{"id":17671,"date":"2018-09-26T17:30:44","date_gmt":"2018-09-26T22:30:44","guid":{"rendered":"http:\/\/huewhite.com\/umb\/?p=17671"},"modified":"2018-09-26T17:31:32","modified_gmt":"2018-09-26T22:31:32","slug":"17671","status":"publish","type":"post","link":"https:\/\/huewhite.com\/umb\/2018\/09\/26\/17671\/","title":{"rendered":"Spiking Upwards?"},"content":{"rendered":"<p>Kevin Drum\u00a0<a href=\"https:\/\/www.motherjones.com\/kevin-drum\/2018\/09\/chart-of-the-day-the-brent-premium-is-nearly-10-right-now\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.motherjones.com\/kevin-drum\/2018\/09\/chart-of-the-day-the-brent-premium-is-nearly-10-right-now\/&amp;source=gmail&amp;ust=1538086722282000&amp;usg=AFQjCNHgwE1A4PK26XEo8Is_o-ecM3P2qQ\">meditates\u00a0<\/a>on the relative prices of oil:<\/p>\n<blockquote class=\"gmail_quote\"><p>The two most widely traded grades of oil are Brent Crude and West Texas Intermediate. Most of the time their price in the global market is close to identical, but for the past year Brent has been selling at a significant premium. That premium has bounced up and down, but for most of September it\u2019s hovered just under $10 per barrel. Why?<\/p>\n<p>No one knows for sure. There are some fundamental differences between Brent and WTI, but they\u2019re small and haven\u2019t really changed much lately. The best guess seems to be that Brent commands a premium when traders are nervous about the Mideast oil supply\u2014though I\u2019ll confess that the explanations for this don\u2019t make a lot of sense to me. Regardless, that seems to be the conventional wisdom: when things get worse in the Middle East, both the Brent premium and the price of oil in general get higher. And right now they\u2019re both getting higher.<\/p><\/blockquote>\n<p>I would suspect the <a href=\"https:\/\/huewhite.com\/umb\/2018\/09\/11\/an-imminent-crackup-ctd\/\" target=\"_blank\" rel=\"noopener\">unsettled political situation<\/a> in Saudi Arabia is causing a lot of edginess. This might indicate a jump in gas prices sometime soon.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kevin Drum\u00a0meditates\u00a0on the relative prices of oil: The two most widely traded grades of oil are Brent Crude and West Texas Intermediate. Most of the time their price in the global market is close to identical, but for the past year Brent has been selling at a significant premium. That \u2026 <a class=\"continue-reading-link\" href=\"https:\/\/huewhite.com\/umb\/2018\/09\/26\/17671\/\"> Continue reading <span class=\"meta-nav\">&rarr; <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17671","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/17671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/comments?post=17671"}],"version-history":[{"count":2,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/17671\/revisions"}],"predecessor-version":[{"id":17674,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/17671\/revisions\/17674"}],"wp:attachment":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/media?parent=17671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/categories?post=17671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/tags?post=17671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}