Behind the Markets Podcast · Friday, September 4, 2026
The ongoing situation with Iran and oil markets is highlighted as a potential wildcard for the next two months. While crack spreads are decreasing, WTI is rising, and gasoline futures are priced close to retail, any escalation in the Iran conflict could significantly impact markets.
“Of course, then we have the Iran war and oil. Um, crack spread is going down. So even though we have WTI going up, we actually have the futures in, now being put in gasoline being priced almost exactly, um, where the retail prices are about a dollar higher even though that's going up.”
“Now, again, Iran could flare it up more, and there could be strikes and that's a big wildcard in the next two months, I think.”