Gasoline futures fell below $2.70 per gallon on Tuesday, extending losses from the previous session as markets weighed President Trump’s efforts to ease concerns about the length of the Middle East conflict. Trump said the war with Iran may be entering its final phase, noting that US forces are advancing more quickly than previously expected. He also signaled that Washington could relax certain oil-related sanctions and deploy naval escorts to safeguard tankers transiting the Strait of Hormuz, in an effort to contain further upward pressure on crude prices.
At the same time, G7 finance ministers stated they are prepared to release oil from strategic reserves if necessary, although no concrete measures have yet been taken. Nonetheless, uncertainty remains elevated, as investors are skeptical that the administration can successfully stabilize energy markets, even as the White House sends signals that it may be seeking a pathway to end the conflict.
