Gasoline Futures Hold Near 6-Week High

2025-11-17 14:52 By Agna Gabriel 1 min. read

US gasoline futures traded at around $2 per gallon, just below the six-week high of $2.011 on November 11, as traders weighed shrinking inventories against growing fears of a global oil glut.

US gasoline stocks fell by 945,000 barrels in the week ending November 7, marking a sixth straight weekly draw, after an even larger 4.7 million-barrel drop the previous week.

Still, broader oil market sentiment remains pressured by expectations of a supply surplus later this year and into next, as both OPEC and non-OPEC producers raise output while demand growth slows.

Adding to long-term uncertainty, the International Energy Agency has softened its outlook on peak oil, now forecasting that global consumption could continue rising through 2050.



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