Gasoline is down by 5.44%

US gasoline prices rose to around $3.37 per gallon, moving back toward a two-month high, as renewed tensions between Iran and the US revived concerns over energy supply disruptions. Iran fired ballistic missiles at US positions in the Middle East, escalating the conflict after a temporary lull, though the US Central Command reported that all projectiles were intercepted. The US also carried out operations alongside Saudi forces in Iraq against Iran-backed militant groups. Meanwhile, Iran rejected Oman’s proposal to share oversight of shipping lanes in the Strait of Hormuz, demanding control over the inbound route and a portion of outbound traffic. Outside the region, Russia eased gasoline purchase restrictions in several areas as supply conditions improved, but the extension of its export ban through year-end continued to limit relief for global gasoline availability. Elsewhere, industry data showed gasoline inventories rose by 918,000 barrels in the week ending July 24.

Gasoline decreased 5.44% to 3.2324 USD/Gal

US gasoline prices slid to around $3.30 per gallon, retreating from a two-month high as reports of a pause in hostilities between Iran and the US offered some respite from supply concerns. Washington has paused its bombing campaign since late Friday after nearly two weeks of strikes. A senior Iranian official said Tehran would halt attacks if the US also refrains from further strikes, adding that the message had already been conveyed to Washington. The lull in hostilities coincided with Omani-mediated talks in Tehran on a provisional arrangement to manage shipping through the Strait of Hormuz, a move that could reduce the risk of oil supply disruptions. Meanwhile, Ukraine shifted its focus from Russian oil refineries to maritime targets, though supply concerns persisted after earlier attacks damaged 24 of Russia's 34 largest refineries.