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RBOB Gasoline Oct 24 (RBV24.NYM)

NY Mercantile - NY Mercantile Delayed price. Currency in USD
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2.2402+0.0104 (+0.47%)
As of 08:35AM EDT. Market open.
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Pre. SettlementN/A
Settlement date2024-09-30
Open2.2282
Bid2.2401
Last price2.2298
Day's range2.2276 - 2.2437
Volume877
Ask2.2405
  • Reuters

    Gasoline demand growth to slow this year on EV growth in China, U.S.

    NEW DELHI (Reuters) -Global petrol demand growth could halve in 2024, squeezing second-half refinery margins, analysts said, driven by a shift to electric cars in China and the United States and a return to normal consumption after last year's bounce following COVID-19. In the lowest growth since 2020, demand is likely to rise 340,000 barrels per day (bpd), to stand at 26.5 million bpd this year, says consultancy Wood Mackenzie, down from growth of 700,000 bpd last year, as China nears the point of peak transport fuel demand and the U.S. has surpassed it. "Penetration of electric vehicles has been increasing in U.S. and China," said Woodmac analyst Sushant Gupta.

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