The drop in gasoline prices in global markets; U.S. gasoline inventories rose more than expected
reported by Mehr Reporter The future price of gasoline in the United States decreased due to the higher than expected increase in the reserves of this fuel. At the same time, crude oil stocks have been declining for the eighth consecutive week and have reached the lowest level since April 2022.
The future price of gasoline in the US market reached 2 dollars and 10 cents per gallon, which is lower than the record of the last quarter. This decrease occurred after the US Energy Information Administration (EIA) reported a significant increase in gasoline stocks.
According to this report, gasoline stocks increased by 5,852,000 barrels in the week ending January 10, recording the third consecutive week of growth. This figure was much higher than the experts’ prediction for an increase of 2,600,000 barrels.
In contrast, U.S. crude oil inventories fell for the eighth straight week and hit their lowest level since April 2022. This downward trend is the longest period of reduction in oil reserves since 2021.
At the same time, the price of crude oil, which had previously reached its five-month high, fell. Markets are evaluating the impact of new sanctions against Russian oil and the possibility of easing these restrictions by Donald Trump, the president-elect of the United States.
Decreasing prices of gasoline and oil in the world markets indicate the direct impact of changes in fuel reserves and energy policies on the markets. Analysts are still looking forward to future actions in the field of sanctions and policies of the new American government.
