US gasoline futures climbed above $2.07 per gallon, the highest since October, driven by fears of tighter global oil supplies amid potential US sanctions on Russia. The proposed sanctions, expected to target vessels, major oil firms, and executives, could disrupt global supply chains and impact maritime insurance tied to Russian exports. Indian refiners are reportedly bracing for the changes, adding to market uncertainty. Meanwhile, US gasoline inventories rose by 6.33 million barrels last week, significantly exceeding forecasts of a 1.5 million barrel build, marking the eighth consecutive weekly increase.
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