US gasoline futures hovered around $3.45 per gallon, near an eight-week high, as concerns over feedstock supply eased after Saudi Arabia announced it would provide additional cargoes via Oman. This followed last week’s attacks by Iran-backed Houthi rebels, which shut down a key Saudi crude pipeline that bypasses the Strait of Hormuz, an area still under blockade.
At the same time, EIA data showed US gasoline inventories unexpectedly increased for a second straight week, rising by 800,000 barrels in the week ending September 11th. Refineries continued to run at high utilization rates—though slightly lower at 96.8%—while postponing non-essential maintenance. Still, the onset of the typical autumn maintenance season poses an ongoing risk to refined-product supplies.
The data also indicated that gasoline demand rose by 300,000 barrels per day, while retail pump prices continued to climb.
