Gasoline Futures Rebound
US gasoline futures rose to around $3.15 per gallon after hitting a seven-week low in the previous session, as persistent supply risks offset prospects for improved fuel availability. Unconfirmed reports of a proposal to revive talks between Iran and the US had pressured prices, while the US Energy Department said it was working with domestic refiners to explore ways to boost fuel output and ease prices. Meanwhile, President Trump's decision to waive key sanctions and tariffs on Russia raised prospects for increased Russian fuel exports. However, Morgan Stanley warned that oil-product markets could remain tight through mid-2027 as planned refinery outages rise sharply, potentially constraining supplies even if war-related disruptions ease. Meanwhile, EIA data showed that US gasoline inventories rose by 3.5 million barrels in the week ended October 9, marking a second consecutive weekly build and signaling a recovery in domestic supply.
US gasoline futures rose to around $3.15 per gallon after hitting a seven-week low in the previous session, as persistent supply risks offset prospects for improved fuel availability. Unconfirmed reports of a proposal to revive talks between Iran and the US had pressured prices, while the US Energy Department said it was working with domestic refiners to explore ways to boost fuel output and ease prices. Meanwhile, President Trump's decision to waive key sanctions and tariffs on Russia raised prospects for increased Russian fuel exports.
However, Morgan Stanley warned that oil-product markets could remain tight through mid-2027 as planned refinery outages rise sharply, potentially constraining supplies even if war-related disruptions ease. Meanwhile, EIA data showed that US gasoline inventories rose by 3.5 million barrels in the week ended October 9, marking a second consecutive weekly build and signaling a recovery in domestic supply.