The WTI-Brent spread continued to trade wider last week, moving from $4.62 per barrel to $6.36 per barrel. Over the short term, the spread likely moved wider, as supply disruptions from Libya have persisted due to unrest. Despite last week's wider movement, the spread has moved narrower throughout much of 2013. In early February, WTI traded at points as much as ~$23 per barrel below Brent crude, but the spread had steadily narrowed since then to trade at current levels of near parity. The significant tightening of the spread since February has been a positive for domestic oil producers (relative to international producers), as it means that the discount they receive to international crudes has been decreasing.A long, long analysis at the link.
At Bloomberg today (a dynamic link; will change over time):
- WTI: $108.44
- Brent: $115.26
Talk about a misleading headline. It's accurate, but this guy should never have been arrested in the first place; had he not been arrested, a bail hearing would never have come up. This looks like harassment. My hunch: there are a lot more important things than "lying" about one's finances when setting bail. Call in Judge Judy.
Generally speaking, the more time the president has to twist the arms of Congressmen, the more likely the president will get the votes he needs. That was certainly the case with O'BamaCare. But with the Syrian Missile Crisis, it may turn out just the opposite. Case in point: an early supporter who has changed his mind. It may have to do with evidence. So far, John Kerry and the president haven't shown any evidence to the American people. Meanhwhile, Vladimir Putin has a 100-page paper out there. And now the videos of the "moderate" rebels who are Mr McCain's friends, over in Syria, will start showing up.