Fox Business Team coverage. Phil flynn is the man of the hour watching all the oil action for us so well get to phil. Lauren simonetti on market. Blake burman from the white house. Well have more reporting from washington. Phil, like i said you you are te man of the hour. You never saw a day like this. Take us through it. Never in my life. A lot of people watching this market never thought they would see a day like this. You have a perfect situation where the contract coming for delivery with no demand there is somebody out there right now that wants to sell oil and there is nobody there to buy it. In fact this is the first time weve ever seen this kind of situation, connell, and it could be a shortterm situation because you look at some of the back months and the price of oil, there are still relatively strong compared to the front month but this is a disaster. It is a disaster because opec didnt act fast enough to cut production. It is a disaster because u. S. Producers didnt pull ba
Meeting, many of us have been talking together but we cannot get done what needs to be done, only you and the administration can critically given attention of the saudis and flooding the markets adding insult to injury at a time when our economy is suffering anyway because of the coronavirus. So this meeting could not be more timely. I agree with whats being said about the importance of Affordable Energy to our standard of living and really we change the world as a result of the production of Domestic Energy here in improve the quality of life for a lot of people. Thank you very much. Youve done a great job. John, i agree, we were talking the other day that weve all done well and weve also kept energy very affordable, very, very affordable and a lot of it, we never had any problems, we will keep it that way. Do i see dan back there, i was lucky and i thought that look like dan. I want to thank you for convening this meeting. The Trump Administration working with the congress in the u.
Property law they passed in july. A very basic deal. Does not move the ball forward, but relieves some of the tension and maybe takes the threat of retaliation down a notch. This administration has been riven by divisions over trade policy between the hawks and the pragmatist. This may be one side the pragmatist try to get their case before donald trump. The story says he has not made a decision yet. David we have five people who should have knowledge of the subject. At the same time, there was a contradiction. We have seen this in this administration before. They do not always move as one. Michael you do not know who each person talk to so you do not know which side of the debate they are on. There is only one decider, and that is donald trump. He seems to go back and forth depending on what his gut tells him. This is certainly a possibility. What we are reporting is it is on the table, not that it necessarily happen. David s got perhaps informed by the polls, particularly in the midw
Stock buyback. You will hear it on this more than morning, monday, august 15th here on worldwide exchange. Good morning, good afternoon or good evening. Welcome from wherever in the world you are watching im Brian Sullivan thanks for joining us. Lets kickoff your trading week with the check of markets and your money stock futures are mildly lower on this monday down. 30 in the red dow futures off 137 points all this coming off a really nice few weeks for stocks. In act, last week, all of the averages were up 2. 5 or more. Small caps were the big winner. Russell 2000 up 5 last week. 18 in the last month. Something to watch bond yields are flat hard to believe, but true. That is the same level that the 10year treasury was back in midapril. All this fed stuff and sturm and we are back to the levels of spring in bond yields. Lets check energy and natural gas. Crude oil is lower holding above 90 a barrel. Aramco making more than 48 billion in net income last quarter. Natural gas, by the way
The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.