NYMEX gasoline July futures settle at $3.0459 a gallon

On June 5, 2026, NYMEX gasoline July futures settled at $3.0459 per gallon, reflecting a notable shift in the energy market amid ongoing geopolitical tensions and evolving demand dynamics. The settlement price marks a continuation of upward pressure on refined fuel prices, driven by recent developments in the Strait of Hormuz and broader global energy supply concerns.

Earlier in May, RBOB gasoline prices had surged due to heightened tensions in the region, including Iranian drone attacks on oil infrastructure and cargo vessels. These incidents led to a sharp increase in crude oil and refined product prices, with June RBOB gasoline futures closing up by nearly 4% on May 4. While recent trading has shown some moderation, prices remain elevated compared to earlier in the year, with the July contract reflecting continued uncertainty in the market.

The RBOB gasoline futures contract, traded on the NYMEX, represents 42,000 gallons of reformulated gasoline and is widely used by market participants to hedge against price volatility or speculate on energy trends. Open interest for the July contract stands at 99,334 contracts, indicating sustained market participation and liquidity.

Analysts suggest that factors such as geopolitical instability, seasonal demand for summer driving, and potential regulatory changes will continue to influence gasoline prices in the near term. Additionally, the Energy CVOL Index (EVL), a measure of 30-day implied volatility derived from energy options, remains elevated, signaling heightened expectations of price swings.

As the market approaches the July contract’s expiration on June 30, traders are closely monitoring developments in the Middle East and global crude oil prices for further direction.