Gasoline Futures Rise

2026-04-09 00:42 By Judith Sib-at 1 min. read

Gasoline futures rose to $3.04 per gallon on Thursday, following a sharp decline in the previous session, as the two-week ceasefire in the Middle East appeared to be unraveling following Israeli strikes on Lebanon.

A wave of Israeli airstrikes swept across Lebanon on Wednesday, prompting Iran to halt the passage of oil tankers through the Strait of Hormuz.

Iran’s Parliament speaker said three key clauses of a 10-point ceasefire proposal were violated ahead of negotiations scheduled for Friday in Pakistan, adding that under such conditions, a bilateral ceasefire or talks were no longer reasonable.

The closure of the strait, which connects the Persian Gulf to the world market, has triggered the biggest oil supply disruption in history.

Analysts also noted that even if transit through the waterway resumes, the restoration of energy supplies will not be immediate.



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Gasoline Futures Rise
Gasoline futures rose to $3.04 per gallon on Thursday, following a sharp decline in the previous session, as the two-week ceasefire in the Middle East appeared to be unraveling following Israeli strikes on Lebanon. A wave of Israeli airstrikes swept across Lebanon on Wednesday, prompting Iran to halt the passage of oil tankers through the Strait of Hormuz. Iran’s Parliament speaker said three key clauses of a 10-point ceasefire proposal were violated ahead of negotiations scheduled for Friday in Pakistan, adding that under such conditions, a bilateral ceasefire or talks were no longer reasonable. The closure of the strait, which connects the Persian Gulf to the world market, has triggered the biggest oil supply disruption in history. Analysts also noted that even if transit through the waterway resumes, the restoration of energy supplies will not be immediate.
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