Gasoline rebound to rise

Gasoline futures in the United States showed new signs of a decrease in crude oil input to gasoline refineries, and since they were temporarily offset amid growing concerns about sluggish gasoline demand, they rose from the one-month low of 2.46 dollars hit on 7/16 to the 2.5 dollar mark.

Crude oil inventories in the US for the 2nd week of July announced by the EIA declined sharply, and the results were in contrast to the reduction in the range of increase announced by API and the inventory accumulation predicted by the market.

Nevertheless, in the latest data, it was pointed out that demand for gasoline from major consumers is at a low level.

EIA's gasoline product supply, which is the main indicator of consumer demand, fell by 615 thousand barrels, and inventories increased by 3.33 million barrels.

Meanwhile, immediately after shipping data showing that oil tankers heading to China had fallen to the lowest level in the past two years was announced, deflationary pressure was applied to Chinese producers, and the view that the country's energy demand was sluggish intensified.