Gasoline Rebounds from 3-Month Low

2026-06-19 14:17 By Andre Joaquim 1 min. read

Gasoline futures for delivery in the NY Harbor were near the $2.97 per gallon mark, slightly above the three-month low of $2.88 touched on June 16th as markets assessed the pace that supply from the Middle East may return.

The US and Iran delayed the start of peace after their memorandum pledged to restart the exports of crude oil from the Persian Gulf.

Reports indicated that supertankers had already sailed toward the Strait of Hormuz, and Qatar, Bahrain, and Kuwait were already studying increases in production capacity.

The added supply is due to replenish refineries across the globe with the higher export quotas from OPEC+ and higher output from the UAE, which left the cartel during the conflict.

The deal is also due to lift US sanctions on Iran, increasing the supply from the major producer.

Iranian output will likely refill Chinese oil stockpiles, which were depleted in the last months as the world's largest importer refrained from purchasing oil to prop up prices further.



News Stream
Gasoline Rebounds from 3-Month Low
Gasoline futures for delivery in the NY Harbor were near the $2.97 per gallon mark, slightly above the three-month low of $2.88 touched on June 16th as markets assessed the pace that supply from the Middle East may return. The US and Iran delayed the start of peace after their memorandum pledged to restart the exports of crude oil from the Persian Gulf. Reports indicated that supertankers had already sailed toward the Strait of Hormuz, and Qatar, Bahrain, and Kuwait were already studying increases in production capacity. The added supply is due to replenish refineries across the globe with the higher export quotas from OPEC+ and higher output from the UAE, which left the cartel during the conflict. The deal is also due to lift US sanctions on Iran, increasing the supply from the major producer. Iranian output will likely refill Chinese oil stockpiles, which were depleted in the last months as the world's largest importer refrained from purchasing oil to prop up prices further.
2026-06-19
Gasoline Holds Near 3-Month Low
Gasoline futures for delivery in the NY Harbor held around $2.90 per gallon in June, trading near three month lows amid expectations of higher oil supply from the Middle East. The US and Iran reportedly signed an agreement remotely to restore oil and refined fuel exports from GCC countries, which have been nearly halted since March. The fresh supply is due to replenish refineries across the globe with the higher export quotas from OPEC+ and higher output from the UAE, which left the cartel during the conflict. Gasoline stocks in the US fell by 1 million barrels on the week ending June 12th, and the US SPR fell to a 43-year low. The deal is also due to lift US sanctions on Iran, increasing the supply from the major producer. Iranian output will likely refill Chinese oil stockpiles, which were depleted in the last months as the world's largest importer refrained from purchasing oil to prop up prices further.
2026-06-17
Gasoline Near Lowest in 3 Months
US gasoline prices held below $2.90 per gallon, the lowest since early March, as the US-Iran deal is expected to reopen the Strait of Hormuz and support a return of energy exports from the Middle East. The interim pact, due to be signed on Friday, states that Tehran would receive broad financial incentives, including the immediate right to sell its oil. Still, markets are assessing the durability of the agreement and the timeline for shipping through the Strait to normalize, as many operators may wait several weeks before resuming tanker transits. Producers have also warned that a full recovery could take months, citing technical and geological constraints as well as infrastructure damage. Meanwhile, industry data showed that gasoline inventories rose by 2.48 million barrels in mid-June, reversing the previous week's 1.19 million-barrel decline.
2026-06-17