companies about information on how to defend against cyber attacks and protect privacy on data collected on vehicles. a deal signed by the china technology could undermine washington defense ties with seoul senators feinstein and menende znchts a letter from the senator expressing concerns about the selection to build a broad band net work for a unit of south carolina lg. washington has long o

it does not necessarily affect wti, but it can impact the price. what do you see in 2014?e out of the market or could not get the supply, they are coming back in 2014. i think that libya gets up to full production. iran looks like it may get production if they keep going along. i think that we have iraq back to full production. we have a lot of big suppliers coming into the market that were not there in 2013. >> fair enough. i just want to turn to natural gas. do we see five dollars and what happens then? >> i do not think we see five dollars, but we will rally. i think we will get a cold enough part of the winter in the next three weeks to get natural rally once again. $4.77 ore get to $4.87. >> more constructive on natural gas short-term. take advantage of the recent increase. take you so much and we appreciate your insight. we are on the markets again in 30 minutes. market makers is up next. ♪ >> live from bloomberg headquarters in new york, this is "market makers," with erik schatzker and stephanie ruhle. all a twitter. shares have taken flight. we talked to an investo

also, we are seeing the premium of brent to wti come in significantly from where it was a week and ahen you look at the commitment of traders reports, it does look like people are trimming their net long positions in wti, though we have seen gains in recent days. still below the moving average. gold prices are holding steady here, around 1,235 an ounce. the market will be watching that very carefully. they are anticipating what will be done at the fomc meeting next week. >>> facebook is reportedly toying with the idea of adding a sympathize button as an alternative for users tagging their statuses with negative emotions. give them a hand. what other buttons should facebook be considering? tweet us as squawkstreet. we'll get your responses later in the morning. it does bring to mind the moment where you want to tell someone, i saw your post, i feel for you but putting a like on that is awkward. >> another example of this company trying to react to what the users want. it is a very fine company. this is a button. like just didn't fit a lot of scenarios. sympathize does. maybe you could

the brent crude wti spread coming in dramatically could be only the beginning with more oil down to the you, dennis. dennis: thank you, phil flynn. cheryl: of the largest alcoholic beverage companies in the world with the holiday party season underway, the spirits giant is looking to cash in. joijointly now is the ceo. good to see you again. we had this conversation last december about this is the make it or break it season for champagne and wine sales for you. how are you feeling right now? >> good. last year the premium continuing on, great for the spirits business and champagne. we do 32% volume in this three months of october, november, december. dennis: are you seeing good sales numbers? are you satisfied with what is happening in the market? there is a question of how much the consumer is willing to spend right now. >> most positive thing at the moment this is a lot of interest in brown's beers cooperatively the whiskey. jamison, these brands. what is interesting is $30 per bottle for the premium spirits and the higher age spirits. dennis: it is a smaller batch made. you are selli

that will help wti. it's rallying at the moment. it will probably narrow that spread without brent necessarily having to fall fast. so there are still big inventories. so you're fought going to see that spread narrowing to the same extent earlier in the year, i don't expect. >> what is going the happen to u.s. price? we keep talking about more u.s. production, more shale or dpas coming in. what is that going to do fundamentally to the market? >> well, i think it is going to build a structural difference. u.s. prices are going to be lower than brent because you've got transport economics. so you balance the cost of bringing crude from back end to the gulf coast. that creates a $5 to $10 spread maybe long-term. but the idea is that the u.s. shale increases can push supply down. i don't see that changing because it is high cost production in the u.s. and there are still restrictions on that export. >> just going back to opec, the official selling price of january crude to asia is the highest premium for two years, is that out of step w

help, and we are seeing their risk of first-rate golan, a lot of buying in the brent crude verses the wtito a holiday weekend, and people want to protect themselves. they're not doing it with options. option volatility is at the lowest level in history. even though traders are covering for the weekend, they don't expect any major moves over the holiday. the other one that, of course the moving big today is the heating oil market. heating oil was up not so much because temperatures are called, because of near record export demand. it appears that not only are we using a lot of diesel here in the states, but the expectations that demand is going to rise because of exports and a strong u.s. economy. %-yesterday, of course our recod natural gas law. a lot of people thought that after we saw that drop it would start to ease off a bit, but they are not right now. natural gas up again. another high for the move. back to you. dennis: thank you very much. and your friday media minute. so long katie talk-show. katie couric daytime talk show ends in june after only two years. abc agreeing to a killi

curry over at goldman sachs, he's basically keeping his brent crude forecast for 2014 at $106, his wtie is telling his clients that oil is on the cusp of a new cycle. he's talking about demand in the united states now bigger and faster, growing faster than that of china and india and that the pick up in demand in the u.s. is going to be the big driver behind what he's calling the new normal for oil prices in 2014. he's saying we're going to hover around these levels at least for a year. back to you guys. dagen: happy new year. we'll see you tomorrow, i hope. sandra smith, in chicago. >>> can a ceo save obamacare? the white house is reportedly under pressure to appoint one. cheryl ca sony is up next with a panel to debate this, they'll tell her what they think. the -- and colorado's going to pot, recreational marijuana starts this wednesday. details in the next hour of "markets now." welcome back. how is everything? there's nothing like being your own boss! and my customers are really liking yo flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in orde

highlights of this, they're talking about the wti spread, which we have looked at.t was around $17.55 a barrel at the end of november. it's down quite a lot since then. we have inventory data coming out today which may show a fall in the stockpile. the iea saying the estimate of global demand being revised up to 29.73 million barrels per day. the key thing about this is nonopec crude topping 43 million barrels a day for the first time in a decade. opec crude fell for the fourth consecutive month. smaller drops in nigeria, kuwait, venezuela, upsetting a higher output than iran, iraq and angola. opec ministers keeping their group outlook target unchanged. that's the latest on the iea. as far as european equities are concerned, slightly firmer this morning after falls yesterday. the ftse 100 down some 36 points. the dow off 52, as well. right now, we're pretty flat for the ftse 100, you can't recollect ra data. the cac 40 up 0.5% and principlively flat for the ftse mib. >>> north yot bo nathan bostoc left his position. british bus and rail operator first group stock up

. >> my pleasure be a dennis: in the ukraine, disappointing data out of germany sending the wti d spreadust getting crushed today, partly because some production coming back online at a time it will not be as strong. that is bringing down. but when you're in europe, what you are worried about is turning on your heater. once again over the weekend, this situation with the ukraine, both exciting and exceptional uprising we have had since the 2005 orange resolution. overthrow the government, a lot of pressure of course on the government right now when they turn down a deal to do a trade with the eu, russia had a lot to do with that. the last two times this turned into a cutoff of natural gas supplies so europe has to be on guard for a repeat. back to you. dennis: thank you, phil flynn. forget about liking somebody's status, do you sympathize with them? and new feature facebook may introduce. cheryl: and look at some of the winning names over on the nasdaq. some usual stuff, but tesla, charles payne watching your tv, we will be right back. my customers can shop around-- see who does good wor

being the top gainer for december on the heels of the big move we have seen in commodities, not only wtion and natural gas in particular so that is interesting and treasury yields stock 3%, you will see the highest we close not only for the ten year but 30 years since 2011 silly and so we saw the yield curve flat bed decent and important move for treasury yields. tracy: psychological one for sure. thank you so much. how about this? this gentleman is doing what the banks can't, getting fast cash, backing it by fine art and soaring popularity of asset based lending, next, a great guest to talk about it but first look at some of the winners and losers on nasdaq as we head to break. the chinese google of 4%, the dow was up 3 points. don't go anywhere. [ male announcer ] once, there was a man who found a magic seaell. it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ distinct talking c

. >> i don't know if it is so much wti came up too much, too fast, or the fact everybody was unwinding. the main feature was to buy brand, that with the trade going to the end of the year. now with supplies the u.s. at the highest level since the 1930s, production coming on and reversal of the keystone pipeline from pushing down is going to bring the spread back in. a lot of this what you are seeing is an offset. how much upside do you have? can we really push above $100 in that environment? probably not. this is the one if you watch while you are walking outside, because of the cold, another six-month high today. pushing for 22.90. the highest level since last winter. back to you. adam: thank you be at lori: also newsworthy as admin, eight tech giants teaming up to talk to the white house and congress. it has to please with revelations the u.s. spying or was spying on their customer data. microsoft and google joined by apple, yahoo, facebook, twitter, and linked into present a plan to the president and congress on regulating online spying and how the u.s. can put in place a worldwide

if i'm a refiner in the gulf coast, i can tell a importer of crude the price differential verses wti is going to be different because now i have canadian crude in the pipeline that all i have to do is open the valve. the same thing with lng. i think what we're talking about is that this mexican energy reform is really going to open a whole new strategic view of a regional energy matrix that we haven't seen before, that we as a region can certainly take advantage. i go back to 1/2 tachlt we're talking mexico, canada and the united states. collectively if you guys can get your heads together, certainly from the energy point of view, we can be a power-to-be. there was a headline from one of the news services about the energy revolution and how we're going to drown in oil because of all the oil that's going to be available. i think regional integration in north america, mexico, the united states and canada is very important for all three xhooe companies and also for this reform to move forward. >> if you play this out into the future after mexico meets its domestic demand, what can be in

. >> now, talking about the fact that crude has been unchanged, we're talking about wti, dubai of courseore exposed to how brent oil is doing, even if it's off his highs has still been high by historical levels. and by the way they're a hydrocarbon economy. if you want to know the best performing commodity of 2013 was, bill, it is natural gas in fact. so there are many ways in which dubai is benefitting. by the way, the non-oil piece of that economy is bigger than the oil piece in terms of gdp today, it's tourism, it's services, it's travel. and it's a hub to a fast growing part of the world. >> the fireworks display you're watching is on the pond island, the manmade island, the incredible manmade island they built seven years ago. at any rate, by the way in case you're wondering who put this display on, img, the american artists group. >> and the uae is the second biggest economy in the middle east after saudi arabia and so much smaller but so much more concentrated. >> fun stuff. happy new year there in dubai as we get ready to celebrate here in the united states as well. let's talk ab

looking at the gas price, and the oil price, i should say, crude oil, and at $99 still here for the wti. why is that lasting, because everyone says it will be way, way lower and it's not happening. >> a lot of supply. >> that's a good question, kelly. my feeling is we manage wealth for wealthy families and the first goal is to preserve wealth and then growth and income. from our standpoint, we want to play the energy way very safely and profitably, so we like the pipeline stocks, and mlp pipeline stocks yielding between 5.5% and 6%. with tax efficiency, so people looking for income out of their portfolio, are a little hesitant where the fixed income markets are going, i think they should take money from cash, or maybe bail out some of the fixed income into this area. >> rick santelli, as kelly pointed out, the 10-year tantalizingly close to 3%. does that become a resistance level? does something technical happen at that point? are you waiting for that? what happens when we get there? >> the round yields are always important, whether it's 3, 3.25, 3.5, so the answer is yes. even though i

wti closing at 96.60 today, down about 1% for the week. want to talk about nat gas ral holding above that $4 level despite this storm coming our way. it was ticking down. it hit a seven-month high yesterday and for this week alone nat gas up more than 6%. back to you, kel and billy. bill and kelly. >> i kind of like it. i'm not sure if you like it so much. with nat gas prices popping and crude prices sliding lower this week, what's the best way to play energy going into the new year. >> chris faulkner, ceo with breitling industry. the man they call frac master. >> they call me that, i don't call myself that. >> i don't call myself billy either. first of all, everybody thinks this is transformational technology that we're seeing that will make us masters of our own domain when it comes to energy in this country. >> i think it will, it already has. >> how long? >> we're producing 8 million barrels a day. we've upped 20% just in one year in our production. saudi arabia, for example, which is king of the hill, if you will, produces almost 10 m

i would say over 100 next year for wti, maybe 104.ow, it's not going to be too much. >> when do, you know, when does the oil boom or -- not the oil boom, but the energy boom have an effect on oil? i'm talking about natural gas? when does that start the cheap alternatives to crude? how long does that take to start turning that into a competing energy source? >> well, you know what it is, it's really not so much about the commodity as it is the technology. i mean, you know, it's going to be hard to kind of switch over a lot of cars or a lot of things that are running on fuel to natural gas. and as long as it's cheaper to make crude oil and gasoline and diesel and what have you and more expensive to actually make the technology to change all this around and people to turn that around, too, it's going to take some time. i think, like i said, prices for oil will go up not drastically. and it's sort of like inflation. we like inflation, just don't like inflation too fast. if they spike up, then we'd actually look for alternative fuel. >> i

we are watching what is happening in terms of wti prices. only a slight gain there.rgy information. we will see a significant increase in crude production through 2016. 8.5 will be produced until we get to 9.5 billion barrels per day. we are taking a look at natural gas losing many of the gains we got last week. it is down more than 2% today. we are getting some warmer weather forecasts. some profit-taking going on there. you have to remember, we do have plenty of natural gas. the latest report from the energy department also showing that we are going to see a big increase in natural gas outfits over the coming years. it will be up about 56% between 2012 and 2040. we are talking about this increase in production, having a great impact on the exports that we're seeing of liquefied natural gas, as well as natural gas through pipelines, to mexico and canada. we are going to see the u.s. become a net exporter of natural gas by 2016. >> in its eighth robotic acquisition, they are acquiring what they call the big dog. one of sefrt robots written about that can scuttlebutt

brent crude is holding up a little bit better than the wti market.lot to do with traders focusing on africa and southern sudan and concerns about what that will mean for oil output with the third largest reserves on the african continent. we are also watching natural gas. we are seeing natural gas prices continuing to climb. that rise has been sharp and severe over the last couple of weeks. back to you, sarah. >> share on, we are going to stick with commodities. coffee futures have plummeted this year. you may have noticed ta that th cup of your java has barely moved. simon bought me my coffee this morning but not looking at cheaper prices. >> exactly. i am holding a cup of dunkin and standing in front of a starbucks. if you were short coffee commodities, you did very well. it is one of the worst performing alongside precious metals as well as some of the ags. retail coffee is down only about 7%, 8% in u.s. cities. that's where they track it. beans and freeze dried coffee down only slightly as well. why is that? we asked mike nugent to give us some b

oil, the wti contract, which continues to climb here, well above $97 a barrel, and that spread betweenk. of course, we do know we did get a decline in crude supplies for the week, the first time that's happened in 11 week, but total petroleum demand is at the highest levels of the year, and that is supportive of higher oil prices. what does this mean for the pump? gasoline futures continue to climb, up about 7% so far this month. that's often a good indication of what you'll be paying per gallon for regular gasoline. so we could see higher prices going into the holiday. and we're also watching gold, because, of course, the jobs data will be key to where gold goes from here. but we're also looking at the impact that the gdp data had on the gold market, and we're looking at, also, the jobless claims numbers, better than expected, all of that putting pressure on the precious metal, and looking at gold down about 20 bucks right now. back to you. >> thanks very much, sharon. >>> we want to bring in bob pisani with a look at what's moving down at the big board. >> dollar pressure. even thoug

the price of oil, wti is at $98.95 per barrel. brent is at 111. the ten-year note, 3% on the nose. it's lower by nearly 0.25% on the price. euro/dollar, 1.37. the pound will cost you 1.65. the dollar is mixed and pretty flat. and the price of gold, this has been the worst year for gold in more than a decade. lower by 1.10. 1202 per ounce. >>> let's go across the pond. it's time for the global markets report this morning. ross westgate is standing by in london. good morning to you, ross. >> good morning to you, andrew. we are on the last trading day, of course, of the year here. and only half the markets are trading today. a number of them closed yesterday. already, the german, the swiss, the irish, the greek markets aren't trading this morning. we have a shortened trading session today, as well. london closing up around 12:30 local time. right now, advancers outpacing decliners 12 to 4. volumes are very, very light. the ftse 100 up around 15% over the course of the year. today, up 23 points. the cac 40 is currently up 0.3% and the ibex is fairly flat. let's show you where we have g