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CNBC Squawk On The Street February 16, 2016

Freeze. Our road map begins with global volatility continuing. Jim mcgoggin. And apollo and adt are in a deal. And the death of Supreme Court justice ascalia has creatd a firestorm. First up, stock futures jumping sharply. Saudi arabia, russia, qatar and venezuela agreeing to freeze output at january levels provide that other major exporters follow suit. Crude prices rose off their highs of the morning. Some analysts expected an agreement to cut production. Thats not exactly what were talking about now iran on the tape is saying, maybe, we still want our piece. Thats going to be the question, iran and iraq as well who is also ramping up production to get money, its an expensive fight it has on its hands with isis. Thats the big caveat that Oil Producers will agree. Before this announcement, brent crude was up as much as 5 . Its still higher. The bulls would say, at least were getting diplomacy. This is the first coordinated move that the major producers are doing since the pain began,

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