Gasoline Futures Drop from 10-Week High

2026-02-02 10:00 By Agna Gabriel 1 min. read

Gasoline futures in the US fell to about $1.84 per gallon, retreating from a ten-week high of $1.95 reached on January 30, amid easing geopolitical tensions and ample supply.

The decline followed losses in crude oil after President Donald Trump said the US is talking with Iran, reducing fears of an immediate supply shock from the Middle East.

With no disruption materialising, markets unwound part of the risk premium built during weeks of heightened tensions, which had raised concerns over flows from a region supplying roughly a third of global crude.

In addition, US data showed sizable gasoline inventory builds, including a roughly 6 million barrel rise in mid-January, alongside a surprise increase in distillate stocks.

Further weighing on sentiment, OPEC+ confirmed plans to keep output steady in March, while longer-term projections point to global supply exceeding demand next year.



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US gasoline futures rose toward $1.95 per gallon, recovering from recent losses as higher crude feedstock costs and renewed geopolitical risk in the Middle East restored part of the risk premium. Support came from signs of tighter crude balances, with official data showing a weekly draw of about 3.5m barrels and the API pointing to a much larger decline, lifting oil benchmarks and refinery input costs. That support is tempered by comfortable product supply, as US gasoline inventories posted a sizable mid January build of roughly 6m barrels while distillate stocks also surprised to the upside, underscoring ample availability. Meanwhile, OPEC+’s decision to keep output steady in March and expectations of a global surplus next year continue to cap upside potential.
2026-02-04
Gasoline Futures Drop from 10-Week High
Gasoline futures in the US fell to about $1.84 per gallon, retreating from a ten-week high of $1.95 reached on January 30, amid easing geopolitical tensions and ample supply. The decline followed losses in crude oil after President Donald Trump said the US is talking with Iran, reducing fears of an immediate supply shock from the Middle East. With no disruption materialising, markets unwound part of the risk premium built during weeks of heightened tensions, which had raised concerns over flows from a region supplying roughly a third of global crude. In addition, US data showed sizable gasoline inventory builds, including a roughly 6 million barrel rise in mid-January, alongside a surprise increase in distillate stocks. Further weighing on sentiment, OPEC+ confirmed plans to keep output steady in March, while longer-term projections point to global supply exceeding demand next year.
2026-02-02