On September 10, international crude oil futures saw a significant rally. The settlement price for the U.S. WTI crude oil futures contract for October delivery closed at $102.48 per barrel, up $6.43 (6.7%). The settlement price for the Brent crude oil futures contract for November delivery closed at $107.63 per barrel, up $6.42 (6.3%).

The sharp rise in international crude oil futures on September 10—with near-month contracts for both WTI and Brent gaining over 6% in a single day—has directly boosted spot crude oil valuations. This represents a major bullish signal, characterized by a clear short-term upward trend and strong momentum for further price increases.

As crude oil is the core feedstock for gasoline production, this significant price surge has directly driven up production costs and supported a corresponding rise in spot gasoline prices, resulting in a strong price trend.

Similarly, crude oil is the primary raw material for diesel production; the sharp rise in crude prices has increased processing costs, creating expectations for higher spot diesel prices and reinforcing a strong market trend.

Crude oil is the main feedstock for asphalt production; the substantial rise in crude prices has pushed up production costs, providing strong support for spot asphalt prices and strengthening the momentum for upward price movement.

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