Gasoline futures fell below $2.70 per gallon on Tuesday, extending losses from the previous session as markets assessed President Trump’s efforts to ease concerns about the duration of the Middle East conflict. Trump said the war with Iran could be approaching its closing phase, noting that US forces are advancing faster than initially anticipated. He also indicated that the US may relax oil-related sanctions and deploy naval escorts to protect tankers transiting the Strait of Hormuz, aiming to limit further pressure on crude prices. Separately, G7 finance ministers said the group stands ready to release oil from strategic reserves if needed, though no action has been taken so far. Even so, uncertainty persists as investors remain skeptical about the administration’s attempts to stabilize energy markets, despite signals from the White House that it may be seeking a path toward ending the conflict.
