And welcome to closing bell. I am Frank Holland in for the judge Scott Wapner. We're live from post nine at the New York Stock Exchange. This make or break hour begins with a big comeback. Stocks, they're well off their lows as oil pulls back from a historic price spike that sent WTI well above 100 bucks a barrel. Here's your scorecard with 60 minutes to go in this trading session. You can see quite a bit of red on this board. You're looking at the Dow down over 380 points. The S&P down just over a third of 1%. It's the NASDAQ. We saw it very briefly peek into the green earlier. Now is just fractionally lower. Also take a look at WTI crude right now up almost 5%. And we'll look at some of the sectors as well here. Look at tech. It's up just about

a third of one percent. Energy up about a quarter of one percent, are racing earlier losses to move

into the green. Healthcare also holding on to some gains. While the financials remain the worst hit

sector in today's pullback and check out what's happening with the treasuries also, take a look at the 10-year.

You see the 10-year.

You see the 10-year yield right now at 4.13. A lot of talk about a lack of activity in the bond market. We'll talk about that and much more because we are all over the market. Come back in this final stretch of the trading day. But first, before we get to all the market action, we want to get to what's happening in the oil market. And for that, we turn to CNBC's Aman Jabbers, live in D.C. With the very latest, Aman, what is the latest here? Well, Frank, what we know is this G7 Energy Ministers meeting that everybody's been looking forward to is on the schedule now for Tuesday morning. It's going to be a virtual meeting, I'm told. That is, you're not going to see ministers all around a table somewhere making a decision. But if you're looking for the G7 to

sort of do a joint strategic oil release, that is the decision point where they'll decide

whether or not to do that. That comes tomorrow morning, East Coast time here in the u.s and what i'm told by

sources frank is the u.s position is this the u.s is saying that a release a joint release among the

g7 of 300 to 400 million barrels representing 25 to 30 percent of the 1.2 billion total barrels

in reserve would be an appropriate decision.

That is, the U.S. feels that's the way to go.

We'll see whether the other G7 nations feel that's the way to go.

And, of course, Frank, we'll watch to see if the market thinks that any action taken to release from strategic reserves

is enough to wet the demand that's out there

in the global market. Yeah, certainly a lot to watch there. Again, that meeting happening

tomorrow. Amon Javers live in D.C. Amen, thank you very much. Turning back to the oil market and

the price action, oil well off the highs of the day. Back below 100 bucks a barrel. Our Pippa Stevens joins us now

with much more on that part of the story. Pippa. Hey, Frank, it was a massive intraday move with WTI

jumping 30% overnight and hitting a high of 11948. Now trading at 94-94, up just 4%. That reversal coming

as the G7 energy ministers are set to meet tomorrow, as you just heard from

Aman Javers.

...