FX.co ★ US Gasoline Futures Bounce Back to 5-Month High

US gasoline futures climbed back above $2.02 per gallon, the highest level in five months, tracking gains in crude oil after Iranian state media reported that Tehran would not allow enriched uranium to be shipped out of the country. The statement underscored ongoing tensions in US–Iran nuclear negotiations in Geneva, intensifying concerns that a collapse in talks could threaten supplies from the OPEC producer. The discussions are now in their third round, just days ahead of President Donald Trump’s deadline for reaching an agreement. Earlier, Omani mediators had characterized the talks as constructive. In addition, the latest EIA data showed that US gasoline inventories declined by 1 million barrels to 254.8 million in the week ended February 20, a larger draw than the 560,000 barrels expected.