NYMEX gasoline March futures settle at $1.9714 a gallon

NYMEX gasoline March futures settle at $1.9714 a gallon

NYMEX Gasoline March Futures Settle at $1.9714 a Gallon Amid Mixed Market Dynamics

On February 24, 2026, NYMEX gasoline March futures settled at $1.9714 per gallon, reflecting a 1.81-cent decline from previous levels, as traders navigated a mix of seasonal demand pressures and geopolitical uncertainties according to market analysis. The settlement occurred amid broader weakness in crude oil and refined product markets, with the Nymex April West Texas Intermediate (WTI) contract falling 41 cents to $65.90 per barrel and the ICE Brent crude contract dropping 53 cents to $70.96 per barrel as reported.

The gasoline market's performance was influenced by waning winter demand, particularly in the Northeast, where severe weather had previously supported prices. However, regional supply dynamics remained uneven. While Midwest gasoline prices rose for a second consecutive day, with Chicago and Group 3 RBOB gaining approximately 4 cents per gallon, most U.S. cash gasoline markets saw declines according to data. Diesel prices also exhibited divergence, with the Nymex March ULSD contract rising 1.23 cents to $2.6905 per gallon due to tight regional supplies, while the April contract fell 0.53 cents as market reports indicate.

Geopolitical developments added volatility to the market. Traders awaited upcoming U.S.-Iran negotiations, which had previously driven crude prices to multi-month highs amid fears of regional conflict. However, recent signals of potential Iranian concessions on its nuclear program and White House statements suggesting limited military action tempered near-term price gains according to analysis.

Activity in refined products remained focused on next-month contracts, with the April RBOB contract settling at $2.2307 per gallon, down 1.62 cents as reported. Analysts noted that while short-term weather-related demand and geopolitical risks provided some support, broader market fundamentals—including robust U.S. crude production and seasonal demand shifts—continued to exert downward pressure on prices according to market analysis.

The settlement underscores the delicate balance between regional supply constraints, global geopolitical risks, and evolving demand patterns in shaping near-term energy markets.

Data from the Oil Price Information Service (OPIS), as reported by Dow Jones Newswires: Market data and analysis from Dow Jones Newswires.