Brent Could Touch $100, But Big Move Up Has Happened: Sen

The video discusses the stability of Brent crude prices, noting that while volatility is expected, a significant price increase has already occurred. The economic slowdown hasn't diminished demand, and Saudi Arabia is managing supply to maintain inventory levels. Demand elasticity is low, with no significant change expected until prices reach $120. Diesel and gasoline cracks have moved oppositely to crude prices, affecting what consumers pay at the pump. Redistribution of prices is occurring, but demand remains unaffected below $120.

What does the speaker imply about the elasticity of demand in relation to Brent prices?

What is the significance of diesel and gasoline cracks in the context of crude oil prices?