U.S. Gasoline Futures Fall Below $3.60 Per Gallon Amid Middle East De-escalation Hopes

U.S. gasoline futures fell below $3.60 per gallon this week as markets priced in expectations for de-escalation in the Middle East conflict. President Donald Trump announced a temporary halt to efforts guiding vessels stuck in the Strait of Hormuz, creating space for negotiations with Iran aimed at ending the conflict, while maintaining a blockade on Iranian ports. Secretary of State Marco Rubio stated that a Middle East ceasefire agreement remains in effect and the U.S. military’s initial large-scale operations against Iran have concluded, further stabilizing market sentiment. According to the U.S. Energy Information Administration (EIA), as of April 24, gasoline demand increased while inventory levels declined and production fell slightly.