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Transcripts For FBC Varney Company 20160517

Full report says na youll be shocked, the way they treated our troops. Lets see how the markets responded to, a, a collapsing venezuela, b, oil cuts in nigh gather yeah and a new fire breakout near canadas oil patch. Yes, we cover it all. Varney company about to begin. And where is the market going to open this morning . Probably pretty much flat or lower. Remember, we were up 175 points yesterday. Now, the situation is getting worse in venezuela. To be facetious, its a socialist country and theyre running out of other peoples money and its a political and a humanitarian country. They have a deal with china to trade oil for loans. Look at oil around 47 a barrel, close to 48. It hit 48 yesterday for the First Time Since november. Theres a back drop to the oil story. Nigerias Production Cut by 40 . A tax on Oil Facilities to blame. In canada, that wildfire turned back towards oil drilling facilities and thats another anxiety for oil supply and then theres venezuela, thats a huge oil prod

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