MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News July 14th:

Updated at 5:25 PM ET 

HEADLINES:

— API: Crude Stocks Continue 12-Week Decline

— Los Angeles Jet Fuel Basis Strengthens 7cts on Active Trade

— PBF Torrance Refinery Reports Planned Week-Long Flaring

— BLS: U.S. CPI Slides on Plummeting Energy Prices in June

— EIA: U.S. Retail Gasoline Average Rises 7.8cts on Week

— EIA: Weekly U.S. Diesel Price Hits 1-Month High

— Analysis: Gasoline Stocks Dip as Refiners Shift to Jet Fuel

— Ranger Energy to Build Three ECHO Rigs for Chevron

— Alon USA Reports Flaring at Big Spring Refinery

NEWS:

API: Crude Stocks Continue 12-Week Decline

U.S. crude oil stockpiles declined for a 12th consecutive week during the week ended July 10, while gasoline inventories also moved lower and distillate fuel stocks increased, the American Petroleum Institute (API) reported on Tuesday (7/14).

U.S. commercial crude oil stocks fell by 564,000 bbl last week, above the 399,000 bbl draw reported in the previous week.

API reported a crude inventory build of 238,000 bbl at the Cushing, Oklahoma, delivery point for NYMEX West Texas Intermediate futures, reversing the 69,000 bbl draw seen during the prior week.

Gasoline inventories declined by 1.664 million bbl, below the 2.929 million bbl draw reported in the previous week.

Distillate fuel oil stocks increased by 2.3 million bbl, reversing the 1.801 million bbl draw reported last week.

Los Angeles Jet Fuel Basis Strengthens 7cts on Active Trade

Los Angeles jet fuel basis strengthened Tuesday (7/14), recovering from recent weakness, as market participants monitored tightening spot values amid mixed regional supply fundamentals.
Los Angeles jet fuel traded at a 28cts discount to August NYMEX ULSD futures, up 7cts from Monday’s (7/13) last pegged level of a 35cts discount, according to West Coast market participants.
The rebound comes as West Coast jet fuel inventories remain below year-ago levels. U.S. Energy Information Administration data for the week ended July 10 showed jet fuel inventories in PADD 5 climbed by 100,000 bbl to 11.1 million bbl. Inventories were 100,000 bbl below the level reported during the same period last year.
Jet fuel imports into PADD 5 fell by 47,000 bpd to zero during the reporting week and were unchanged from the same week a year earlier.

PBF Torrance Refinery Reports Planned Week-Long Flaring

PBF Energy reported on Tuesday (7/14) a planned week-long flaring event at its 166,000 bpd Torrance, California refinery,  according to a filing with the South Coast Air Quality Management District.
The filing listed the reason for the emission event as startup and shutdown operations. Flaring began at 9:26 a.m. PT on Monday (7/13) and is expected to continue through 11:59 p.m. PT on Monday (7/20). 
PBF reported an unplanned flaring event on July 8 that the company attributed to a mechanical and electrical malfunction.

Unlike the previous incident, the current filing indicates the emissions are associated with planned startup and shut down operations rather than an unexpected operational disruption.

California’s refining system remains tight following the shutdown of Phillips 66’s 139,000 bpd Los Angeles refinery in the fourth quarter of 2025 and the ongoing closure of Valero’s 145,000 bpd Benicia refinery, reducing fuel supply conditions across the West Coast.

BLS: U.S. CPI Slides on Plummeting Energy Prices in June

The U.S. Consumer Price Index (CPI) dipped 0.4% month-on-month in June, bringing the annual rate of inflation for the all-items index to 3.5%, according to data released Wednesday (7/14) morning by the U.S. Bureau of Labor Statistics (BLS).

The decrease – the largest monthly decline since April 2020 – was spearheaded by a 5.7% contraction in the energy index which more than offset rising food and housing costs.

The gasoline index decreased 9.7% on the month, but was still up 26.7% on the year, leading to a 15.7% year-on-year increase in the energy index.

The all-items less food and energy index, the so-called core inflation, was unchanged from May, rising 2.6% year-on-year in June.

The slowdown in consumer price inflation was larger than expected, but still not enough to rule out the Federal Reserve hiking interest rates in the second half of the year, particularly considering rebounding oil prices amid the recent escalation between the U.S. and Iran. Following the data release, the U.S. dollar index slipped 0.335 points to 100.53 against a basket of foreign currencies, down 0.48 points on the day.

EIA: U.S. Retail Gasoline Average Rises 7.8cts on Week

The national average for retail regular gasoline increased in the week ended July 13, with prices rising across most major regions, while West Coast less California was the only region to post a weekly decline, data from the U.S. Energy Information Administration showed Tuesday (7/14).
The U.S. average for regular gasoline climbed by 7.8cts to $3.855 gallon last week, standing 72.5cts higher compared to the same week last year, the EIA’s weekly update on fuel pricing showed.
East Coast (PADD 1) gasoline increased by 6.5cts to $3.765 gallon in the week ended July 13, while staying 77.8cts above the same period last year.
Within the East Coast, New England (PADD 1A) increased by 4.5cts to $3.851 gallon week over week, standing 84cts above the same week of 2025.

Central Atlantic (PADD 1B) gasoline prices climbed 5.1cts on a weekly basis to reach $3.925 gallon last week, 77.7cts higher than the same week last year.
Lower Atlantic (PADD 1C) gasoline prices increased by 8cts to $3.642 gallon in the profiled week, 76cts above year ago levels.
Midwest (PADD 2) prices rose 13.1cts to $3.662 gallon last week, 62.9cts higher compared to the same period last year.
Prices for the same product at the Gulf Coast (PADD 3) increased 8cts to $3.423 gallon, 68.5cts above last year.
Rocky Mountain (PADD 4) gasoline climbed 16.2cts to $3.823 gallon, 69.5cts higher year over year.
West Coast (PADD 5) gasoline prices increased 0.1cts to $4.832 gallon, 79.1cts above the corresponding week of last year.
Gasoline prices at West Coast less California declined 2.9cts to $4.393 gallon, however they were 61.3cts higher year on year.

EIA: Weekly U.S. Diesel Price Hits 1-Month High

The U.S. Energy Information Administration reported Tuesday (7/14) that retail diesel prices increased during the week ended July 13, ending an eight-week streak of declines, with the national average rising 21.8cts to $4.796 gallon, the highest level since the week ended June 15, when it averaged $5.059 gallon.

Compared with the same time last year, diesel nationwide was up $1.038 gallon on average.

The weekly increase was led by a 32.1cts jump in the Gulf Coast PADD 3 region to $4.546 gallon, while the only decline occurred in the New England PADD 1A region, where prices fell 3.1cts to $5.189 gallon.

The rebound followed a sharp increase in wholesale diesel prices over the past week as tighter distillate fundamentals and stronger futures lifted retail values across most regions after two months of steady declines.

East Coast diesel prices rose 20.0cts to $4.894 gallon for the week ended July 13. This PADD 1 region showed a $1.101 gallon increase compared with the same period last year.

New England diesel prices declined 3.1cts to $5.189 gallon. Compared with the same time last year, this PADD 1A region was up $1.220 gallon.

The Central Atlantic witnessed a 5.8cts increase on the week. Prices in the PADD 1B region averaged $5.204 gallon, rising $1.251 compared with the previous year.

Diesel prices in the Lower Atlantic averaged $4.748 gallon. This PADD 1C region reflects a 27.1cts increase on the week and a $1.032 gallon rise from the same time last year.

In the Midwest, diesel prices rose 20.1cts on the week. The PADD 2 region averaged $4.659 gallon, which was $0.926 gallon higher than levels seen a year earlier.

On the Gulf Coast, diesel climbed 32.1cts on the week to $4.546 gallon. Compared with the prior year, prices in PADD 3 were up $1.143 gallon.

Rocky Mountain diesel rose 11.6cts on the week to $4.600 gallon. The PADD 4 region posted a $0.887 gallon increase compared with the same time last year.

West Coast diesel prices increased 12.5cts on the week to average $5.550 gallon. Compared with the previous year, the PADD 5 region was up $1.052 gallon.

West Coast less California diesel increased 18.8cts on a weekly basis to $5.052 gallon. This represented a $0.930 gallon increase from the same time last year.

California diesel itself rose 5.3cts on the week to $6.126 gallon. Prices in the state remain the highest in the nation, sitting at $1.194 gallon above levels seen at the same time last year.

 Analysis: Gasoline Stocks Dip as Refiners Shift to Jet Fuel

Nationwide gasoline stockpiles have dropped to their seasonally lowest since 2012, U.S. Energy Information Administration data released last week showed.

Total gasoline inventories as of July 3 stood at 212.06 million bbl, marking a fourteen-year low for the corresponding reporting week. They were trailing both year-ago levels and the five-year seasonal average by more than 7% and were over 9% below the ten-year seasonal average.

The main driver behind depleted stockpiles was an unprecedented draw pace throughout April and most of May. Refined product exports soared amid the Strait of Hormuz supply disruption, while domestic refiners optimized operations to maximize jet fuel production. Jet fuel was the product most affected by the disruption and consequently the one fetching the highest margins.

Gasoline inventories recorded eight consecutive weekly draws during April and May, culminating in a 29.27 million bbl decline, meaning they shrank at a rate of 523,000 bpd, three to four times as fast as the typical seasonal decline. In April alone, they fell by some 18.56 million bbl. Simultaneously, gasoline exports clocked in at 868,000 bpd, up 111,000 bpd, or nearly 15%, year-on-year.

During the same time, domestic jet-fuel production rocketed to record levels, at the expense of gasoline output. Kerosene-type jet fuel output was up more than 9%, or some 170,000 bpd, year-on-year during these two months, while refiner production of gasoline was 90,000 bpd below year-ago levels despite higher run rates.

The shift, combined with the renewed concerns over potential supply disruptions from the Middle East, is set to keep gasoline inventories seasonally tight even as refiners ramp up operations to meet summer driving demand. Over the past four weeks, finished motor gasoline production was down 117,000 bpd year-on-year, while jet fuel production registered a 210,000-bpd increase compared to the same period in 2025.

Ranger Energy to Build Three ECHO Rigs for Chevron

Ranger Energy Services announced Tuesday (7/14) it has signed a contract with Hess Corporation, a Chevron subsidiary, to deploy three additional ECHO hybrid rigs workover in the Lower 48 United States.

Ranger’s ECHO workover rig is the industry’s first hybrid double electric workover rig aimed at the conversion and electrification of its conventional rig fleet, according to a company statement.

The three additional ECHO workover rigs contemplated under the contract are expected to be delivered to Chevron in 2027. The rigs will be equipped with winterization packages and are expected to operate in the Bakken.

 With these additions, Ranger’s active ECHO rig fleet is expected to reach twenty rigs by the end of 2027.

Alon USA Reports Flaring at Big Spring Refinery

Alon USA, a subsidiary of Delek U.S. Holdings, reported flaring at the South Flare unit of its 74,000 bpd Big Spring, Texas, refinery,  according to an initial report filed with state regulators.

The incident began at 10:46 a.m. on Monday (7/13) and lasted approximately 13 hours before concluding at 11:46 p.m. that same evening.

The release originated from the facility’s South Flare, which is connected to the Fluid Catalytic Cracking Unit (FCCU). According to the report, the event was caused by an equipment malfunction that resulted in sulfur dioxide emissions exceeding the reportable quantity limit of 118.7 pounds per hour.