MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for March 16th:

Updated at 5:00 PM ET 

HEADLINES:

— API: Crude Stocks Rise 3rd Straight Week, Up 6.556M Bbl

— NYH, Houston Jet Fuel Basis Narrow as ULSD Futures Rally

— LA Jet Fuel Basis Lifts by 11cts

— Group 3 V-Grade Down 5cts as Volatility Persists

— EIA: U.S. Diesel Prices Rise Further, Up 21.2cts on Week

— EIA: U.S. Retail Gasoline Average Climbs 21.8cts on Week

— U.S. Rack ULSD Falls 19.9cts as Volatility Persists

— SEC to Propose Making Quarterly Earnings Reports Optional

NEWS:

API: Crude Stocks Rise 3rd Straight Week, Up 6.556M Bbl

The American Petroleum Institute (API) has cited a third consecutive weekly build in commercial crude oil stocks in its reading for the week ended March 13, energy market participants who had seen the data told DTN on Tuesday (3/17).

The API reported that commercial crude oil stocks rose by 6.556 million bbl for the week in review, adding to back-to-back builds of 5.6 million bbl and 11.4 million bbl over two prior weeks.

No updates were immediately available on weekly crude stocks at the Cushing, Oklahoma delivery point for NYMEX WTI futures, or balances for gasoline and distillates that the API also reports on.

In its last report for the week ended March 6, the API said Cushing crude stocks climbed by 1.5 million bbl, adding to a prior build of 1.79 million bbl.

Gasoline balances declined by 3.3 million bbl, extending the previous weekly drop of 1.53 million bbl.

Distillates supply rose by 516,000 bbl after a prior drop of 2.77 million bbl.

NYH, Houston Jet Fuel Basis Narrow as ULSD Futures Rally

The basis for jet fuel in the New York Harbor and Houston spot markets fell Tuesday (3/17) as the underlying April ULSD futures contract rallied 5% on the back of the diesel supply tightness driven by the Middle East conflict.

Basis for jet fuel on the Buckeye Pipeline in the New York Harbor dropped by 15cts, narrowing to near parity with the April ULSD futures contract on the New York Mercantile Exchange (NYMEX).

Meanwhile, at the Houston origin of the Colonial Pipeline, jet fuel was heard traded at a 1.50cts premium over the front-month NYMEX, or 10cts lower than the level it was seen at in the previous session.  

U.S. Energy Information Administration data showed that jet fuel stocks in the Gulf Coast dropped by 800,000 bbl to 12.8 million during the week ended March 6. Inventories were also 2.1 million bbl lower than volumes reported in the same period a year earlier.

LA Jet Fuel Basis Lifts by 11cts

Los Angeles jet fuel basis gained 11cts of its premium on Tuesday (3/17) on lower demand, bringing the products current basis to 25cts above April ULSD futures, after a trade was confirmed at that level.

Jet fuel inventories on the West Coast were unchanged at 11.1 million bbl on a weekly basis and were slightly lower year-over-year. Imports for jet fuel in the region were 44,000 bpd in the respective week compared to 104,000 bpd last week, still lower by 47,000 bpd in the same week of the prior year.

Refinery utilization in PADD 5 rose to 83.8% last week compared to 79.6% the previous week, EIA data showed.

Group 3 V-Grade Down 5cts as Volatility Persists

Midwest gasoline basis in the Group 3 market weakened Tuesday (3/17), though declines were more measured than expected as broader energy markets remained highly volatile, driven by continued swings in crude and refined product futures.

Group 3 V-grade suboctane gasoline was assessed at a 60.50cts discount to April NYMEX RBOB futures, down 5cts from the previous session, while conventional unleaded gasoline traded at a 27.5cts discount, also weakening by 5cts, according to DTN data.

In other Midwest hubs, Chicago CBOB was assessed at a 40cts discount, while barrels moving through the Buckeye Complex and Wolverine pipeline were both assessed at a 31cts discount, with all three locations declining by 3cts on the session.

“Basis adjustments have become more difficult in recent weeks given the volatility in futures markets,” a source familiar with the Midwest gasoline market said. “There’s still a high level of uncertainty around replacement costs as flat price continues to move sharply.”

In the futures market, the April RBOB gasoline contract settled at $3.1234 gallon, up 12.39cts on the session, reflecting continued volatility across the energy complex.

Midwest gasoline inventories declined by 1.1 million bbl to 60 million bbl in the week ended March 6, the lowest level since late January, according to EIA data released Wednesday, with some rack sellers reporting limited product availability.

At the same time, PADD 2 rack prices fell sharply on the day, dropping 29.17cts to $3.3710 gallon, highlighting the continued disconnect between tightening prompt supply signals and futures-driven price movement.

EIA: U.S. Diesel Prices Rise Further, Up 21.2cts on Week

The U.S. Energy Information Administration reported Tuesday (3/17) that retail diesel prices rose for a sixth consecutive week, climbing 21.2 cents during the week ended March 16 to average $5.071 gallon, while increasing $1.5222 on the year.

Diesel prices have risen a cumulative $1.383 gallon since the week ended February 9. Weather related production disruptions in oil and refinery maintenance initially provided upside to the market, before global supply upheaval from the Iran war triggered a sustained price rally across energy products.

East Coast diesel prices rose 20.4cts to $5.105 gallon. For the year, this PADD 1 region showed a $1.426 gallon increase.

New England diesel prices rose 26.6cts to $5.236 gallon. This PADD 1A region climbed $1.249 for the year.

The Central Atlantic witnessed a 25.6cts rise on the week. Prices in the PADD 1B region averaged $5.196 gallon, climbing $1.327 gallon on the year.

Diesel prices in the Lower Atlantic averaged $5.057 gallon. This PADD 1C region reflects a 17.7cts increase on the week and $1.48 gallon rise on the year.

In the Midwest, diesel prices rose 16.9cts on the week. The PADD 2 region averaged $4.97 gallon, which was $1.507 gallon higher than the year-ago level.

In the Gulf Coast, diesel gained 20.8cts on the week to $4.835 gallon. For the year, this PADD 3 region was up $1.59 gallon.

Rocky Mountain diesel saw a 39.9cts increase on the week to $4.796 gallon. For the year, the PADD 4 region witnessed a surge of $1.42 gallon.

West Coast diesel prices rose 30cts on the week to average $5.856 gallon. For the year, the PADD 5 region advanced by $1.653 gallon.

West Coast less California diesel climbed 27.2cts on a weekly basis to $5.36 gallon. This represented a $1.645 gallon rise on the year.

California diesel itself rose 33.2cts on the week to $6.428 gallon. Prices in the state remain the highest in the nation, sitting $1.662 gallon above last year’s level.

EIA: U.S. Retail Gasoline Average Climbs 21.8cts on Week

The national average for retail regular gasoline increased in the week ended March 16, with gains across all major regions, data from the U.S. Energy Information Administration showed Tuesday (3/17).
The U.S. average for regular gasoline climbed by 21.8cts to $3.720 gallon, standing 66.2cts higher compared to the same week last year, the EIA’s weekly update on fuel pricing showed.
East Coast (PADD 1) gasoline increased by 21.4cts to $3.577 gallon in the reference week, while standing 62.8cts higher than the same period last year.
Within the East Coast, New England (PADD 1A) climbed by 18.6cts to $3.538 gallon week-over-week, standing 61.4cts higher than the same week of 2025.
Central Atlantic (PADD 1B) gasoline prices grew by 19.3cts to $3.612 gallon last week, 55.8cts higher than the same week of last year.
Lower Atlantic (PADD 1C) gasoline prices increased by 23.6cts to $3.566 gallon in the profiled week, 67.7cts higher than the previous year.
Midwest (PADD 2) prices expanded by 11.7cts to $3.393 gallon in the week ending March 16 , 49.9cts higher compared to the same period of last year.
Prices for the same product at the Gulf Coast (PADD 3) climbed by 30.3cts to $3.412 gallon, 78.3cts above last year’s level.
Rocky Mountain (PADD 4) gasoline rose by 37.9cts to $3.637 gallon, 63.9cts greater than the previous year.
West Coast (PADD 5) gasoline prices strengthened by 29.7cts to $4.987 gallon, 92.6cts above the corresponding week of last year.
Gasoline prices at West Coast less California rose by 30.6cts to $4.521 gallon, and were 86.6cts higher than the year prior.

U.S. Rack ULSD Falls 19.9cts as Volatility Persists

Wholesale rack prices for ultra-low sulfur diesel (ULSD) across the United States plummeted Tuesday (3/17), highlighting continued volatility in refined product markets, as physical prices reversed part of Monday’s rally despite ongoing geopolitical tensions in the Middle East.

Nationwide ultra-low sulfur diesel (ULSD) rack prices averaged $3.7713 gallon, falling 19.87cts from Monday’s $3.9700 gallon, according to DTN data. The decline follows Monday’s sharp increase, with rack markets easing even as broader energy markets remained supported by geopolitical risk linked to developments surrounding the Strait of Hormuz.

Conventional unleaded gasoline rack prices averaged $3.0562 gallon, down 5.32cts from Monday’s $3.1094 gallon.

ULSD racks declined across all regions. The steepest drop occurred in PADD 2, where prices fell 29.17cts to $3.3710 gallon. PADD 1 decreased 17.10cts to $3.9765 gallon, while PADD 5 dropped 17.14cts to $4.4219 gallon. PADD 3 declined 16.94cts to $3.7951 gallon, and PADD 4 posted the smallest decrease, down 9.77cts to $3.8177 gallon.

Relative to the national ULSD rack average of $3.7713 gallon, PADD 5 held the strongest premium at 65.06cts above the U.S. benchmark, followed by PADD 1 at 20.52cts above the national average. PADD 3 and PADD 4 also traded at slight premiums, while PADD 2 remained at the deepest discount, 40.03cts below the national average.

On gasoline racks, most regions moved lower, though gains were seen in select markets. PADD 3 declined 3.88cts to $2.7560 gallon, while PADD 1 fell 3.18cts to $2.7777 gallon. PADD 4 decreased 3.07cts to $2.9455 gallon. In contrast, PADD 5 increased 1.76cts to $3.7514 gallon, and PADD 2 posted a modest increase of 0.83cts to $2.5985 gallon.

Compared with the national gasoline average of $3.0562 gallon, PADD 5 remained the only region trading at a premium, at 69.52cts above the U.S. benchmark. All other regions held discounts, led by PADD 2 at 45.77cts below the national average, followed by PADD 3 at 30.02cts, PADD 1 at 27.85cts, and PADD 4 at 11.07cts below the benchmark.

In the futures market, energy contracts moved higher on Tuesday morning as geopolitical risk continued to underpin prices. The front-month NYMEX ULSD April contract rose 18.02cts to $4.0177 gallon, while NYMEX RBOB gasoline for April increased 8.04cts to $3.0807 gallon. Meanwhile, WTI crude traded at $95.33 barrel, up $1.83, as market participants kept a close watch on evolving risks to crude and product flows through the Strait of Hormuz.

SEC to Propose Making Quarterly Earnings Reports Optional

The U.S. Securities and Exchange Commission (SEC) has prepared a proposal to scrap current quarterly earnings reports for publicly-traded U.S. companies – requiring them to report at half-year intervals instead, according to media reports.

The proposal could be published as soon as next month. The SEC will vote on it after publication and public comments are gathered, which typically last over a period of 30 days, the reports added.

Last September, U.S. President Donald Trump suggested that the SEC should eliminate the quarterly reporting requirement and adopt a semiannual option. He said the 90-day window for companies to submit their financials after each quarter leads to corporate shortsightedness and unnecessary administrative costs.

DTN could not immediately verify the matter with the SEC.