Mumbai, Oct. 7 -- The US Energy Information Administration or EIA has stated that Crude oil prices were relatively stable in the third quarter of 2025 (3Q25), ending the quarter just 9 cents per barrel (b) less than they started, while refinery margins increased to their highest levels so far this year. In this quarterly update, we review petroleum markets price developments in 3Q25, covering crude oil prices and refinery margins. The Brent crude oil price traded in a narrow range in 3Q25 as expected increased production from OPEC countries offset geopolitical tensions. The Brent price began the quarter averaging $70/b in July, following the Israel-Iran 12-day war at the end of 2Q25, before declining to an average of $67/b in August and $68...