US gasoline prices slid to around $3.28 per gallon on Monday, retreating from a two-month high, as reports of a pause in hostilities between Iran and the US offered some respite from supply concerns.
A senior Iranian official said Tehran would halt attacks if Washington also refrains from further strikes, adding that the message had already been conveyed to the US. Washington has paused its bombing campaign since late Friday, kindling hopes of a broader de-escalation.
Still, uncertainty remained after Iran-backed Houthis claimed attacks on Saudi Aramco-linked facilities in Jizan and Yanbu, though neither Saudi Arabia nor Aramco confirmed the strikes.
Meanwhile, Ukraine shifted its focus from Russian oil refineries to maritime targets, though supply worries lingered after earlier attacks damaged 24 of Russia's 34 largest refineries.