Analysts are forecasting significant increases in gasoline and diesel prices due to the ongoing U.S.-led conflict with Iran. Current U.S. retail motor fuel prices are already significantly higher than last year’s levels, reflecting a tight fuel market where any additional supply risks could further inflate prices. Prediction markets suggest a limited probability of crude oil reaching a new all-time high by September 30, but a higher likelihood by the end of the year. Markets will closely monitor developments in the U.S.-Iran conflict, as well as the Energy Information Administration’s forecasts and OPEC’s production strategies, which will be key indicators of future price trends.
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