MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for December 30th:

Updated at 5:00 PM ET 

HEADLINES:

— API: U.S. Crude Builds; Gasoline Leads Product Builds

— Fed Minutes Show Division Over 2026 Rate Cuts

— EIA: U.S. Retail Diesel Prices Down 4.4cts on Week

— EIA: U.S. Average Retail Gasoline Price Dips 3cts on Week

— EIA: PADD 2 Gasoline Stocks Rise for Third Straight Week

— EIA: PADD 3 Gasoline Stocks Hit 11-Mo High Last Week

— EIA: PADD 1 Gasoline, Jet Stocks Up; Distillates Fall

— EIA: PADD 5 Gasoline Stocks Slip for Second Straight Week

NEWS:

API: U.S. Crude Builds; Gasoline Leads Product Builds

U.S. crude oil stockpiles increased for a second consecutive week, led by a sizable build in gasoline alongside increases in distillates, according to inventory data released by the American Petroleum Institute (API) on Tuesday (12/30).

U.S. commercial crude oil stocks rose by 1.7 million bbl during the week ended December 26, the API data showed. The build follows a 2.4 million bbl increase reported by API the prior week, reinforcing a short-term shift away from the drawdowns seen earlier in December.

The crude inventory increase for the profiled week coincided with an 800,000 bbl build at the Cushing, Oklahoma, delivery point for NYMEX West Texas Intermediate futures, marking a second consecutive weekly increase following a 600,000 bbl build the prior week.

Gasoline inventories surged by 6.2 million bbl, sharply accelerating from the 1.1 million bbl build reported a week earlier.

Distillate fuel oil stocks climbed by 1 million bbl, following a 700,000 bbl build the previous week.

Fed Minutes Show Division Over 2026 Rate Cuts 

SECAUCUS, NJ (DTN) – Policy makers at the Federal Reserve expect to lower interest rates further if U.S. inflation continues to ease, according to minutes of the central bank’s December 10 meeting released Tuesday (12/30).

Fed officials appeared open to further easing even as three of its 12 voting members dissented against this month’s 25-basis-point cut. This reduction, the third this year, lowered the U.S. lending rates to a range of 3.5% to 3.75%.

Austan Goolsbee and Jeffrey Schmid, presidents of the Chicago and Kansas City Fed, respectively, dissented, arguing against front-loading cuts before inflation reached the 2% target. Conversely, Governor Stephen Miran – formerly of the White House Council of Economic Advisers – pushed for a larger 50-basis-point cut to address labor risks.

The U.S. Consumer Price Index for November, delayed by a federal shutdown and released December 18, showed a 2.7% year-on-year growth. The reading came below the 3.1% forecast, fueling hopes for further rate moderation even as inflation remains above the Fed’s long-term goal of a 2% target.

The Fed is trying to balance its dual mandate of keeping price growth stable while maximizing employment after the unemployment rate hit a four-year high of 4.6% in November. While officials signaled a wait-and-see approach for January, projections point to just one rate cut throughout 2026.

EIA: U.S. Retail Diesel Prices Down 4.4cts on Week

The national average weekly price for retail diesel fuel fell by 4.4cts as of Monday (12/29) amid continued declines in all U.S. regions despite freezing temperatures that usually result in greater demand for distillates-based heating, pricing data released Tuesday (12/30) by the Energy Information Administration (EIA) showed.

The national average for retail diesel fuel stood at $3.50 gallon, after its fourth straight weekly decline. The national average was also down 0.03cts year-on-year, although regions such as the East Coast and West Coast showed higher pricing compared with a year ago.

Lower diesel supply versus 2024 has kept year-on-year prices supported in some cases despite weekly drops. Freezing temperatures have also limited the downside in diesel prices, a proxy for heating oil.

The East Coast (PADD 1) saw average diesel prices move lower by 2.9cts to $3.645 gallon as of December 29, while staying 5.8cts above the same period last year, as colder temperatures began to lift heating oil demand in the region.

On the East Coast as well, weekly diesel prices in New England (PADD 1A) fell by 1.2cts to $4.035 gallon, while staying up by 28.2cts year-over-year, in a region more directly exposed to winter heating demand that draws from the distillate pool.

In the Central Atlantic (PADD 1B), diesel slipped by 1.7cts to $3.875 gallon, while standing 10.1cts higher on the year.

In the Lower Atlantic (PADD 1C) – where milder temperatures limited winter-driven demand, diesel fell by 3.5cts to $3.522 gallon, while remaining up by 2.1cts year-over-year.

In the Midwest (PADD 2), diesel prices dropped by 5.9cts to $3.424 gallon during the week ended December 29. Midwest diesel stood 4.5cts lower than the same week last year.

In the Gulf Coast (PADD 3), weekly average diesel prices declined by 3cts to $3.184 gallon, while holding 1.2cts above levels from a year earlier, supported by ample refining capacity and steady supply.

In the Rocky Mountain region (PADD 4), diesel dropped by 7.1cts to $3.233 gallon, posting the largest weekly declines among all PADD regions. PADD 4 diesel was also 13.7cts below the same period last year.

In the West Coast (PADD 5), weekly average diesel prices fell by 4.9cts to $4.156 gallon, while marking a 4.6cts year-over-year rise as winter-grade diesel production and higher costs continued to influence prices.

Diesel prices at West Coast less California decreased by 4.7cts to $3.719 gallon last week. Year-on-year, it was up by 1.4cts.

California diesel prices declined by 5.1cts to $4.66 gallon on the week but stood 8.4cts higher on the year, reflecting both seasonal demand and ongoing supply constraints.

EIA: U.S. Average Retail Gasoline Price Dips 3cts on Week

The national average for retail regular gasoline declined in the week ended December 29, with prices falling across nearly every major U.S. region, data from the Energy Information Administration reported Tuesday (12/30).

The U.S. average for regular gasoline fell by 3cts to $2.811 gallon last week, 19.5cts lower than the same week last year, the EIA’s weekly update on fuel pricing showed.

East Coast (PADD 1) gasoline slipped 3.9cts to $2.781 gallon in the week ended December 29, 17.5cts down compared to the same period last year.

Within the East Coast, New England (PADD 1A) prices decreased 2cts to $2.867 gallon week over week and a 11.1cts decline year-on-year.

Central Atlantic (PADD 1B) gasoline prices dropped 2.5cts to $2.939 gallon last week,12.7cts under last year’s level.

Lower Atlantic (PADD 1C) gasoline prices dipped 5.2cts to $2.662 gallon in the profiled week and were 21.9cts less than the previous year.

Midwest (PADD 2) prices edged up 0.1ct to $2.606 gallon, 26.9cts below the same period last year.

Prices for the same product in the Gulf Coast (PADD 3) dropped by 5.3cts to $2.390 gallon, a 22.3cts decline from last year.

Rocky Mountain (PADD 4) gasoline declined by 5.8cts to $2.434 gallon in the reference week, 44.7cts weaker year-on-year.

West Coast (PADD 5) gasoline prices slid 3.7cts to $3.731 gallon, while 3.9cts lower than the corresponding week last year.

Gasoline prices at West Coast less California decreased 4cts to $3.382 gallon in the reference week, while 2.3cts lower year-on-year.

EIA: PADD 2 Gasoline Stocks Rise for Third Straight Week

Midwest (PADD 2) inventories for gasoline and jet fuel increased in the week ending December 19, while distillate fuel stocks declined and crude oil inventories edged slightly higher, U.S. Energy Information Administration data released Monday (12/29) showed. The weekly petroleum status report was published later than usual due to the Christmas holiday.

PADD 2 gasoline stocks rose by 600,000 bbl to 49.4 million bbl in the reference week, compared with 47.7 million bbl in the same week of the prior year. This marked the third consecutive weekly increase in Midwest gasoline inventories.

Motor gasoline blending component stocks also increased, climbing by 200,000 bbl to 44.8 million, above the 44.1 million held a year earlier. The sustained builds have further improved near-term supply coverage across the Midwest, keeping gasoline inventories modestly above levels from a year earlier and reinforcing a more comfortable supply backdrop following earlier seasonal tightness.

That inventory trend has pressured prices, with Midwest (PADD 2) retail gasoline averaging $2.605 gallon last week, down by 8.5cts on the week and standing 33cts below the same period a year earlier.

Regional distillate fuel oil inventories declined by 200,000 bbl to 25.9 million bbl, slipping further below the 27.2 million bbl reported in the same week last year. The region held 25.2 million bbl of ultra-low sulfur diesel, unchanged from the prior week but lower than the 26.4 million registered a year earlier.

The changes underscore a tighter stock position in Midwest distillates as winter demand remains elevated across northern markets. Even as inventories remained comparatively tight, diesel prices moved sharply lower on the week, with Midwest (PADD 2) retail diesel falling by 8.4cts to $3.483 gallon in the week ended Dec. 22. Despite the decline, Midwest diesel prices remained 3.4cts higher than the same week last year.

Jet fuel inventories in PADD 2 increased by 200,000 bbl to 8.1 million, compared with 7.3 million in the same week of the prior year. The build in Midwest jet fuel stocks comes amid improving inventory coverage following earlier seasonal draws.

Crude oil inventories in PADD 2 rose by 2.2 million bbl to 104.3 million bbl and remained near recent ranges, compared with 103.9 million bbl in the same week last year.

PADD 2 crude imports rose by 33,000 bpd to 3.124 million on the week and were above the 2.772 million bpd in the same week of the prior year.

EIA: PADD 3 Gasoline Stocks Hit 11-Mo High Last Week

U.S. Gulf Coast (PADD 3) gasoline inventories hit an 11-month high last week, while distillates inventories also increased and jet fuel stock declined in the week ended December 19, according to Energy Information Administration data released late Monday (12/29).

Motor gasoline inventories in the Gulf Coast region amounted to 88.1 million bbl last week, 1.1 million bbl higher than the prior week and the highest volume reported since January 31 when it was at 87.03 million, EIA data showed. This was also up by 5.2 million bbl compared to the same week last year. Gasoline imports in the region amounted to 10,000 bpd in the reference week compared to zero imports last week, but they were higher by 4,000 bpd in the same week of the prior year.

Distillate fuel oil stocks in PADD 3 climbed by 2.1 million bbl to 48.5 million bbl week-over-week. Inventories of the same products were 10.1 million bbl above year-over-year, the EIA reported.

In contrast, jet fuel inventories on the Gulf Coast dropped by 100,000 bbl to 14.2 million bbl on a weekly basis and were flat year-over-year.

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

Low demand during the winter season and a higher refinery utilization reported at 97.01% in the week ended December 19, compared to 96.4% the prior week, contributed to a record build in PADD 3.

Oversupplied fuel storages in the USGC also translated into the lowest gasoline and diesel retail prices reported nationwide last week.

Gasoline produced in PADD 3 declined by 5.3cts from the previous week, maintaining its position as the most affordable area for fuel in the nation and it was 42.1cts below the national average of $2.811 gallon, according to EIA data released Tuesday (12/30).

Diesel retail prices dropped by 3cts to average $3.184 gallon last week; this was about 32cts below the nationwide average of $3.50 gallon.
 

EIA: PADD 1 Gasoline, Jet Stocks Up; Distillates Fall

East Coast (PADD 1) inventories for gasoline and jet fuel increased in the week ending December 19, while distillate fuel stocks declined and crude oil inventories moved slightly lower, U.S. Energy Information Administration data released Monday (12/29) showed.

The weekly petroleum status report was published later than usual due to the Christmas holiday.

PADD 1 gasoline stocks rose by 1.1 million bbl to 53 million bbl in the reported week, compared with 56.7 million bbl in the same week last year. The build followed a smaller increase the prior week, marking the second consecutive weekly rise in East Coast gasoline inventories. Motor gasoline blending component stocks also increased, climbing to 50.8 million bbl, though remaining below the 54 million bbl held a year earlier.

Despite the recent builds, gasoline inventories across the East Coast remain below levels from a year earlier, reflecting a comparatively tighter supply structure. That dynamic has kept prices supported even as retail values eased modestly, with East Coast (PADD 1) gasoline averaging $2.82 gallon in the week ended Dec. 22, down by 2.2cts on the week and standing 12.5cts below the same period last year.

Regional distillate fuel oil inventories declined by 1.9 million bbl to 28.5 million bbl, falling well below the 34.3 million bbl reported in the same week last year. The region held 27.3 million bbl of ultra-low sulfur diesel, compared with 32.9 million bbl a year earlier. The sizable draw extends the East Coast’s tightening distillate balance as colder temperatures began to lift heating oil demand across the region. That tightening backdrop has helped keep diesel prices elevated despite a modest weekly decline, with East Coast (PADD 1) retail diesel averaging $3.674 gallon in the week ended Dec. 22, down by 2.9cts on the week but still 10.6cts higher than the same period last year.

Jet fuel imports in PADD 1 rose by 500,000 bpd to 18,000 bpd, standing above the year-ago level of 14,000 bpd.

Jet fuel inventories in PADD 1 increased by 500,000 bbl to 9.6 million bbl, compared with 10.3 million bbl in the same week last year. While the build provided some near-term relief, East Coast jet fuel stocks remain below levels from a year earlier following earlier seasonal draws.

Crude oil inventories in PADD 1 edged lower by 400,000 bbl to 7.4 million bbl and remained below the 8.1 million bbl reported in the same week last year.

PADD 1 crude imports rose by 73,000 bpd to 654,000 bpd versus the year-ago level of 862,000 bpd.
 

EIA: PADD 5 Gasoline Stocks Slip for Second Straight Week

U.S. West Coast (PADD 5) gasoline inventories fell for the second consecutive week in the week ending December 19, while distillate and jet fuel stocks climbed and crude oil inventories edged lower, according to data released late Monday by the Energy Information Administration.

The EIA’s weekly petroleum data publication was delayed Monday (12/29) due to the Christmas holiday. PADD 5 gasoline stocks fell by 100,000 bbl to 29.9 million bbl in the reference week. Inventories stood 1.7 million bbl higher than the same week last year, EIA data showed. Gasoline imports into the region fell sharply, declining by 140,000 bpd to 68,000 bpd on the week, but remained above the 2,000 bpd recorded during the same period in 2024.

Distillate fuel inventories rose by 400,000 bbl to 11.9 million bbl in the respective week. Stocks stood 200,000 bbl lower than the same week the previous year. Distillate imports increased by 10,000 bpd to 17,000 bpd, exceeding both the 7,000 bpd reported last week and the 3,000 bpd seen a year earlier.

Crude oil inventories in PADD 5 dropped by 300,000 bbl to 47.3 million bbl in the reference week. Stocks remained 1.7 million bbl lower than the 49 million bbl recorded during the same week last year. Crude oil imports into the West Coast fell by 288,000 bpd to 1.071 million bpd last week and were below the 1.197 million bpd recorded during the same period last year.

Jet fuel inventories climbed by 700,000 bbl to 12.1 million bbl in the week ending December 19, which is 800,000 bbl higher than the same period in 2024. Jet fuel imports rose by 23,000 bpd to 170,000 bpd on the week, well above both last week’s 147,000 bpd and the 37,000 bpd reported a year ago.

On the retail side, West Coast gasoline prices fell in the week ending December 22, tracking broader national declines. The EIA reported PADD 5 gasoline prices slid by 8.3cts to $3.768 gallon, standing 0.7cts lower than the same week last year. Prices excluding California slipped by 7.9cts to $3.422 gallon and were 0.5cts lower than in 2024, while the national average for regular gasoline declined by 5.4cts to $2.841 gallon.