The crack spread, a measure of refining profitability, is rising in the energy market, suggesting that consumer fuel prices may remain elevated. Market participants see a low probability (3.1%) of crude oil reaching a new all-time high by September 30, but a slightly higher likelihood (13.5%) by December 31. Geopolitical developments, OPEC production decisions, and global demand shifts are influencing crude oil price expectations. Operators are closely monitoring statements from key energy officials, including OPEC Secretary General Mohammad Sanusi Barkindo and Saudi Minister of Energy Abdulaziz bin Salman Al Saud.
Source: Read the original article
