Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Wednesday, September 6th, and I'm your host Julie Morgan.

Oil futures are lower at this early hour

following a day where prices reached a new high for the year.

Enbridge reaches a deal to buy three utilities from Dominion, and Kroger is in talks to sell some of its grocery stores in an effort to get the Albertson's deal over the finish line.

Saudi Arabia and Russia announced that they're extending their voluntary oil production cuts through the end of the year.

The cuts amount to 1.3 million barrels a day.

Crude oil prices spiked on the news Tuesday, well over 2% to the highest since November.

Front month Nymex crude oil futures for

October climb to more than $90 a barrel.

At last check, those prices are coming in at nearly $86 and less than 90 dollars respectively.

If you remember just a few months ago Saudi Arabia cut 1 million barrels a day or

about 10% of its typical output.

The country's reduction makes up more than a third of the total cuts made by OPEC and its allies since last year.

Russia's voluntary cut is 300,000 barrels a day. Crude prices have climbed about 30% since mid-June on lower global

supplies.

Enbridge on Tuesday said it reached three deals with Dominion Energy to buy East Ohio Gas Company,

Kew Star Gas, and Public Service Company of North Carolina for a combined value of $14 billion.

The agreements will create the biggest natural gas utility

in North America.

Embridge said in a statement that the terms include $9.4 billion of cash and $4.6 billion of assumed debt.

Pre-market Enbridge is down nearly 8%.

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