“Crude oil is
calming down, even with lingering tensions in the Middle East. As
parts of the U.S. recover from recent hurricanes, fuel demand may subside for
the next month or so,” said AAA Idaho public affairs director Matthew Conde.
“Of course, any escalation of conflict between Iran and Israel could quickly
disrupt the usual trend of lower oil and gas prices in the fall.”
West Texas Intermediate (WTI) crude
oil is at $71 per barrel, which is $3 lower than last week, $1 less than a
month ago, and nearly $18 less than a year ago.
“Refineries
continue to work through seasonal maintenance, and at this point, there aren’t
any major pinch points in the supply chain,” Conde said. “Fingers crossed for
more savings this week.”