MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for November 25th

Updated at 5:00 PM ET 

HEADLINES:

— Elevation Extends to Jan. 15 Colorado Pipeline Open Season

— Analysis: Chicago Fuels at Firm Discounts Ahead of Holidays

— EIA: U.S. Retail Diesel Average Price Down 3.7cts W-o-W

— EIA: U.S. Retail Gasoline Average Edge Down 0.1cts on Week

—  CB: U.S. Consumer Confidence Falls to 7Mo Low In November

NEWS:

Elevation Extends to Jan. 15 Colorado Pipeline Open Season

Elevation Midstream announced Tuesday (11/25) that its unit DJ South Gathering has extended to January 15 next year its binding open season for obtaining shipper commitments on a Colorado crude oil pipeline.

Originally, Elevation set the open season between October 27 and November 25 for the pipeline which will gather and transport crude from receipt points located in the Adams and Arapahoe Counties to delivery points at the Platteville Complex and Lucerne Station in Weld County.

The deadline has now been extended to 5:00 p.m. Central Time on January 15, 2026 Elevation said in a statement.

The extension provides an opportunity for interested shippers to secure long-term crude oil transportation on the pipeline, which supports a new crude oil gathering system in the Denver-Julesburg Basin.

Analysis: Chicago Fuels at Firm Discounts Ahead of Holidays

DAVENPORT, FL (DTN) – Chicago refined products are entering the holiday period steady, with gasoline and distillate basis values holding at consistent discounts to front-month futures; a more stable trend than earlier this year, according to DTN Energy data.

In October and November, Chicago CBOB’s monthly average narrowed from a 13.12cts discount to 11.90cts. The latest assessment of a 22cts discount puts CBOB below its 2025 average discount of 9.76cts, reflecting ample supply and softer seasonal demand. That marks a sharp contrast to earlier-year volatility, including the spring Whiting-related premium spike. November trading has remained firmly discounted, and year-over-year comparisons show a looser structure than the same period in 2024, when CBOB was only slightly discounted.

Chicago ULSD followed a similar pattern, with November averaging a 5.72cts discount to front-month ULSD futures compared with 6.18cts in October. The most recent 27.5cts discount is well below the 2025 discount average of 10.34cts, consistent with stable PADD 2 supply and muted early-winter demand. ULSD’s yearly range from a 16cts premium to a 41cts discount, highlights how calm current levels are relative to the more dramatic early- and mid-year swings.

Stronger regional refining performance continues to support that stability. According to the U.S. Energy Information Administration, PADD 2 refinery utilization reached 95.3% in the week ending November 14, well above the 87% level recorded in the same period of 2024. Market participants said steady refinery output and uninterrupted pipeline flows have kept rack conditions well supplied heading into late November.

With supply holding firm and seasonal demand manageable, Chicago’s refined product market is expected to remain steady in December. CBOB and ULSD are likely to trade near current discount levels, with any brief upticks tied to cold-weather demand or minor logistical adjustments. Barring a major refinery issue, traders said Chicago will continue to guide Midwest refined-product pricing through year-end.

EIA: U.S. Retail Diesel Average Price Down 3.7cts W-o-W

The national average price for retail diesel fuel fell by 3.7cts as of Monday (11/24), bucking last week’s rise, with decreases across most U.S. regions, according to fuel pricing data from the Energy Information Administration (EIA) data released on Tuesday (11/25).

The national average for retail diesel fuel was at $3.831 gallon last week, standing 29.2cts lower than the same period a year earlier, EIA data showed.

The Rocky Mountain region (PADD 4) posted the largest weekly drop, shedding 9cts to $3.723 gallon, while remaining 27.3cts above year-over-year.

East Coast (PADD 1) average diesel prices rose by 0.6cts to $3.862 gallon as of November 24, while staying 26.9cts higher than the same period a year earlier.

On the East Coast as well, weekly diesel prices in New England (PADD 1A) climbed by 3.6cts to $4.057 gallon, while staying up 28.1cts year-on-year.

In the Central Atlantic (PADD 1B), diesel rose by 1.1cts to $4.01 gallon, while being 22.3cts higher on the year. In the Lower Atlantic (PADD 1C), it advanced by 0.2cts to $3.789 gallon and was 28.6cts up year-on-year.

In the Midwest (PADD 2), diesel prices fell by 6.3cts to $3.85 gallon in the week ended November 24, which was 31.9cts higher than the same week last year.

West Coast (PADD 5) weekly average diesel prices slipped by 4.5cts to $4.514 gallon, marking a 33.7cts year-on-year rise.

Diesel prices at West Coast less California eased by 7.2cts to $4.108 gallon last week, while being 35.3cts above year-ago levels.

California retail diesel prices edged lower by 1.3cts to $4.983 gallon on the week but stood 32.1cts higher year-on-year.

EIA: U.S. Retail Gasoline Average Edge Down 0.1cts on Week

The national average for retail regular gasoline edged lower in the week ended November 24, with mixed movements across major regions, data from the U.S. Energy Information Administration showed Tuesday (11/25).

The U.S. average for regular gasoline slipped by 0.1cts to $3.061 gallon last week, standing 1.7cts higher compared to the same week last year, the EIA’s weekly update on fuel pricing showed.

East Coast (PADD 1) gasoline increased by 3.2cts to $2.985 gallon in the week ended November 24, while staying 2.6cts lower than the same period last year.

Within the East Coast, New England (PADD 1A) increased by 1.6cts to $2.996 gallon week-over- week, standing 0.1cts below the same week of 2024.

Central Atlantic (PADD 1B) gasoline prices dropped 0.9cts on a weekly basis to reach $3.122 gallon last week, 1cent lower than the same week of last year.

Lower Atlantic (PADD 1C) gasoline prices climbed by 6.2cts to $2.896 gallon in the profiled week, 4.1cts lower than year-ago levels.

Midwest (PADD 2) prices fell 4.9cts to $2.858 gallon last week,  0.8cts down compared to the same period of previous year.

Prices for the same product at the Gulf Coast (PADD 3) increased 4.3cts to $2.643 gallon, 0.8cts higher than last year.

Rocky Mountain (PADD 4) gasoline dropped 7.7cts to $2.872 gallon,  4.4cts up year-over- year.

West Coast (PADD 5) gasoline prices fell 5cts to $4.070 gallon, 18.6cts above the corresponding week of last year.

Gasoline prices at West Coast less California declined 4.4cts to $3.702 gallon, however they were 16.4cts higher year-on-year.

CB: U.S. Consumer Confidence Falls to 7Mo Low In November

U.S. consumer confidence fell sharply in November, with the index dropping by 6.8 points to 88.7 from a revised 95.5 in October, according to the Conference Board report released Tuesday (11/25) morning.

The Expectations Index, which reflects consumers’ short-term outlook for income, business, and labor market conditions, slid by 8.6 points to 63.2, remaining below the threshold of 80 that typically signals a recession ahead for the tenth consecutive month.

The Present Situation Index, which measures consumers’ assessment of current business and labor market conditions, fell by 4.3 points to 126.9.

“Consumer confidence tumbled in November to its second lowest level since April after moving sideways for several months,” said Dana Peterson, Chief Economist at The Conference Board, adding that “all five components of the overall index flagged or remained weak”.

Consumer expectations worsened considerably in November. “Consumers were notably more pessimistic about business conditions six months from now. Mid-2026 expectations for labor market conditions remained decidedly negative, and expectations for increased household incomes shrunk dramatically, after six months of strongly positive readings”, the report read.

Average 12-month inflation expectations remained elevated in November, with the median rate rising to 4.8%.

The share of consumers expecting a recession over the next 12 months rose in November, as did the share of consumers thinking a recession had already started.

The University of Michigan’s monthly survey released Friday (11/21) contained similar findings, attributing the drop in sentiment and expectations in part to the record-long shutdown of the federal government.