Gasoline Gains as Brent Rebounds on Middle East Tensions

Gasoline advanced in New York as Brent crude in London rebounded from an early decline on heightened concern that political instability in the Middle East may disrupt fuel production and shipments in the region.

Gasoline rose and Brent rebounded from its lows as Bahrain’s security forces attacked protesters for a second day and Egypt approved a request from Iran to allow two Iranian naval ships to pass through the Suez Canal on their way to Syria. Refineries supplying fuel to New York Harbor, the delivery point for heating oil and gasoline futures, use crude-oil grades priced relative to Brent.