David Uberti
speaker
81 appearances
1 recordings
1 series
first heard Aug 2026
last heard 2 Aug
David Uberti’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Aug 2026 with 1.
Appearances
what inventories are doing in places like China.
And I just bring that example up to show that if tea leaves are not there, if they're not offered up, investors will find tea leaves to read.
There's been these incredibly wide swings with each sort of eruption of violence that has happened in the Middle East.
We were in the 70s, even the high 60s.
Then we rocketed back up to 100.
Then we went back down to the high 70s, then hit 90 again recently.
It just sort of goes to show that even as the start and stop peace process plays out, the oil market is going to have this –
incredible bout of volatility going forward.
The volatility in and of itself could inspire some sort of energy inflation going forward.
Even beside that, if there is an increase in hostilities going forward, we could very easily see oil back up to 100.
We have two months before the next Fed meeting.
That's an eternity.
in the oil market.
But in terms of diplomatic processes, that's not that much time.
So we'll see what happens.
For now, at least, Warsh has some time to evaluate the extent to which that sort of energy inflation may or may not bleed into the core inflation that central bankers care more about.
The crack spread.
It's the sort of profit margin that refiners make when they're converting crude oil into gasoline or diesel.
And that has been high at times lately, right?
It's been almost historically high at certain points at times.
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