American Petroleum Institute & Scott Bessent

American Petroleum Institute: The American Petroleum Institute, through its spokesperson Bethany Williams, has stated that gasoline prices do not move in lockstep with crude oil, especially during global disruptions, and that the industry shares the goal of delivering relief at the pump.

Scott Bessent: Scott Bessent, the Treasury Secretary, warned producers and refiners of potential administrative action if pump prices do not decline sharply.

American Petroleum Institute: The American Petroleum Institute's chief economist noted that India's constrained LPG supply is adding pressure to an already tight United States — California gasoline market due to reduced alkylate exports.

Scott Bessent: Scott Bessent, U.S. Treasury Secretary, reassured about the temporary nature of the sanctions waiver on Russian seaborne oil.

American Petroleum Institute: The American Petroleum Institute reported that US crude oil inventories jumped for the third straight week.