Navigating Gasoline Volatility

  Gasoline Prices Rebound Amid Supply Concerns (15th April 2024 - 28th April 2024) Over the past two weeks, gasoline futures in the United States have seen a moderate rebound, trading above the $2.70 per gallon mark. This comes after touching a four-week low of $2.69 on April 22nd, as reported by industry sources. The uptick in prices can be attributed to a fresh decline in domestic gasoline inventories, according to the latest data from the Energy Information Administration (EIA). The report showed that gasoline stocks fell by 634,000 barrels in the week ending April 19th, extending the previous week's 1.15-million-barrel draw. This magnified the pressure on supply, especially as crude oil stocks also saw a sharper-than-expected decline of 6.38 million barrels. Supply concerns were further exacerbated by issues in foreign markets, particularly the continued pressure on the capacity of Russian refineries due to maintenance, floods, and attacks from Ukrainian drones. These dis...

  In April, gasoline futures in the US surged to $2.82 per gallon, reaching their highest level in a year. This increase is part of a broader trend affecting oil-derived fuels, driven by concerns about potential conflict in the Middle East. The primary factor behind the surge in gasoline prices is the escalating tensions between Israel and Iran. Reports have emerged indicating that both countries are on high alert, with fears of imminent attacks. This situation represents the most significant escalation between the two nations since Israel's conflict with Hamas last October. The possibility of conflict in the Middle East has raised concerns about potential disruptions to crude oil supply from the region, thus pushing up energy commodity prices, including gasoline futures. Such geopolitical uncertainties often have a direct impact on oil markets, as the Middle East remains a crucial hub for global oil production and distribution. Despite these geopolitical tensions, there have been ...