Fossil fuel importers paid an additional $330 billion for seaborne oil, fuel and LNG between March and August 2026, according to the Centre for Research on Energy and Clean Air (CREA). The report linked the increase to geopolitical tensions arising from the US-Iran conflict, which kept energy prices well above pre-war projections. Brent crude averaged around $93 per barrel during the period, while LNG prices in Asia and Europe also rose substantially. Market pricing is consistent with continued upward pressure on crude and scenarios in which oil reaches a new all-time high by year-end. Participants are watching US-Iran relations and possible supply signals from OPEC (oil-producing countries' group), including its Secretary General, Mohammad Sanusi Barkindo, and Saudi Energy Minister, Abdulaziz bin Salman Al Saud. Persistent tensions could increase activity in the December 31 market and raise the likelihood of new crude-price highs. The material also promotes live prediction-market analysis from Vera and invites users to sign up.