Gasoline Falls for Second Session
US gasoline prices fell toward $3.20 per gallon for a second straight session as traders weighed the prospect of easing energy supply pressures following President Donald Trump’s claim of an immediate energy ceasefire between Russia and Ukraine. Ukrainian President Volodymyr Zelenskiy said he was awaiting details of the deal, while Russia had yet to comment. Trump’s announcement followed his statement last week that Russia had agreed to supply diesel to global markets to help lower fuel prices, alongside his administration’s temporary easing of US sanctions on Russian fuel. Meanwhile, IEA Executive Director Fatih Birol urged governments to accelerate planned diesel releases and consider boosting supplies. However, renewed strikes on Saudi Arabia’s infrastructure and tanker attacks near the Strait of Hormuz continued to threaten regional energy flows. Elsewhere, Gulf of Mexico oil producers were working to restore offshore output after Hurricane Isaias made landfall.
20 per gallon for a second straight session as traders weighed the prospect of easing energy supply pressures following President Donald Trump’s claim of an immediate energy ceasefire between Russia and Ukraine. Ukrainian President Volodymyr Zelenskiy said he was awaiting details of the deal, while Russia had yet to comment. Trump’s announcement followed his statement last week that Russia had agreed to supply diesel to global markets to help lower fuel prices, alongside his administration’s temporary easing of US sanctions on Russian fuel. Meanwhile, IEA Executive Director Fatih Birol urged governments to accelerate planned diesel releases and consider boosting supplies.
However, renewed strikes on Saudi Arabia’s infrastructure and tanker attacks near the Strait of Hormuz continued to threaten regional energy flows. Elsewhere, Gulf of Mexico oil producers were working to restore offshore output after Hurricane Isaias made landfall.