US gasoline futures traded above $3.29 a gallon, extending gains near a two-week high as refineries face increasing pressure from energy supply disruptions. Attacks were reported at several energy facilities in Saudi Arabia by Iran-backed Houthi militants, while a Russian refinery in the Perm region was also targeted by Ukraine. At the same time, US refineries are operating near full capacity, with some bringing forward seasonal fall maintenance to keep production levels elevated. Meanwhile, EIA data showed US gasoline inventories fell by 1.173 million barrels in the week ending August 28th, marking continued drawdowns in recent weeks. As a result, pump prices reached a record Labor Day average of $4.15 a gallon, despite easing demand following the end of the summer driving season, athough further relief could come from the seasonal switch to the cheaper winter-blend. Meanwhile, Iran stated it had made progress with Oman on a temporary safe-passage route through the Strait of Hormuz.
