This is CBS I on the world with John Bachelor.

Here's John Bachelor.

To the south of France I'm in Constable writing for the Wall Street, General Barons,

and other distinguished publications.

This, the eve of COP28 in the Gulf, however, we pay attention to the weather, always the climate,

because this is the third winter of war for the European continent, for all of Eurasia.

Two wars underway, and a third war threaten. And worldwide

prices affect not only the economies that are right now slowing, but also the least among us, the hungry and

those without resources. So I'm in a very good day to you. We begin with

Rent crude and the prices that you published at the beginning of November for the Wall Street Journal.

How are they today?

How does it compare?

Good day to you, Simon.

What day to you, John. Well, Brent Crude, which is the European Benchmark, Brent Crude Oil, $83 a barrel, which is very

similar to where it was at the beginning of the month of November.

It was maybe a tiny bit higher that.

It's come down a bit because as you mentioned, the world economy is slowing and so there's

less use for that. I don't expect that it will drop much further. I think

OPEC will make some production cuts and then we'll see it rise a little bit but expected to say above 80 going forward.

So now significant change despite the Gaza War questioning the, which you have to say, the stability of the Middle East and

now we moved to food. That was a major story with Russia moving to cut off the grain shipments out of Ukraine.

There was a workaround on the Danube.

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