RBOB Gasoline Apr 26 (RBJ26.NYM)
- Reuters
Oil flat as firming US gasoline demand offsets rate jitters
Oil prices were steady early in the session on Friday as players took stock of the U.S. Federal Reserve's latest comments on interest rates amid sticky inflation, while firming seasonal U.S. fuel demand lent support. Brent crude futures were up 1 cent at $81.37 a barrel at 0002 GMT. Ongoing macroeconomic constraints in the U.S. held prices in the balance as investors digested Wednesday's minutes from the Fed's latest policy meeting, which showed policymakers remain doubtful if current interest rates are high enough to tame stubborn inflation.
- Barrons.com
The White House to Sell 1 Million Barrels of Gasoline. What It Means for Your Wallet.
The Biden Administration is selling gas reserves ahead of July 4 in part to improve prices at the pump this summer. The 1 million barrels of gasoline stored in Maine and New Jersey are dwarfed by the nearly 350 million barrels of crude oil stored in the U.S. Strategic Petroleum Reserves. The Biden administration plans to sell nearly 1 million barrels of gasoline just in time for the summer driving season.
- Reuters
US to close Northeast gasoline reserve with 1 million-barrel sale
WASHINGTON (Reuters) -President Joe Biden's administration will sell nearly 1 million barrels of gasoline in the U.S.-managed stockpile in northeastern states as required by law, the Department of Energy said on Tuesday, effectively closing the near decade-old reserve. The department created the Northeast Gasoline Supply Reserve in 2014 after Superstorm Sandy left motorists scrambling for fuel. Bids are due on May 28 and the Treasury Department's general funds gets proceeds from the sale, the department said.
