Oil Prices Tumble as Demand Concerns Take Center Stage

Oil prices fell early on Tuesday morning as fears faded of Israel striking Iranian oil facilities and traders refocused on growing demand concerns.- The September monthly average refining margin fell to its lowest for the month since 2020, indicating that the downstream supercycle that was boosted by COVID-related disruptions and Russia sanctions is now ending.- Disappointing diesel demand remains a headache for refiners as US product supply of distillate fuel oil dipped 6% year-over-year in 2024 to date amidst declining manufacturing activity…