Gasoline Rises to Above $2 per Barrel

2026-02-19 17:56 By Andre Joaquim 1 min. read

Gasoline futures for delivery at the New York Harbor rose to over $2.0 per gallon in February, testing the highest level in five months as higher risk premiums for crude oil shipments lifted the costs of feedstock for refineries.

Tensions between the US and Iran culminated in reports that the US could intervene militarily as soon as next week, with Israeli officials calling for a regime change in Tehran.

The moves risked Iran's possible blockade in the Strait of Hormuz, a chokepoint for nearly one third of global tanker traffic.

In the meantime, Ukrainian strikes in Russian refineries cut a major source of gasoline production, forcing Russian energy companies to export crude instead of gasoline.

Stateside, the weekly inventory count by the EIA reflected a 3.2 million barrel draw in national stocks in the second week of February, more than market expectations of a 300 thousand decrease.



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Gasoline Rises to Above $2 per Barrel
Gasoline futures for delivery at the New York Harbor rose to over $2.0 per gallon in February, testing the highest level in five months as higher risk premiums for crude oil shipments lifted the costs of feedstock for refineries. Tensions between the US and Iran culminated in reports that the US could intervene militarily as soon as next week, with Israeli officials calling for a regime change in Tehran. The moves risked Iran's possible blockade in the Strait of Hormuz, a chokepoint for nearly one third of global tanker traffic. In the meantime, Ukrainian strikes in Russian refineries cut a major source of gasoline production, forcing Russian energy companies to export crude instead of gasoline. Stateside, the weekly inventory count by the EIA reflected a 3.2 million barrel draw in national stocks in the second week of February, more than market expectations of a 300 thousand decrease.
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Gasoline Futures Track Oil Higher
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