MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for February 2nd:

Updated at 5:00 PM ET 

HEADLINES:

— BLS: U.S. January Jobs Report Delayed by Government Shutdown

— PNW Sub-Octane Regular Basis Jumps 9cts on Firm Demand

— EIA: U.S. Gas Use Down in 4 Regions Amid Power Price Jump

— ISM: U.S. Manufacturing Expanded in Jan, PMI at 52.6

— Hess Midstream Q4 2025 Net Income Dips on Winter Impact

— Jet Fuel Basis Surges 13cts in NYH, Dips 8cts in US Gulf

NEWS:

BLS: U.S. January Jobs Report Delayed by Government Shutdown

The U.S. Bureau of Labor Statistics (BLS) announced Monday (2/2) that a partial federal government shutdown has prevented it from updating its website, potentially impacting the release of employment data that includes the January Nonfarm Payrolls  (NFP) report due this Friday (2/6).

The partial shutdown, triggered by a Congressional funding lapse, comes after a record-setting 43-day federal government closure from October to mid-November last year.

“This website is currently not being updated due to the suspension of Federal government services,” BLS said on its static website.

“The last update to the site was Monday, February 2, 2026. Updates to the site will start again when the Federal government resumes operations.”

The BLS did not set a new schedule for the NFP report. The agency also publishes the weekly U.S. unemployment indicator on Thursdays.

PNW Sub-Octane Regular Basis Jumps 9cts on Firm Demand

Basis of February Pacific Northwest sub-octane regular surged 9cts on Monday (2/2) to a 5.5cts premium over March NYMEX RBOB futures, driven by firm demand due to limited supplies.
The basis had been pegged at a 3.5cts discount to March NYMEX RBOB futures contract in the previous trading session, marking its largest one-day jump since late December. 

Early Monday, bids for PNW sub-octane regular were heard talked  at a 5cts premium to the same benchmark, reflecting a notable increase in buying interest across the region caused by supply tightness. 

Refining utilization in the West Coast (PADD 5) dropped to 81.7% in the week ending January 23 from 82.2% the prior week, according to most recent data from Energy Information Administration. 

EIA: U.S. Gas Use Down in 4 Regions Amid Power Price Jump

Demand for natural gas-fired power fell in at least four U.S. regions last year compared with 2024 while average wholesale day-ahead electricity prices surged, the Energy Information Administration said in an analysis published Monday (2/2).

Higher natural gas fuel costs led the Mid-Atlantic, Midwest, and Texas to favor cheaper coal and rapidly expanding solar generation. The Northwest also saw declines in gas usage, though this was driven by a milder winter and slightly improved hydropower availability.

New England prices jumped by $29 per megawatthour, the nation’s largest increase, while Texas and the Mid-Atlantic also saw significant wholesale spikes. Average wholesale day-ahead electricity prices represent the market cost for power delivered the following day, typically setting the marginal price for the entire grid.

In a separate analysis, EIA said coal-fired electricity generation surged during January’s Winter Storm Fern as grid operators looked at fuel sources beyond natural gas to maintain supply. Coal’s share of power generation across the 48 Lower U.S. states rose to 21% during the week ended Jan. 25, up from the prior week’s 17%.

ISM: U.S. Manufacturing Expanded in Jan, PMI at 52.6

A key U.S. purchasing managers index released on Monday (2/2) showed that manufacturing activity expanded last month for the first time in eleven months.

The Manufacturing Purchasing Managers Index of the Institute for Supply Management stood at 52.6 in January, up from 47.9 recorded in December, marking the highest reading since August 2022.

The increase followed four months of decline. It was also the first time since February 2025 that the reading was above the 50-point mark that separates the positive and negative constituencies for the index.

This is not the first time ISM’s manufacturing PMI broke out of a prolonged period of contraction. The year-long sub-50 spell followed expansions in January and February of 2025, which were preceded by 26 straight months of contraction.

The rise in U.S. manufacturing activity was attributed, in part, to growth in new orders and production.

The New Orders Index flipped into expansion territory after five months of contraction, jumping 9.7 points to 57.1.

“In January, U.S. manufacturing activity returned to expansion territory, with improvements in all five subindexes that make up the PMI (New Orders, Production, Employment, Supplier Deliveries, and Inventories), though the Employment and Inventories indexes still remain in contraction,” said Susan Spence, chair of the ISM Manufacturing Business Survey Committee.

Nine manufacturing industries reported growth in January. Petroleum and coal products were among the eight manufacturing industries surveyed reporting contraction.

In January, the production index rose 5.2 points to 55.9 points to 51, and the backlog of orders index rose 5.8 points to 51.6, the highest since August 2022.

The U.S. dollar index moved higher following the release of the data and at 97.4 was up 0.541 points on the day.

Hess Midstream Q4 2025 Net Income Dips on Winter Impact

Hess Midstream reported on Monday (2/2) a net income of $168 million for the fourth quarter of 2025, down from both the third quarter and year ago, as winter weather negatively impacted its operations.

• Net income was $175.5 million for the third quarter, and $172.1 million for the fourth quarter of 2024.
• Throughput volumes dropped 4% for oil terminaling and 1% for gas processing during the quarter in review from production declines caused by storms.
• The company placed a new compressor station into service in January, adding 50 million cubic feet per day of capacity to support future Bakken production growth.

Jet Fuel Basis Surges 13cts in NYH, Dips 8cts in US Gulf

Jet fuel basis in the New York Harbor spot market strengthened 13cts on Monday (2/2) to a 4cts premium to March ULSD futures on the New York Mercantile Exchange (NYMEX) on higher offers driven by supply tightness.

In contrast, basis of jet fuel in the US Gulf Coast market dipped by 8.25cts to a 16.25cts discount to front-month NYMEX ULSD futures compared to the previous trading session due to ample supplies and weak demand.

Jet fuel inventories on the East Coast fell by 500,000 bbl to 8.6 million bbl in the week ended January 23, and were 2 million bbl lower year-over-year, according to most recent Energy Information Administration data. Meanwhile, PADD 3 jet fuel stocks jumped 100,000 bbl to 14.4 million bbl during the reference week, but were 1.5 million bbl lower compared to the same week of last year, EIA reported.