Gasoline Rises Toward 7-Week High

US gasoline prices rose to around $3.37 per gallon, nearing a seven-week high, driven by intensifying supply disruptions. Saudi Arabia’s closure of its East-West oil pipeline has compounded ongoing energy infrastructure attacks and shipping disruptions through the Strait of Hormuz, raising concerns over crude availability and refinery feedstock supplies. Disruptions along Yemen’s Red Sea coast are also constraining shipping through the Bab el-Mandeb Strait, while attacks on Russian refineries are adding to global refined-product supply risks. EIA data showed US gasoline inventories rose by 1.3 million barrels in the week ended September 4 but remained 5% below the five-year average. Fuel production also declined despite US refineries operating near full capacity, limiting their ability to boost output further even as strong refining margins incentivized refiners to maximize production. National regular gasoline averaged $4.30 a gallon on September 11, according to AAA.