Oil tanker anchored in the Hudson River
Transatlantic gasoline trade remains muted
Demand, production growth and price outlooks will be limited as market continues to adjust following years of disruption
Global commodity markets are still adjusting to the post-pandemic and post-Ukraine invasion world, and some familiar seasonal trends remain disrupted. In previous years, the US would typically see a noticeable increase in gasoline demand for the summer driving season, and with it an upturn in gasoline imports, particularly transatlantic shipments from Europe in the second quarter. This pattern looks set to return, although US demand may remain relatively muted. US gasoline demand will rise “by about 1.4pc year-on-year, to an average of 9.1mn bl/d in the second and third quarters compared to last year”, when demand averaged just short of 9mn bl/d, predicts Ines Goncalves, senior oil analyst f
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