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Stock trading because people are trying to short the stock. >> pete: while markets drop, croyle now surging above $100 a barrel for the first time since 2014. >> ainsley: here to break it all down for us what it means for you, your family, your pocketbook. the host of varney and company on stuart varney. >> good morning. >> ainsley: dow futures are down plunging. what does this mean for the american family. gaffes prices up. >> let's look at the impact of us here in america. first off gasoline prices will go up. the price of oil at $100 a barrel this morning. currently we have got about 3.50 f...

Sanctioned two big banks and began cutting off rush that from western finance. this is just the beginning. germany halted certification of the nord stream 2 gas pipeline that would connect germany with russia. the eu depends on russia for a third of its natural gas. a crisis in europe has implications for everyone, john. it's a global market for energy. any supply disruption from fighting or sanctions could raise prices further. brent crude 96 bucks a barrel. incident was near $100 a barrel. gas prices above $3.50 on average. expect $4 by summer. president biden pledged to use every tool to bl...

International price up 60%, £3.50 per therm, household energy bills already going up right now for a record. if this conflict lasts weeks or months, but could happen again in the winter. and that's not the end of it. food prices, too, stand to be affected. the conflict is likely to interrupt the supply of green from ukraine which is responsible for one eighth of world supply. wonderful grain. but the economy is also a weapon here, the windpipe before impact ordering fell on the russian currency, down to a record low against the dollar russians having to prop up the ruble using some of its war...

Have had world events, in the short term very bad for markets but over the long term things play out. what are they doing now? they're down in a big way. they were down in asharks europe, and now here in the u.s. it's not a surprise. it's also worrisome at the gas pump. jen psaki last night said this administration is sensitive to what we're paying at the punch, but it's going to get worse. we know that crude oil is up around $100 a barrel. we have not seen that since 2014. the average price of gasper gallon is $3.50 in this country. it could go to four bucks. you have that. these supply chain...

About $3.50. the expectation is we may see them move over $4 a gallon nationally and perhaps pushing $6 a gallon out in california where taxes are higher on gasoline because we're in a global market for oil and gas, prices are set globally, and what happens with the third largest oil exporter, russia, and how that affects the world oil market and the potential for sanctions and countersanctions, all of that right now is leading to higher prices. as you know, chris, we, the united states, and canada for that matter have not been pumping at capacity since the pandemic, i should say. prices colla...