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Brent crude has recently traded above $110 a barrel after supply disruptions tied to the US-Iran conflict and the Russia-Ukraine war. Jet fuel and diesel prices have risen sharply, and refiners' margins have surged.
Oil majors are holding back on investment because of fears of weaker future demand, and OPEC+ froze its December target over concerns about a surplus after the war ends.
Tight refined product supply supports diesel and jet fuel prices in the near term. Expectations of a future glut and weaker demand could pull longer-dated crude prices lower once the disruption eases.
en.sedaily.comCho Yang-joon (CommentaryNov 2, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
