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Photo by Jan Zakelj
Crude oil all time high predictions
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Asian refiners are set to almost double their purchases of U.S. crude oil in September compared to the previous month, according to a report from Business. This shift in purchasing behavior could put pressure on domestic U.S. fuel producers, as American consumers are already grappling with record high gasoline prices. The national average for regular gasoline reached approximately $4.10 per gallon in August, marking the highest level for the month on record. The increased demand from Asian refiners comes as crude oil prices have been in the mid-$80s per barrel, suggesting a tightening supply for U.S. refiners.
