United States Gasoline Fund, LP

U.S. Energy Secretary Jennifer Granholm announced Tuesday that the Biden administration has ordered the release of approximately 1 million barrels of gasoline from the nation’s reserves to lower pump prices in the Northeastern United States. The release will occur in 100,000-barrel increments, aimed at easing fuel costs between Memorial Day and...

Oil prices surged recently to their highest levels since October as investors closely monitored escalating geopolitical tensions in key regions. The improved demand outlook is another reason for which oil prices can go higher.

The Bloomberg Commodity Index, a widely viewed measure of broad commodities prices, rose to its highest level since November driven by higher prices for oil, gold, and cocoa.

Gas prices have started to climb up ahead of the summer driving season. Investors could easily take advantage of surging gas prices by focusing on the pure-play United States Gasoline ETF (UGA).

Gas prices at the pump are on the rise and could lead to a higher national average next month, exacerbating inflation concerns and lowering the prospect of interest rate cuts during the first half of 2024. According to the American Automobile Association’s Gas Prices Monitor, the national average price of a gallon of regular gas hit $3.49 on Tu...