MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for October 23^RD  

Updated at 5:00 PM ET 

HEADLINES:

— Valero Q3 Refining Income at $1.6B, Almost Triple Yr-on-Yr

— CEC: California Diesel Stocks Fall 282K Bbl W-o-W

–CEC: California Gasoline Stocks Rise 332K Bbl W-o-W

–EIA reports 87 Bcf Injection into US NatGas Storage Last Wk

— Oil Futures Rise 5% on Fresh U.S. Sanctions on Russia

NEWS:

Valero Q3 Refining Income at $1.6B, Almost Triple Yr-on-Yr

Valero Energy Corp reported on Thursday (10/23) an operating income of $1.6 billion in its refining segment for the third quarter of 2025, almost triple the $565 million contribution from the sector from the same quarter a year ago.

The yield from refining was also $300 million higher than in the second quarter and extended the sector’s upswing from its negative operating income of $530 million in the first quarter.

The upbeat performance in refining helped Valero to post an overall net income of $1.1 billion for the third quarter, versus $364 million in the second.

Refining throughput volumes averaged 3.1 million bpd for the quarter in review, slightly above the 2.9 million bpd from a year ago.

The Renewable Diesel segment, which consists of the Diamond Green Diesel joint venture, reported an operating loss of $28 million, compared to an operating income of $35 million for the third quarter of last year. Segment sales volumes averaged 2.7 million gallons per day.

Valero’s ethanol segment generated $183 million in operating income, up from $153 million in the year-ago quarter. Ethanol production volumes averaged 4.6 million gallons per day.

CEC: California Diesel Stocks Fall 282K Bbl W-o-W

California diesel inventories fell in the week ending October 17, with Southern California showing the largest draw, according to the California Energy Commission’s Weekly Fuels Report released Thursday (10/23).
Statewide diesel stocks, including CARB and other grades, dropped by 282,000 bbl to 2.723 million bbl, and were essentially flat compared with year-ago levels.
Northern California diesel inventories declined by 109,000 bbl to 1.132 million bbl, down 2% from last year. CARB diesel in the north fell by 132,000 bbl to 778,000 bbl, while other diesel rose by 23,000 bbl to 354,000 bbl.
Southern California diesel inventories decreased by 173,000 bbl to 1.591 million bbl, up 1% from last year. CARB diesel in the south fell by 108,000 bbl to 835,000 bbl, while other diesel declined by 65,000 bbl to 756,000 bbl.
Statewide diesel production also fell by 201,000 bbl to 1.339 million bbl, 12% below last year.
Southern California diesel production dropped by 194,000 bbl to 813,000 bbl, and was down 32% year-on-year. CARB diesel output in the south climbed by 8,000 bbl to 417,000 bbl, while other diesel fell by 202,000 bbl to 396,000 bbl.
Northern California diesel production edged down by 7,000 bbl to 526,000 bbl, while remaining 60% higher from a year ago. CARB diesel output in the north fell by 36,000 bbl to 396,000 bbl, while other diesel climbed by 29,000 bbl to 130,000 bbl.

CEC: California Gasoline Stocks Rise 332K Bbl W-o-W

California gasoline inventories increased in the week ending October 17, led by gains in Southern California, according to the California Energy Commission’s Weekly Fuels Report released Thursday (10/23).

Statewide gasoline stocks, including CARB reformulated, non-California, and blending components, climbed by 332,000 bbl to 11.38 million bbl, and remained 14% above the same week a year ago.

Northern California gasoline inventories rose by 109,000 bbl to 4.918 million bbl, staying 15% above last year. CARB reformulated gasoline in the north fell by 51,000 bbl to 2.847 million bbl and non-California gasoline climbed by 63,000 bbl to 372,000 bbl, while blending components increased by 97,000 bbl to 1.699 million bbl.

Southern California gasoline inventories gained 223,000 bbl to 6.462 million bbl, 14% higher than 2024. CARB reformulated gasoline in the south rose by 91,000 bbl to 2.642 million bbl, non-California gasoline climbed by 177,000 bbl to 793,000 bbl, and blending components fell by 45,000 bbl to 3.027 million bbl.

Statewide gasoline production fell by 55,000 bbl to 5.205 million bbl and by 14% below year-ago levels.

Southern California gasoline production rose by 11,000 bbl to 3.33 million bbl, and was down 21% year over year. CARB reformulated gasoline output in the south climbed by 90,000 bbl to 3.049 million bbl, while non-California gasoline fell by 101,000 bbl to 281,000 bbl.

Northern California gasoline production declined by 44,000 bbl to 1.875 million bbl, and was up 2% from last year’s levels. CARB reformulated gasoline in the north climbed by 65,000 bbl to 1.765 million bbl, while non-California gasoline fell by 109,000 bbl to 110,000 bbl.

TCEQ Launches $12 Million Alternative Fuel Grant for Texas

The Texas Commission on Environmental Quality (TCEQ) announced on Wednesday (10/23) a $12 million grant program to finance the construction of alternative fueling infrastructure across 88 Texas counties.

The initiative aims to expand access to lower-emission vehicle fuels — a key component of the state’s air quality improvement efforts — and will be funded via the Texas Emissions Reduction Plan’s (TERP) Alternative Fueling Facilities Program.

Specifically designated for projects within the state’s designated Clean Transportation Zone, the grant’s ceilings will vary based on the fuel type of the proposed facility.

Compressed Natural Gas or Liquefied Natural Gas projects are eligible for up to $400,000. Combined CNG and LNG projects will receive up to $600,000.

Projects for other eligible fuels — including hydrogen, biodiesel, propane, electricity, and methanol (85% blend or greater) — are capped at $600,000 or 50% of eligible costs, whichever is less.

EIA reports 87 Bcf Injection into US NatGas Storage Last Wk

Energy Information Administration data released on Thursday (10/23) show a 87 billion cubic feet injection into U.S. natural gas storage to 3.808 trillion cubic feet in the week ended October 17.
Natural gas in U.S. storage is 0.9% higher than last year and 4.5% above the five-year average of 3.644 Tcf.
Regionally, EIA reports the East registered a 16 Bcf injection to 899 Bcf, 0.1% less than a year ago and 1.8% higher than the five-year average.
Natural gas in storage in the Midwest increased 29 Bcf week-on-week to 1060 Bcf, a 2.1% deficit compared to the same week a year ago and 0.3% higher than the five-year average.
Mountain region natural gas in storage increased 3 Bcf, down 2.8% year-on-year to 18% above the five-year average.
South Central storage rose 34 Bcf to 1255 Bcf, 4.7% more than in the same week last year and 6% above the five-year average.

Oil Futures Rise 5% on Fresh U.S. Sanctions on Russia

Oil futures rose 5% on Thursday (10/23) morning, hitting two-week highs, following fresh U.S. sanctions on Russia’s oil trade and reports of a decline in commercial crude inventories last week.

NYMEX WTI futures for December delivery were up $3, or 5.1%, at $61.50 bbl, after a two-week high at $62.08. The ICE Brent crude futures contract for December delivery rose $3.02, or 4.8%, to $65.61 bbl after a session peak at $66.12.

The surge in WTI and Brent follows three prior weeks of losses and a rally on the previous trading session driven by U.S. Energy Information Administration’s data showing drawdowns in stockpiles of crude, gasoline and distillates for the week ended October 17.

November RBOB gasoline futures climbed $0.0620 to $1.927 gallon, while the front-month ULSD futures contract rose $0.1275 to $2.3771 gallon.

The U.S. Dollar Index advanced by 0.202 points to 98.875 against a basket of foreign currencies.

On Wednesday (10/22) the U.S. Department of the Treasury (USDT) announced sanctions against Rosneft and Lukoil blocking all property and interests associated with the companies in the United States or under the control of U.S. persons. The U.S. has imposed numerous sanctions on Russia’s energy and oil trade since the invasion of Ukraine in 2022.

In 2020, during the first term of U.S. President Donald Trump, the USDT imposed sanctions on Rosneft for operating in Venezuela’s oil sector, which is also on the list of nations sanctioned by the U.S. government.