but will it last? rebecca babin is a senior energy trader at cibc private wealth. she gave me her predictions. i think the concern right now is really concentrated on the longer shipping time. the market is not pricing in that we actually lose barrels from the market as a result of what is happening in the suez canal. what it is concerned with right now and the reason it has risen 6% is because the shipping costs associated with travelling around the southern tip of africa to reach its destination adds around 15 days of travel time. it increases freight costs. and it has increased insurance costs. that is what the markets are pricing in and looking at at this point. the market has not entered a panic mode, as we have seen in the past with other geopolitical events, where it starts to pricing supply is lost from the market. right now it is a logistical rerouting, what we re seeing, and not kind of that panic and fear that we re going to lose barrels. that obviously can change
around 0.32%. some reprieve, but will it last? rebecca babin is a senior energy trader at cibc private wealth. she gave me her predictions. i think the concern right now is really kind of concentrated on the longer shipping time. the market is not pricing in that we actually lose barrels from the market as a result of what is happening in the suez canal. what it is concerned with right now and the reason it has risen 6% is because the shipping costs associated with travelling around the southern tip of africa to reach its destination adds around 15 days of travel time. it increases freight costs. and it has increased insurance costs. so that is what the market is pricing in and looking at at this point. the market has not entered a panic mode, as we have seen in the past with other geopolitical events, where it starts to price in supply is lost from the market. right now it is a logistical rerouting, what we re seeing, and not kind of that panic and fear that we re going t
is a state agency controlled by erdogan, has a wide sweep. the other is in opposition leaning news agency. both of them now are reporting the same result which is that president erdogan looks like he is about to get another five years in power. he has gone over that 50% line which is needed to be turkey s next president. kilicdaroglu, his challenger has been speaking this evening in ankara, talking about dark days ahead, he says the turkey. people have been taken aggravating here all day. as soon as soon as abating finished at five o clock, those ballot boxes were opened and the votes were counted. we expected it, always, to be a quick process can lead to two weeks ago, the first presidential election, which was also wrapped in with parliamentary elections. that time around, we saw queues at polling stations because the ballot paper were so long that some people were struggling to fold it up and squeeze it into the envelope they had to put it in to make it official. this time
negotiators locked in a stalemate with a little more breathing room. the treasury department estimating the u.s. will go into default on june 5th, giving both sides an extra four days to reach a deal. some republicans refusing to pass a deal unless their demands are met. what is at stake for millions of americans. 12 people taken to the hospital with respiratory issues. geo bonito standing by. the holiday travel rushes on. 42 million americans expected to drive or fly over the long memorial day weekend. more passengers expected to fly since before the pandemic. severe storms from texas to colorado could impact holiday plans. the warning about possible rip currents from florida to the northeast. rob marciano timing out. 24 hours after the founder of the oath keepers was sentenced to 18 years in prison, two members sentenced for their roles in the january 6th attack on the capital. martha raddatz here tonight. surveillance video showing an alarming school bus crash in south car
hello, i m matthew amroliwala welcome to verified live three hours of breaking stories, and checking out the truth behind them. let s start with two big political stories on the move today in the uk, the first regarding the current home secretary, the second concerning borisjohnson. the british prime minister rishi sunak says he believes suella braverman did not breach the ministerial code. the home secretary, one of mr sunak s senior ministers, was accused of asking civil servants to help her avoid taking part in a group speed awareness course after she was caught speeding. mr sunak says he has consulted with the independent adviser on ministerial interests and was advised that on this occasion, further investigation is not necessary. as for borisjohnson, he s ditched government appointed lawyers for his submission to the covid inquiry. it follows the news yesterday that the former prime minister faces a new police probe for potential breaches over covid lockdown restric