26.03.202600:58:37UTC+00US Gasoline Futures Rise

US gasoline futures climbed back above $3.00 per gallon on Thursday, paring the previous session’s losses as traders assessed conflicting signals from Washington and Tehran over prospects for ending the conflict. Iran stated it has no intention of holding direct talks with the United States, stressing that any mediated contacts should not be viewed as formal negotiations. That stance contrasts with the White House, which maintains that peace discussions are under way, even as it warns that the US could intensify military operations if Iran refuses to recognize its setbacks.

Energy markets have remained highly volatile since the conflict erupted, with gasoline futures still up more than 30% so far this month, supported by supply disruptions in the Strait and seasonal demand trends. Adding to the bullish tone, EIA data showed US gasoline inventories declining by 2.6 million barrels last week, a larger draw than the 2.1 million barrels expected. Separately, the US government is moving to broaden summer sales of higher-ethanol E15 gasoline by granting waivers on volatility limits.