Gasoline Futures Edge Lower

2026-07-30 17:22 By Larissa Caser 1 min. read

US gasoline futures fell to $3.35 per gallon from the two-month high of $3.5 on July 23rd, as markets weighed persistent geopolitical risks against signs that oil flows through the Strait of Hormuz were improving.

In the Middle East, oil-shuttling services picked up with data suggesting more barrels are leaving the Persian Gulf through vessels with transponders off, dampening concerns over energy supply.

In the Bab el-Mandeb strait, two Saudi tankers also managed to cross the waterway by going dark.

Meanwhile, EIA data showed US gasoline inventories rose slightly last week, defying expectations for a decline though stocks remained 6% below the five-year seasonal average.

Geopolitical risks nevertheless persisted despite continued mediation efforts by China and Oman to facilitate US-Iran talks.

In Russia, the government extended its diesel and gasoline export ban through January 2027 as fuel shortages persisted following Ukrainian drone strikes that shut another crude distillation unit.



News Stream
Gasoline Futures Edge Lower
US gasoline futures fell to $3.35 per gallon from the two-month high of $3.5 on July 23rd, as markets weighed persistent geopolitical risks against signs that oil flows through the Strait of Hormuz were improving. In the Middle East, oil-shuttling services picked up with data suggesting more barrels are leaving the Persian Gulf through vessels with transponders off, dampening concerns over energy supply. In the Bab el-Mandeb strait, two Saudi tankers also managed to cross the waterway by going dark. Meanwhile, EIA data showed US gasoline inventories rose slightly last week, defying expectations for a decline though stocks remained 6% below the five-year seasonal average. Geopolitical risks nevertheless persisted despite continued mediation efforts by China and Oman to facilitate US-Iran talks. In Russia, the government extended its diesel and gasoline export ban through January 2027 as fuel shortages persisted following Ukrainian drone strikes that shut another crude distillation unit.
2026-07-30
Gasoline Rises Further
US gasoline futures held around $3.37 per gallon, remaining close to a two-month high as renewed tensions in the Middle East and persistent fuel shortages in Russia tightened the global supply outlook. The US and Saudi forces launched strikes against Iran-backed groups in Iraq, while Tehran reported strikes on vessels transiting the Strait of Hormuz and US bases in Jordan. Higher oil prices followed, as US President Donald Trump pledged retaliatory action, while Iran's rejection of Oman's proposal for joint management of the strait further dampened hopes for de-escalation. Supply concerns were also reinforced by Russia's decision to extend gasoline export restrictions through the end of the year after Ukrainian drone attacks on Russian refineries triggered domestic fuel shortages and sharp price increases. Meanwhile, EIA data showed US gasoline inventories rose slightly last week, defying expectations for a decline, though stocks remained 6% below the five-year seasonal average.
2026-07-29
Gasoline Rises on Renewed US-Iran Hostilities
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.
2026-07-29