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US gasoline futures fell to around $3.30 per gallon, declining for the third straight session, pressured by seasonal weakness in fuel demand and the G7’s planned release of emergency oil and diesel reserves. The release will be coordinated by the International Energy Agency over the next four months. The broader refined-products complex also faced pressure after President Trump signed an executive order expanding access to tax-exempt diesel. Meanwhile, gasoline pump prices have eased from recent peaks as demand weakens following the end of the summer driving season. Nevertheless, global fuel markets remain tight as EIA data showed US gasoline inventories fell by 1.7 million barrels in the week ended September 25, while refinery utilization stood at 92.5%. Russia extended restrictions on most diesel exports through October, although it is considering a partial lift amid balanced domestic supplies. China also suspended some oil-product exports for October.

Gasoline Falls for Third Session

Silver held near $61 an ounce on Tuesday, remaining close to two-month lows as a stronger dollar and surging Treasury yields outweighed support from softer US jobs data and reduced expectations for an October rate hike by the Federal Reserve. The dollar strengthened largely as the euro weakened amid rising political uncertainty and fiscal concerns across Europe. Treasury yields also climbed to fresh 24-year highs as the global bond selloff continued, driven by mounting fiscal risks and persistent inflation concerns. ISM data showed that cost pressures in the US services sector increased at the fastest pace in more than four years last month. Meanwhile, markets are pricing in roughly a 78% probability that the Fed will keep interest rates unchanged this month following weaker-than-expected US jobs data. Elsewhere, oil prices declined on signs of increased supply from the Middle East, easing concerns over inflation and higher interest rates.

Silver Pressured as Dollar, Yields Weigh

The Nikkei 225 Index climbed 0.4% to above 70,200 on Tuesday, scaling three-month highs and following a strong lead from Wall Street as investors largely brushed aside concerns over elevated bond yields. Sentiment was further supported by declining oil prices amid signs of increased supply from the Middle East, easing pressure on Japan’s oil-import-dependent economy. In corporate news, Toyota Motor Corp. is relying on its new Land Cruiser FJ to compete with increasingly aggressive Chinese automakers, with sales in Japan and Southeast Asia so far surpassing expectations. Technology and AI-related stocks led the gains, including Advantest (2%), Fujikura (2.3%) and Lasertec (0.7%). Financial stocks also advanced, with Mitsubishi UFJ rising 0.5%, Mizuho Financial gaining 1.1% and Sumitomo Mitsui adding 0.5%.

Japanese Shares Track Wall Street Higher

US heating oil prices fell to around $4.51 per gallon as President Donald Trump signed an executive order expanding access to tax-exempt diesel in the latest bid to lower diesel costs. The order waives the off-road requirement for red-dyed diesel, allowing it to be purchased tax-free for any use. The G7 also pledged last week to release 100 million barrels of diesel from strategic emergency reserves, although the amount of additional supply remained unclear. Nevertheless, heating oil prices remained close to their record high of $5.20 reached in mid-September as refined product markets remained tight. EIA data showed US distillate inventories at historically low levels, while refinery maintenance and seasonal demand were expected to keep supplies tight. Disruptions in the Middle East and Russia, along with Moscow’s extended diesel-export restrictions and China’s suspension of October fuel exports, further constrained global diesel availability.

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