MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for March 11th:

Updated at 5:00 PM ET 

HEADLINES:

— EIA: PADD 1 Gasoline Stocks Rise, Distillates Drop

— EIA: PADD 2 Gasoline Stocks Post First Drop Since Jan. 30

— EIA: PADD 3 Gasoline Inventory Down for 8th Week

— EIA: PADD 5 Gasoline Stocks Records 5th-Week Drop

— OPEC: World Oil Demand Stays at 1.4M Bpd, Saudi Boost Aids

— EIA: Propane/Propylene Inventory Climbs 47.3% Y-o-Y

— EIA: U.S. Ethanol Stocks Dip 6.6% on Week, Output Rises

— IEA Seals Historic 400M Bbl Reserves Release Amid Iran War

— EIA: U.S. Crude Stocks Rise to Highest Since May 2025

— IEA Confirms Considering Stockpile Release After G7 Call

— U.S. Rack Gasoline Drops 6.9cts, First Decline This Week

— Feb. U.S. CPI Steady at 2.4% Y-o-Y Despite Energy Surge

— Analysis: New Shale Refinery to Aid U.S. Energy Security

NEWS:

EIA: PADD 1 Gasoline Stocks Rise, Distillates Drop

East Coast (PADD 1) gasoline inventories reported a build in the week ended March 6, while distillates and jet fuel stocks declined, according to data released by the U.S. Energy Information Administration on Wednesday (3/11).

Motor gasoline stocks in PADD 1 rose by 200,000 bbl to 66.9 million bbl for the second consecutive week and were above 65.3 million bbl seen in the same week of last year. Gasoline imports on the East Coast declined by 35,000 bpd to 338,000 bpd and were below the 483,000 bpd imported year-over-year.

The hike in gasoline inventories was driven by weaker demand due to the severe weather that affected the East Coast in recent weeks.

In the opposite direction, distillate fuel oil inventories in PADD 1 dropped by 200,000 bbl to 27.3 million bbl in the week ending March 6 and were lower than the 29.2 million bbl reported in the same period of last year. Distillate fuel oil imports averaged 144,000 bpd last week, 9,000 bpd down from what was recorded the previous week and 83,000 bpd below the volume seen in the same week last year.

Jet fuel inventories in PADD 1 dropped for a second consecutive week, falling by 300,000 bbl to 8.4 million bbl in the week ending March 6 and were below the 9.2 million bbl recorded in the same period of last year. Imports of the same product in the region fell by 6,000 bpd to 20,000 bpd on a weekly basis and it was lower than 48,000 bpd imported the prior year.

Refinery utilization in the profiled week rose slightly to 92.3% from 92.2% the prior week, the EIA data showed.

Crude oil inventories on the East Coast fell by 1.1 million bbl to 8 million bbl week-over-week and were below 8.6 million bbl reported in the same period of previous year. Crude oil imports dropped by 228,000 bpd to 536,000 bpd and were above the 290,000 bpd recorded in the same week last year.

EIA: PADD 2 Gasoline Stocks Post First Drop Since Jan. 30

Midwest (PADD 2) gasoline inventories declined last week during the week ended March 6, marking the first weekly drop since the week ended Jan. 30, while distillate stocks were little changed and crude oil balances increased, according to U.S. Energy Information Administration data released Wednesday.

Motor gasoline inventories in PADD 2 fell by 1.1 million bbl to 60 million bbl on the week, EIA data showed, marking the lowest level since the end of January, when inventories stood at 59 million bbl. Compared with the corresponding week last year, gasoline inventories were 800,000 bbl lower than the 60.8 million bbl recorded during the same period. Total motor gasoline imports remained at zero bpd, the same as in the previous week and below 1,000 bpd recorded in the corresponding week of the prior year. 

Distillate fuel oil inventories in the Midwest were unchanged on the week at 29 million bbl and were 5 million bbl below the level reported in the same week of the prior year. Distillate fuel oil imports were at 8,000 bpd, down 2,000 bpd from the prior week but 3,000 higher than the level reported in the same week of the prior year. 

Jet fuel inventories in PADD 2 rose by 200,000 bbl to 8 million bbl on the week. Stocks were 100,000 bbl below volume recorded in the same week of the prior year. During the profiled week, PADD 2 jet fuel imports remained at zero bpd, week-over-week and year-over-year. 

Crude oil inventories in PADD 2 increased by 700,000 bbl to 109 million bbl during the profiled week and were 1.2 million bbl above volumes recorded in the corresponding week of the prior year.

Crude oil imports into the Midwest averaged 3.395 million bpd during the reference week, compared with 3.19 million bpd the prior week and 2.884 million bpd reported in the same week of the prior year. 

Refinery utilization in the Midwest edged higher to 92.8% of operable capacity from 92.7% the prior week and was slightly below the 93.2% recorded in the same week of the prior year, according to EIA data.

EIA: PADD 3 Gasoline Inventory Down for 8th Week

U.S. Gulf Coast gasoline and distillate stocks declined last week while jet fuel inventories also fell in the week ending March 6, Energy Information Administration data showed on Wednesday (3/11).

Motor gasoline inventories in the PADD 3 region fell for the eighth consecutive week, declining by 2.1 million bbl to 85.1 million bbl during the week ended March 6, after falling the prior week, the EIA’s Weekly Petroleum Status Report showed. Year-on-year, gasoline stocks in the region were higher by 7.2 million bbl.

PADD 3 gasoline imports dropped by 26,000 bpd to 7,000 bpd last week and were 7,000 bpd higher compared with the same week of last year.

Distillate fuel oil inventories in the same region declined by 1.6 million bbl to 46.4 million bbl during the week profiled and were 8 million bbl higher than the volume reported in the same period of last year, EIA data showed.

Jet fuel stocks in the Gulf Coast dropped by 800,000 bbl to 12.8 million but were 2.1 million bbl lower from a year ago.

As a net exporter of distillates and jet fuel, PADD 3 does not report imports of those products.

Refining utilization in the Gulf Coast rose to 91.3% from 89.5% the prior week, according to EIA data.

Crude imports in PADD 3 dipped by 117,000 bpd to 1.211 million bpd on the week and were 316,000 bpd higher year-on-year. 

EIA: PADD 5 Gasoline Stocks Records 5th-Week Drop

U.S. West Coast (PADD 5) gasoline inventories fell for the fifth consecutive week, while distillates inventories increased and jet fuel stocks were unchanged in the week ended March 6, according to Energy Information Administration data released Wednesday (3/11).
Motor gasoline inventories in the West Coast region fell by 400,000 bbl to 28.3 million bbl, up by 300,000 bbl compared to the same week last year. Gasoline imports in the region amounted to 189,000 bpd in the reference week compared to 22,000 bpd last week, but higher by 102,000 bpd in the same week of the prior year.
Distillate fuel oil stocks in PADD 5 climbed by 300,000 bbl to 12 million bbl in the week ending March 6. Inventories of the same products were flat year-over-year. Distillate imports in the region were 20,000 bpd in the reference week compared to 1,000 bpd last week, still higher at 10,000 bpd the same week last year.
In contrast, jet fuel inventories on the West Coast were unchanged at 11.1 million bbl on a weekly basis and were slightly lower year-over-year. Imports for jet fuel in the region were 44,000 bpd in the respective week compared to 104,000 bpd last week, still lower by 47,000 bpd in the same week of the prior year.
Crude oil inventories in PADD 5 plummeted by 2.8 million bbl to 44.2 million bbl in the reference week. Inventories of the same products were 1.4 million bbl lower compared to the same week last year. Crude imports in the region amounted to 956,000 bpd in the reference week compared to 703,000 bpd last week, but they were lower by 153,000 bpd in the same week of the prior year. Refinery utilization in PADD 5 rose to 83.8% last week compared to 79.6% the previous week, EIA data showed.

OPEC: World Oil Demand Stays at 1.4M Bpd, Saudi Boost Aids

OPEC said in its monthly report released Wednesday (3/11) it was too early for the producer group to determine the impact of the Iran war on the global economy, although it expected its members to step up with more supply – like Saudi Arabia did before the outbreak of the latest Middle East conflict.

The March report highlighted that Saudi Arabia sharply increased oil production in February to 10.882 million bpd, with the kingdom’s supply to the market itself reaching 10.111 million bpd. The ramp-up was part of a contingency plan established ahead of the recent conflict to help secure market stability in the event of supply disruption.

OPEC maintained its 2026 global oil demand growth forecast at 1.4 million bpd, unchanged from the previous assessment.

While the report did not explicitly detail the impacts of the Iran war, it observed that market structure is being supported by firm physical fundamentals. It also acknowledged the influence of supply outages and concerns on further potential disruptions.

“Ongoing geopolitical developments warrant close monitoring, although their impact, if any, on the growth forecast may be too early to determine,” OPEC said in its assessment of the global economy.

The report came amid the de facto closure of the Strait of Hormuz, a critical chokepoint for Middle East oil exports. Major OPEC producers are facing challenges in finding alternatives to the waterway that used to carry 21 million bpd of petroleum liquids, amid attacks by Iran on both vessels in the strait and at the energy infrastructure of its neighbors.

According to the report, crude output from OPEC+ – which refers to the broader OPEC alliance with 10 other oil producers – averaged 42.72 million bpd in February, an increase of 445,000 bpd compared to January.

In reviewing conditions in the U.S., OPEC said U.S. Gulf Coast refiners faced a more constructive margin environment in February, supported by seasonal maintenance-related production declines.

USGC refining margins against WTI rose to a three-month high in February, though they remained below levels seen during the same period last year. The improvement was driven primarily by gasoline and middle distillate strength, as severe weather in late January led several regional refineries to shift into planned maintenance shutdowns, OPEC noted.

Preliminary data shows that refinery intake in the USGC decreased by 650 tb/d month-on-month to an average of 16.16 mb/d in February, OPEC said in its review. Despite the decline, gasoil stocks in the region remained elevated due to the impact of robust stock builds observed in previous months, it added.

Venezuelan production saw a recovery in February, with secondary sources reporting an output of 903,000 bpd, an increase of 80,000 month-on-month, OPEC said.

EIA: Propane/Propylene Inventory Climbs 47.3% Y-o-Y

The Energy Information Administration reported on Wednesday (3/11) total domestic propane/propylene stocks of 71.675 million bbl in the week ending March 6, down 1.676 million bbl week-on-week and 23.021 million bbl, or 47.3% higher than in the same week last year.
Data show propane/propylene exports last week averaged 2.035 million bpd, up 426,000 bpd week-on-week and 213,000 bpd, or 9.5%, lower than in the same week last year.
Implied demand for propane/propylene in the United States averaged 1.202 million bpd, down 66,000 bpd week-on-week and 144,000 bpd, or 13.6% higher than in the same week last year.
EIA reports domestic propane/propylene production averaged 2.862 million bpd, up 46,000 bpd week-on-week and 172,000 bpd, or 6.4% higher than in the same week last year.
East Coast PADD 1 inventories ended the week at 2.682 million bbl, down 848,000 bbl week-on-week and 700,000 bbl, or 20.7% lower than in the same week last year.
Midwest PADD 2 inventories ended the week at 13.752 million bbl, down 54,000 bbl week-on-week and 3.338 million bbl, or 32.1% higher than in the same week last year.
Gulf Coast PADD 3 inventories ended the week at 51.775 million bbl, down 825,000 bbl week-on-week and 19.89 million bbl, or 62.4% higher than in the same week last year.
Combined inventories in the Rockies and the West Coast, PADD 4 and 5, ended the week at 3.466 million bbl, up 51,000 bbl week-on-week and 492,000 bbl, or 16.5% higher than in the same week last year.

EIA: U.S. Ethanol Stocks Dip 6.6% on Week, Output Rises

The Energy Information Administration reported on Wednesday (3/11) that overall ethanol production in the United States averaged 1.126 million bpd in the week ending March 6, up 31,000 bpd week-on-week and 64,000 bpd, or 6% higher than in the same week last year. Four-week average output at 1.127 million bpd was 23,000 bpd above the same four weeks last year.
Midwest ethanol production averaged 1.078 million bpd, up 34,000 bpd week-on-week and 70,000 bpd, or 6.9% higher than in the same week last year. Four-week average output at 1.07 million bpd was 24,000 bpd above the same four weeks last year.
Ethanol blending activity in the U.S. averaged 901,000 bpd, up 37,000 bpd week-on-week and 24,000 bpd, or 2.7% higher than in the same week last year. Four-week average blending demand at 853,000 bpd was 6,000 bpd above the same four weeks last year.
Blender inputs at the East Coast were up 26,000 bpd on the week while inputs in the Midwest were up 8,000 bpd, down 0,000 bpd on the Gulf Coast and up 4,000 bpd on the West Coast.
Domestic ethanol inventories ended the week at 25.58 million bbl, down 757,000 bbl week-on-week and 1.796 million bbl, or 6.6% lower than in the same week last year.
East Coast PADD 1 inventories ended the week at 8.052 million bbl, up 476,000 bbl week-on-week and 147,000 bbl, or 1.8% lower than in the same week last year.
Midwest PADD 2 inventories ended the week at 10.138 million bbl, down 687,000 bbl week-on-week and 1.399 million bbl, or 12.1% lower than in the same week last year.
Gulf Coast PADD 3 inventories ended the week at 4.342 million bbl, down 547,000 bbl week-on-week and 277,000 bbl, or 6% lower than in the same week last year.
West Coast PADD 5 inventories ended the week at 2.704 million bbl, up 35,000 bbl week-on-week and 24,000 bbl, or 0.9% higher than in the same week last year.

IEA Seals Historic 400M Bbl Reserves Release Amid Iran War

The International Energy Agency (IEA) said its 32 oil-consuming member countries have unanimously approved the release 400 million bbl from their joint reserves to help mitigate the oil supply crisis triggered by the Iran war.

It will be the largest stockpile release ever by the IEA, accounting for a third of the total 1.2 billion bbl in emergency reserves held by the agency on behalf of the world’s oil consumers.

The IEA, created in 1974 in response to the 1973 OPEC oil embargo that caused the first major shock to global oil supplies, has coordinated five stockpile release prior to this – one each in 1991, 2005 and 2011, and twice in 2022.

“The oil market challenges we are facing are unprecedented in scale, therefore I am very glad that IEA member countries have responded with an emergency collective action of unprecedented size,” IEA Executive Director Fatih Birol said in a statement issued Wednesday.

The decision on the 400 million bbl release came after a whirlwind of meetings in recent days between the IEA and finance ministers from the Group of Seven countries, which typically lead consumer countries responses to oil market challenges.

Global energy supplies have been disrupted since the start of the Iran war on February 28, after Tehran shuttered the Strait of Hormuz that provides passage to approximately 21 million bpd of petroleum liquids and began firing missiles at fellow oil-producing neighbors in OPEC.

Separately, OPEC said in a monthly report issued Wednesday that it was too early to determine the Iran war’s full impact on the global economy. However, the producer group noted that Saudi Arabia had increased its oil production in February to 10.882 million bpd. The kingdom’s supply to the market itself reached 10.111 million bpd during that period. The ramp-up was part of a contingency plan established ahead of the latest Middle East conflict to help secure market stability.

EIA: U.S. Crude Stocks Rise to Highest Since May 2025

U.S. commercial crude oil stocks extended their rise during the week ended March 6, while gasoline, distillate and jet fuel inventories declined, Energy Information Administration (EIA) data showed Wednesday (3/11).

Crude stocks climbed by 3.8 million bbl to 443.1 million bbl during the reference week , the EIA Weekly Petroleum Status Report showed, extending the increase from previous week. The latest level marks the highest crude inventory since the week ended May 16, 2025, when stocks stood at 443.2 million bbl, or nearly a 10-month high. Compared with the same week last year, crude stocks were 7.9 million bbl higher. 

Last week’s crude stock rise was accompanied by a 100,000 bbl build at the Cushing, Oklahoma delivery point for NYMEX West Texas Intermediate futures.

Distillate fuel oil inventories fell by 1.3 million bbl to 119.4 million bbl on a weekly basis and were 1.8 million bbl higher than the same week last year. 

Jet fuel stocks slipped by 800,000 bbl to 41.2 million bbl and were 900,000 bbl lower than the same week previous year and was below the 44.1 million bbl reported in the same week last year, the EIA said. 

Total motor gasoline inventories extended their decline, falling by 3.7 million bbl to 249.5 million bbl last week. Compared with the same week last year, gasoline stocks were 8.4 million bbl higher. 

Blending components for gasoline tumbled by 3.3 million bbl to 235.2 million bbl, and were higher than the 226.4 million reported year-over-year. Conventional gasoline stocks reported a weekly fall of 400,000 bbl to 14.3 million bbl.

Refinery utilization rebounded to 90.8% last week from 89.2% of operable capacity reported the prior week, the EIA data showed.

Crude oil inputs into refineries averaged 16.17 million bpd during the week ended March 6, up from 15.84 million bpd reported a week-ago and above 15.937 million seen in the same week last year.

Crude oil exports averaged 3.43 million bpd in the profiled week, 563,000 bpd down from the previous week.

During the profiled week, crude imports averaged 6.42 million bpd a 98,000 bpd increase from last week and lower than 5.47 million bpd recorded in the same period of 2025.. 

Total products supplied over the last four weeks averaged 20.916 million bpd, up 2.0% from the same period a year earlier. Gasoline demand averaged 8.480 million bpd, down 0.1% from the same period last year, while distillate demand averaged 4.081 million bpd, lower by 0.3% from the same period last year, the EIA stated.

IEA Confirms Considering Stockpile Release After G7 Call

The International Energy Agency said Wednesday (3/11) it was considering a release of oil from its stockpiles, affirming the intent of finance ministers from the Group of Seven countries to ease the pressure on global crude supplies caused by the Iran war.

“I have convened an extraordinary meeting of IEA Member governments, which will take place later today to assess the current security of supply and market conditions to inform a subsequent decision on whether to make emergency stocks of IEA countries available to the market,” IEA executive director Fatih Birol said in a statement.

Birol said he held a meeting earlier Wednesday with G7 finance ministers to discuss the prospective release. Media reports had earlier suggested a potential IEA stockpile release of between 300 million and 400 million bbl. The global energy agency has custody of some 1.2 billion bbl of reserves that belong to consuming countries, led by the G7.

Global energy supplies have been disrupted since the start of the Iran war on February 28, after Tehran shuttered the Strait of Hormuz that provides passage to approximately 21 million bpd of petroleum liquids and began firing missiles at its fellow oil producing neighbors in OPEC.

U.S. Rack Gasoline Drops 6.9cts, First Decline This Week

Wholesale rack prices for gasoline across the United States moved lower Wednesday (3/11), as futures markets pulled back after the sharp rally earlier this week, with traders continuing to assess geopolitical risks tied to tensions involving Iran and broader Middle East developments.

Conventional unleaded gasoline rack prices averaged $2.7597 gallon, a decline of 6.88cts from Tuesday’s $2.8285 gallon, according to DTN data. The pullback follows Monday’s sharp increase, when the national average surged nearly 9.75cts from the prior session as crude and refined product futures rallied.

Nationwide ultra-low sulfur diesel (ULSD) rack prices averaged $3.4230 gallon, dropping 21.90cts from Tuesday’s $3.6420 gallon. The decline marked the second consecutive session of losses for diesel racks following last week’s steep advance, when ULSD prices surged more than $1 gallon week-over-week.

On gasoline racks, PADD 5 posted the largest decline, falling 17.59cts to $3.3606 gallon, followed by PADD 1, down 9.81cts to $2.4289 gallon. PADD 2 declined 8.01cts to $2.3031 gallon, while PADD 3 slipped 7.28cts to $2.3979 gallon. PADD 4 saw the smallest drop, easing 0.82cts to $2.5776 gallon, the same data showed.

Compared with the national average of $2.7597 gallon, all regions traded at a discount except PADD 5, which stood at a 60.09cts premium to the U.S. benchmark. The deepest discount was seen in PADD 2 at 45.66cts below the national average, followed by PADD 3 at 36.18cts, PADD 1 at 33.08cts, and PADD 4 at 18.21cts below the benchmark.

ULSD racks moved lower across most regions. The largest decline occurred in PADD 1, where prices fell 24.67cts to $3.5221 gallon. PADD 3 dropped 23.40cts to $3.3446 gallon, while PADD 5 declined 21.55cts to $3.9507 gallon. PADD 2 fell 19.96cts to $3.2468 gallon, while PADD 4 posted the smallest decrease, slipping 6.97cts to $3.4184 gallon.

Relative to the national ULSD rack average of $3.4230 gallon, PADD 5 held the strongest premium at 52.77cts, followed by PADD 1 at 9.91cts above the U.S. benchmark. PADD 4 traded nearly in line with the national average, standing 0.46cts below, while PADD 3 and PADD 2 traded at discounts of 7.84cts and 17.62cts, respectively.

In the futures market, refined products continued to trade below the highs reached earlier this week as markets reassessed geopolitical risks tied to developments in the Middle East. The front-month NYMEX ULSD April contract traded roughly 32cts below the peak reached Monday (3/9), while NYMEX RBOB gasoline for April hovered about 24cts below levels seen earlier that same session. Meanwhile, WTI crude traded roughly $30 barrel below Monday’s spike, reflecting some easing in risk premium after the sharp rally earlier in the week.

Feb. U.S. CPI Steady at 2.4% Y-o-Y Despite Energy Surge

U.S. headline inflation held steady in February as the Consumer Price Index (CPI) grew 2.4% year-on-year, matching January’s print and market expectations despite a surge in energy costs.

Core inflation, as measured by the CPI’s all-items less food and energy index, matched January’s expansion by increasing 2.5% year-on-year and in line with market expectations.

Despite the stability in both headline and core CPI, broader inflation itself has persistently remained above the Federal Reserve’s long-term target of 2% per annum, undermining  the central bank’s rationale for interest rate cuts.

The Fed, which relies more on the Personal Consumption Expenditures Index for its inflation readings, withheld a rate cut in January after a prior 25-basis point reduction in December, which brought rates to a range of 3.5–3.75%.

The February CPI data showed the energy index rising 0.6% over the month, a reversal from January’s 1.5% decline that pressured the overall index higher. For the 12 months ending in February, the energy index showed a modest increase of 0.2%.

The surge in February energy costs came as heating bills went up significantly for many consumers in the U.S. amid rallying prices of natural gas, the main component energy used during the winter. Both natural gas and crude oil prices have remained higher since the start of March, responding to the Iran war that has disrupted the global supply chain in energy.

By comparison, the food index rose by a more modest 0.4% in February but by a higher 3.1% for the year. The shelter index climbed 0.2% in February and 3.0% year-on-year.

On the heels of the latest CPI data, WTI crude oil for April delivery on NYMEX was up by $2.28, or 2.7%, at $85.73 bbl by 9:28 a.m. ET.

Analysis: New Shale Refinery to Aid U.S. Energy Security

With the historic disruption to Middle East oil flows, the launch of a U.S. refinery exclusively for domestic shale crude could reignite the debate on the need for greater national energy security.

America First Refining in Port of Brownsville, Texas, is the first large-scale U.S. greenfield refinery in almost 50 years and was officially launched on Tuesday (3/10) after several attempts since 2015.

Owned by Houston-based Element Fuels Holdings, the 160,000-bpd facility is set for first product rollout of high-octane gasoline, diesel and jet fuel in 2027.

It will partially cushion the supply lost from the closure of Lyondell’s 264,000-bpd Houston refinery, which halted operations in early 2025.

From an output standpoint, America First will be processing less than 1% of the crude handled daily by the country’s 132 refineries which together take in approximately 18 million bpd.

It is significant from another perspective though: As the first refinery purpose-built for the light, sweet crude from U.S. shale basins, it offers a model for localized supply chain independence.

Its launch coincides with a pivotal moment in U.S. energy security as the Iran war shutters the Strait of Hormuz – which provides passage to a fifth of global petroleum cargoes – jeopardizing Middle East crude arrivals that make up part of the U.S. refinery diet. Crude markets also hit four-year highs of nearly $120 bbl at the start of this week, rattling refiners over barrel economics, before prices eased on talk of potential conflict de-escalation.

The typical U.S. refinery diet is composed of high-sulfur, or sour, crude that largely comes from heavy-oil exporters like Canada, Mexico, and South American producers. While only about 10% of the 6.0 million bpd in U.S. crude imports comes from the Middle East – Saudi Arabia and Iraq, specifically – the current supply disruption highlights the vulnerability of an energy system historically reliant on imported, heavy crude.

By prioritizing 100% U.S. shale feedstock, the Brownsville facility aims to bypass such logistical risks and limitations that constrain much of the U.S. refining infrastructure. Unlike the refineries in the U.S. Gulf Coast and Midwest that require heavy retooling to accommodate the chemical profile of domestic light oil, this project is engineered to operate on U.S. shale from the outset, avoiding the costly blending processes at its rivals.

The new refinery will also run on hydrogen power that will lower its carbon output, setting it apart from traditional, fossil-fuel-reliant refineries.  

Prior to this, the last U.S. greenfield refinery – where everything is built from scratch versus brownfields where existing structures are expanded or upgraded – was opened by Marathon Petroleum in Garyville, Louisiana, in 1977. That has a scale and complexity similar to America First, launching with an initial capacity of 200,000 bpd before growing to 600,000 bpd.