On September 15, international crude oil futures saw a significant rise. The settlement price for the U.S. WTI crude oil futures contract for October delivery closed at $105.83 per barrel, up $4.44 (or 4.4%). The settlement price for the Brent crude oil futures contract for November delivery closed at $108.75 per barrel, up $3.07 (or 2.9%).

The sharp rise in international crude oil futures on September 15—with the U.S. WTI October contract up 4.4% and the Brent November contract up 2.9%—directly drove up both spot and futures prices for crude oil. This development significantly boosted bullish market sentiment and represents a major positive factor.

Crude oil is a key feedstock for gasoline production; the sharp rise in crude oil prices directly increases gasoline production costs, providing strong cost-based support for both spot and futures gasoline prices—a highly positive development.

Diesel is a downstream refined product of crude oil; the surge in crude oil prices directly impacts diesel production costs, providing strong upward support for both spot and futures diesel prices—a highly positive development.

Asphalt is a downstream refined product of crude oil; the sharp rise in crude oil prices increases asphalt production costs, providing bullish support for asphalt prices. When combined with the impact of asphalt's own supply-and-demand fundamentals, the overall effect is moderately to strongly positive.

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