Kalshi traders see gas prices crossing $4 by end of July
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The odds of gas prices rising above $4 per gallon by the end of this month have risen from 56% to 90% in Kalshi in the last two days.
Kalshi traders currently see a 93% chance of gas prices rising above $4 per gallon and a 63% chance of rising above $4.10. The contract, which asks what the gas price will be this month in the USA, will be verified by. AAA.
Wednesday’s national gas price was $3.89, about 3 cents higher than Tuesday’s price, according to AAA.
Last month’s average exceeded $4, but this year’s highest national gas price average reached $4.56 on May 21. Traders in Kalshi see less than a 5% chance that gas prices will rise above $4.50 again by the end of this month.
Gas price speculation arose as the United States ended its ceasefire with Iran last week and resumed attacks. US Central Command wrote with an X to mail He said he launched a second wave of attacks on Iran at 3pm ET on Wednesday afternoon. This follows an earlier round of strikes on Wednesday morning.
“The strikes were designed to further weaken the military capabilities used by Iranian forces to attack merchant shipping in the Strait of Hormuz,” US Central Command wrote in X. to mail Wednesday morning.
Oil prices have been on the rise for three days. U.S. West Texas Intermediate futures for August delivery closed at $79.60 a barrel on Wednesday, up 26 cents, or 0.3%, from the previous day. Meanwhile, the September futures contract of international benchmark Brent settled at $84.95 per barrel, increasing by 0.3% on the day.
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