Cfo will join us first on cnbc. Staples and office depot higher in the premarket, reports two in advanced merger talks. First up Oil Prices Rising sharply on expectation of decline and u. S. Drilling activity. Bp posted better than expected quarterly results. Bp ceo bob dudley spoke this morning. I think its going to take time. Could be a long time. There is excess supply. U. S. Productions still growing. We see about the rig counts what its growing. And chinese demand of course great. Growth in china is not as high as it was. So we have stock levels filling up all over the world, tanks filling up. Wont be long before people putting them in ships and that take is along time to work its way off. Is there a lot of oil news today. Thats just one data point. I love bob. Hes late here. Theres already been a dramatic increase in the number of financial players taking down tankers. If you look at nordic and american tanker they will tell you that is happening now. Whats interesting and bob du