U.S. gasoline tops $4 after Aug. 12 as Brent rises on Iran pressure

U.S. gasoline prices climbed to an unusually high late-summer level, with AAA showing a national average of $4.0360 a gallon on Wednesday versus $4.0116 on Tuesday, and GasBuddy analyst Patrick De Haan saying the national average had never previously stayed above $4 after Aug. 12. Brent crude rose above $88 a barrel on Friday and was up more than 5% for the week as Washington intensified pressure on Iran and uncertainty persisted over reopening the Strait of Hormuz, a key oil and LNG shipping route. European natural gas remained elevated near €60.4 per MWh, up more than 8% on the week, as delayed Qatari LNG cargoes, storage at 59% full, and heat-driven power demand tightened supply ahead of winter.

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