MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for November 5th

Updated at 5:00 PM ET 

HEADLINES:

—  AAR: Petroleum Carloads Down 1.6% for Week to Nov. 1

—  EIA: Lower 48 Wells Yield Less as U.S. Oil Output Soars

—  EIA: PADD 2 Gasoline Stocks Slip 0.9M Bbl on Week

—  EIA: PADD 5 Crude Stocks Climb 900,000 Bbl to 47.4M Bbl

—  EIA: PADD 1 Gasoline Stocks Drop 1.8M Bbl

—  EIA: U.S. Crude Stocks Up 5.2M Bbl W-o-W; Fuel Down

—  U.S. Ethanol Output Rises, Stocks Up 2.8% Y-o-Y

—  EIA: Propane/Propylene Stockpiles Rise 5.6% Y-o-Y

—  Pembina Signs Petronas for Cedar LNG Capacity

NEWS:

AAR: Petroleum Carloads Down 1.6% for Week to Nov. 1

SECAUCUS, NJ (DTN) — The Association of American Railroads (AAR) data show petroleum and petroleum product carloads totaled 10,830 in the week ending November 1, down by 1.6% from the same week a year ago.

Year to date, petroleum and petroleum products carloads totaled 454,746, down by 1.1% from the corresponding period of the prior year, AAR reported this week.

AAR reports total U.S. weekly rail traffic at 496,928 carloads and intermodal units in the week profiled, down 3.9% when compared with the same week last year.

Total carloads for the week-ended November 1 reached 227,209, down 0.7% compared to the same week last year, while U.S. weekly intermodal volume was 269,719 containers and trailers, a 6.4% decrease from the previous year.

For the first 44 weeks of 2025, U.S. railroads reported cumulative volume of 9,780,010 carloads, higher by 1.9% compared to the same period of last year, and 11,942,436 intermodal units, up 2.8% from the prior year.

Total combined U.S. traffic for the first 44 weeks of 2025 was 21,722,446 carloads and intermodal units, reflecting a 2.4% increase compared to last year

EIA: Lower 48 Wells Yield Less as U.S. Oil Output Soars

Crude oil production from existing wells in the lower 48 U.S. states fell 39% at the end of last year from the prior year due to declines in reservoir pressure, Energy Information Administration data released Wednesday (11/05) showed.

Output from the Lower 48 wells fell to 6.7 million bpd in December 2024, from 11 million bpd a year earlier.

The declining yield runs contrary to total U.S. oil production itself, which hit a record high of 13.8 million bpd in August, according to EIA data.

Natural gas production from wells existing before last year declined to 88.4 billion cubic feet per day in December 2024 from 115.4 Bcfd the prior year. That was a drop of 23%.

Well production declines over time as reservoir pressure decreases, the EIA said, adding that horizontal wells typically exhibit higher decline rates than vertical wells.

Horizontal wells currently account for 94% of oil production and 92% of gas output in the Lower 48. U.S. drillers brought more than 15,000 new wells online in 2024, including approximately 11,700 horizontal wells, the EIA noted.

EIA: PADD 2 Gasoline Stocks Slip 0.9M Bbl on Week

Midwest PADD 2 gasoline and distillate inventories fell while stockpiles of jet fuel and crude oil rose during the week ending October 31, U.S. Energy Information Administration data released Wednesday (11/5) showed.

PADD 2 gasoline stocks fell 900,000 bbl to 42.5 million bbl in the profiled week, and were 1.8 million bbl lower than the level recorded in the same week last year. Gasoline imports dropped to 17,000 bpd from 21,000 bpd the prior week, compared with 1 million bpd in the same week last year.

PADD 2 distillate inventories declined by 1.2 million bbl to 23.8 million bbl in the reference week, below the 26.3 million bbl recorded in the same week last year. The region reported no distillate imports, unchanged from the prior week and the same week last year.

Midwest jet fuel inventories rose by 200,000 bbl last week to 6.9 million bbl. That was 400,000 bbl lower than the volume reported in the same week last year. The region continued to report zero imports of jet fuel on both a weekly and year-over-year basis.

Crude oil inventories in PADD 2 rose by 800,000 bbl to 104.5 million bbl in the week ending October 31, compared with 106.7 million bbl reported during the same week last year.

EIA: PADD 5 Crude Stocks Climb 900,000 Bbl to 47.4M Bbl

West Coast gasoline stocks slightly increased in the week ending October 31, putting an end to the prior four-week decline, according to U.S. Energy Information Administration data released Wednesday (11/5).

Gasoline inventories were little changed at 28.3M bbl, up 2.5M bbl from last year’s 25.8M bbl. Gasoline imports climbed sharply to 268,000 bpd from 135,000 bpd the prior week and were significantly higher than the 8,000 bpd recorded in the same reference week last year.

Distillate inventories fell by 300,000 bbl to 12.2M bbl from 12.5M bbl, standing 1.6M bbl above last year’s 10.6M bbl. Distillate imports fell to 7,000 bpd from 15,000 bpd, down from 12,000 bpd in 2024.

Crude oil inventories in the West Coast climbed by 900,000 bbl to 47.4M bbl from 46.5M bbl, up 700,000 bbl from last year’s 46.7M bbl. Crude stocks saw the largest weekly build among all PADD 5 products, supported by steady regional production and lower refinery runs.

Jet fuel inventories fell by 500,000 bbl to 11.1M bbl from 11.6M bbl, standing 600,000 bbl higher than last year’s 10.5M bbl. Jet fuel imports declined to 76,000 bpd from 93,000 bpd, also lower than 114,000 bpd the year previous.

EIA: PADD 1 Gasoline Stocks Drop 1.8M Bbl

SECAUCUS, NJ (DTN) — East Coast PADD 1 gasoline fell and distillate inventories rose during the week ending October 31, while stocks jet fuel slipped and crude oil saw no change, U.S. Energy Information Administration data released Wednesday (11/05) showed.

PADD 1 gasoline stocks fell by 1.8 million bbl to 51.7 million bbl in the profiled week, and were 2.4 million bbl lower than the level recorded in the same week last year. Gasoline imports increased to 270,000 bpd from 293,000 bpd the prior week, compared with 207,000 bpd in the same week last year.

PADD 1 distillate inventories rose by 900,000 bbl to 26.4 million bbl in the reference week, and were down from the 32.2 million bbl in the same week last year. The region reported no distillate imports, unchanged from the prior week and the same week last year.

East Coast jet fuel inventories fell by 400,000 bbl last week to 9.3 million bbl and were 1.9 million bbl lower than the volume reported in the same week last year. The region continued to report zero imports for jet fuel on both a weekly and year-over-year basis.

Crude oil inventories in PADD 1 also saw no change at 8.1 million bbl in the week ending October 31, compared with the 8.1 million bbl reported during the same week last year.

EIA: U.S. Crude Stocks Up 5.2M Bbl W-o-W; Fuel Down

SECAUCUS, NJ (DTN) — U.S. commercial crude oil inventories rose during the week ended October 31, snapping two straight weeks of declines, while gasoline and distillate fuel oil stocks fell, the Energy Information Administration reported Wednesday (11/05).

Commercial crude stocks increased by 5.2 million bbl to 421.2 million bbl, following the prior week’s 6.8 million bbl drop. Inventories are now 6.5 million bbl, or 1.5%, below levels last year.

Stocks at Cushing, Oklahoma, the delivery point for NYMEX West Texas Intermediate futures, rose by 300,000 bbl to 22.9 million, marking the second build in six weeks.

Distillate fuel oil inventories declined by 600,000 bbl to 111.5 million bbl, after posting a 3.4 million bbl draw the prior week. Stocks are now 4.3 million bbl below the same period last year, with most of the draw occurring in low-sulfur grades.

Total motor gasoline inventories fell by 4.7 million bbl to 206 million bbl, following a 6-million bbl decline the prior week. Blending components accounted for most of the decrease, dropping by 4.1 million bbl to 191.4 million bbl, while conventional gasoline edged up by 600,000 bbl to 14.6 million bbl.

Refinery utilization stood at 86% of capacity, down 0.6 percentage points from the prior week. Crude runs averaged 15.26 million bpd, up 37,000 bpd week-on-week.

Crude exports averaged 4.367 million bpd, up 6,000 bpd from the previous week, while crude imports rose by 873,000 bpd to 5.924 million bpd.

Total products supplied over the last four weeks averaged 20.344 million bpd, down 237,000 bpd from the same period a year ago. Gasoline demand averaged 8.874 million bpd last week, up 0.5% year-on-year, while distillate demand averaged 3.71 million bpd, up by 8.9% year-on-year.

U.S. Ethanol Output Rises, Stocks Up 2.8% Y-o-Y

VIENNA (DTN) — The Energy Information Administration reported on Wednesday (11/5) that overall ethanol production in the United States averaged 1.123 million bpd, up 32,000 bpd week-on-week and 18,000 bpd, or 1.6% higher than in the same week last year. Four-week average output at 1.1 million bpd was 23,000 bpd above the same four weeks last year.

Midwest ethanol production averaged 1.061 million bpd, up 25,000 bpd week-on-week and 19,000 bpd, or 1.8% higher than in the same week last year. In the Midwest, four-week average output at 1.043 million bpd was 27,000 bpd above the same four weeks last year.

Ethanol blending activity in the U.S. averaged 904,000 bpd, down 7,000 bpd week-on-week and 14,000 bpd, or 1.5% lower than in the same week last year. Four-week average blending demand at 910,000 bpd was 7,000 bpd below the same four weeks last year.

Blender inputs at the East Coast were down 2,000 bpd on the week while inputs in the Midwest were up 1,000 bpd, down 6,000 bpd on the Gulf Coast and down 2,000 bpd on the West Coast.

Domestic ethanol inventories ended the week at 22.655 million bbl, up 288,000 bbl week-on-week and 635,000 bbl, or 2.8% higher than in the same week last year.

East Coast PADD 1 inventories ended the week at 6.496 million bbl, up 109,000 bbl week-on-week and 370,000 bbl, or 5.7% lower than in the same week last year.

Midwest PADD 2 inventories ended the week at 9.151 million bbl, up 354,000 bbl week-on-week and 493,000 bbl, or 5.4% higher than in the same week last year.

Gulf Coast PADD 3 inventories ended the week at 4.166 million bbl, up 19,000 bbl week-on-week and 101,000 bbl, or 2.4% higher than in the same week last year.

West Coast PADD 5 inventories ended the week at 2.482 million bbl, down 190,000 bbl week-on-week and 407,000 bbl, or 16.4% higher than in the same week last year.

EIA: Propane/Propylene Stockpiles Rise 5.6% Y-o-Y

VIENNA (DTN) — The Energy Information Administration reported on Wednesday (11/5) total domestic propane/propylene stocks of 106.094 million bbl in the week ending October 31, up 413,000 bbl week-on-week and 5.585 million bbl, or 5.6% higher than in the same week last year.

Data show propane/propylene exports last week averaged 1.964 million bpd, up 315,000 bpd week-on-week and 386,000 bpd, or 19.7%, higher than in the same week last year.

Implied demand for propane/propylene in the United States averaged 944,000 bpd, down 20,000 bpd week-on-week and 366,000 bpd, or 38.8% lower than in the same week last year.

EIA reports domestic propane/propylene production averaged 2.851 million bpd, down 7,000 bpd week-on-week and 97,000 bpd, or 3.4% higher than in the same week last year.

East Coast PADD 1 inventories ended the week at 9.718 million bbl, up 371,000 bbl week-on-week and 1.312 million bbl, or 15.6% higher than in the same week last year.

Midwest PADD 2 inventories ended the week at 27.891 million bbl, down 305,000 bbl week-on-week and 1.013 million bbl, or 3.5% lower than in the same week last year.

Gulf Coast PADD 3 inventories ended the week at 63.119 million bbl, up 527,000 bbl week-on-week and 6.033 million bbl, or 10.6% 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 5.366 million bbl, down 179,000 bbl week-on-week and 748,000 bbl, or 12.2% lower than in the same week last year.

Pembina Signs Petronas for Cedar LNG Capacity

SECAUCUS, NJ (DTN) – Canada’s Pembina Pipeline Corporation announced Wednesday (11/05) it has signed a 20-year agreement to provide Malaysian oil and gas firm Petronas with 1 million tonnes per annum (mtpa) of transportation and liquefaction capacity at the Cedar LNG liquefaction plant in British Columbia.

The agreement follows a 20-year service pact for 1.5 mtpa signed by Pembina in June to support Cedar LNG’s final investment decision.

The deal with Petronas marks the first step in Pembina’s remarketing efforts for that capacity, the two companies said in a joint statement.

Pembina expects to reach definitive agreements for the remaining 0.5 mtpa by the end of 2025, the statement added.

The $4 billion Cedar LNG project, a partnership between the Haisla Nation and Pembina, is expected to enter into service in late 2028.