IAHL Corporation (IAHL)

[energybuyer]

The Memorial day holiday, this year on May 29, traditionally marks the beginning of U.S. peak summer travel. U.S. gasoline futures rose 2% on Tuesday after the API data.

Production cuts by some OPEC+ members take effect this month. Fears of a supply squeeze mounted after Saudi Arabia's energy minister said he would keep short sellers - those betting that prices will fall - "ouching" and told them to "watch out".

The comments could mean the Organization of Petroleum Exporting Countries and allies including Russia will consider further output cuts at a meeting on June 4, said OANDA analyst Craig Erlam.