Brent crude oil prices saw a significant increase in the third quarter, rallying from $73 to $104, according to FX Street citing Rabobank. This sharp rise reflects growing pressures in global energy supplies.
Alongside the price jump, the 3-2-1 crack spread—a key measure of refining margins—also surged dramatically from $17 to $62. FX Street reported that this effective move from $90 to $166 further underscores the tightening conditions in energy markets.
For Japanese investors, these developments are particularly relevant as fluctuations in oil prices and refining margins influence energy costs and market sentiment, affecting FX and equities linked to the energy sector.