Drivers are paying more at the pump around the world. Prices for gasoline and other oil products like diesel and jet fuel have been rising in the US, Europe and Asia, as have been product cracks. The unwelcome shift higher in pump prices follows a jump in oil, which has climbed $10 so far in July to three-month highs partly in sympathy with a broader rally in commodities. Still, powerful fundamentals forces are at play in the Atlantic basin, some of them short term and temporary, but some structural and likely permanent.

 

Speakers:  Natasha Kaneva, Global Commodities

This podcast was recorded on July 28, 2023.This communication is provided for information purposes only. Institutional clients can view the related reports at  https://www.jpmm.com/research/content/GPS-4468929-0, for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.