MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for March 18th:

Updated at 5:00 PM ET 

HEADLINES:

— EIA: U.S. Imports of Venezuelan Crude Reach 15-Mo High

— Fed Holds Rates Steady as Iran War Stirs Inflation Risks

— 60-Day Waiver on U.S. Jones Act for Shipping Amid Iran War

— EIA: PADD 3 Gasoline Inventories Up on Week

— EIA: PADD 2 Gasoline Stocks Reach 9-Week Low

— EIA: U.S. Crude Stocks Hit Nearly 2-Year High

— EIA: PADD 5 Gasoline Stocks Fall Fifth Week

— EIA: PADD 1 Gasoline Stocks Fall First Time in 3 Weeks

— EIA: Propane/Propylene Inventory Climbs 67.2% Y-o-Y

— EIA: U.S. Ethanol Inventories, Production Dip on Week

— U.S. Rack ULSD Rebounds 15.47cts on Iran Supply Risk

— PBF Torrance Refinery Reports Flaring

— BLS: US PPI Rises 0.7% M-o-M in February

NEWS:

EIA: U.S. Imports of Venezuelan Crude Reach 15-Mo High

U.S. crude oil imports from Venezuela reached a 15-month high on the week ended March 13, while imports from Mexico hit a more than two-year peak during the same period, the Energy Information Administration reported on Wednesday (3/18).

Imports of Venezuelan crude continued their upward trend — since the United States took control of the South American country’s oil production in January — rising by 191,000 bpd to 423,000 bpd in the reference week. This was also higher than the 319,000 bpd reported in the same week last year.

U.S. crude imports from Mexico also rose sharply, by 500,000 bpd to 640,000 bpd last week. This represents more than three times the volume imported in the same week of 2025, when it was 195,000 bpd, according to EIA data.

Imports of heavy sour Ecuadorean grades rose from zero bpd reported on a weekly and yearly basis to 271,000 bpd last week. Meanwhile, imports of heavy crude from Colombia increased almost three times week-over-week by climbing 143,000 bpd to 219,000 bpd. However, it was below 349,000 bpd imported year-over-year.  

Canada, the main U.S. source of imports, saw volumes decline by 422,000 bpd to 3.8 million bpd during the reference week, but exceeding 3.1 million bpd recorded in the same period last year.

Despite the U.S.-Israel-Iran war entering its third week and disrupting global supply, imports from Saudi Arabia remained elevated, jumping by 186,000 bpd to 793,000 bpd in the week ended March 13, more than four times the 218,000 bpd recorded year-over-year.

In contrast, Iraq posted a sharp decline, with exports to the U.S. dropping by 196,000 bpd to 113,000 bpd in the profiled week. This was below the 202,000 bpd reported in the same week of last week.

Libya virtually disappeared from U.S. import ledgers, dropping to zero bpd on the week ended March 13, compared to 2,000 bpd reported the previous week and unchanged from the same week of a year earlier.

Fed Holds Rates Steady as Iran War Stirs Inflation Risks

The Federal Reserve announced Wednesday (1/28) that benchmark U.S. interest rates will stay in a 3.5%–3.75% range as it noted higher inflationary pressures from a 40% spike in oil prices caused by the Iran war.

“The Committee decided to maintain the target range for the federal funds rate at 3‑1/2 to 3‑3/4 percent,” the Fed’s policy-making Federal Open Market Committee said in a statement, adding that “inflation remains somewhat elevated.”

It was the second time the Fed had left rates unchanged this year, after a similar decision on January 20. The latest decision came amid growing concerns about inflation, with U.S. pump prices for gasoline have risen for four straight weeks from global supply outages triggered by latest conflict In the Middle East.

While the U.S. Consumer Price index showed a flat year-on-year reading of 2.4% in February, Goldman Sachs has cautioned that a sustained 10% increase in oil prices risks boosting the headline inflation rate by 0.2 percentage points.

Market moves at 2:05 p.m. ET:

• NYMEX WTI for April delivery was down $0.75 at $95.49 bbl. The ICE Brent contract for April, in contrast, rose $2.91, or 2.8%, to $106.33 bbl. Crude and other energy prices have rallied with few stops since the U.S.-Israel attacks on Iran that began on February 27 turned into a wider Middle East conflict. Average retail prices for regular gasoline rose by 21.8cts to $3.720 gallon last week, standing 66.2cts higher compared to the same week last year, the U.S. Energy Information Administration reported.
• The Dollar Index was up 0.24 points to 99.57 against a basket of currencies. Notwithstanding Wednesday’s moves, the dollar has risen by 2.3% since the end of February as the U.S. currency pivoted into safe haven status with the war.

60-Day Waiver on U.S. Jones Act for Shipping Amid Iran War

U.S. President Donald Trump has suspended for a 60-day period ​the Jones Act to effectively allow international tankers to transport energy and agricultural products between U.S. ports amid the global shipping congestion caused by the Iran war, the White House announced on Wednesday (3/18).

The suspension of the shipping legislation will help “mitigate the short-term disruptions to the oil market as the U.S. military continues meeting the objectives of Operation Epic Fury”, White House Press Secretary Karoline Leavitt said in a post on X, referring to the Iran war by its operation name.

The Jones Act serves as the foundation of U.S. maritime policy, requiring that domestic cargo be transported on American-built, owned, and crewed vessels. This 1920 law provides a protectionist framework intended to maintain a resilient merchant marine fleet for national security and economic stability.

Escalating conflict between the U.S., Israel, and Iran has effectively shuttered the Strait of Hormuz, causing maritime charter rates to spike and idling numerous vessels. The resulting supply chain gaps have disrupted global energy flows, leaving even U.S.-registered ships stranded as regional tensions intensify.

EIA: PADD 3 Gasoline Inventories Up on Week

U.S. Gulf Coast gasoline and distillate stocks showed mixed movements last week while jet fuel inventories increased in the week ending March 13, Energy Information Administration data showed on Wednesday (3/18).
Motor gasoline inventories in the PADD 3 region rose on the week, climbing by 100,000 bbl to 85.2 million bbl during the week ended March 13, after edging higher the prior week, the EIA’s Weekly Petroleum Status Report showed. Year-on-year, gasoline stocks in the region were higher by 5.4 million bbl.
PADD 3 gasoline imports climbed by 19,000 bpd to 26,000 bpd last week and were 28,000 bpd lower compared with the same week of last year.
Distillate fuel oil inventories in the same region fell by 2.3 million bbl to 44.1 million bbl during the week profiled and were 7 million bbl higher than the volume reported in the same period of last year, EIA data showed.
Jet fuel stocks in the Gulf Coast rose by 1.9 million bbl to 14.7 million bbl but were 700,000 bbl higher from a year ago.
As a net exporter of distillates and jet fuel, PADD 3 does not report imports of those products.
Refining utilization on the Gulf Coast grew to 94.7% in the week ending March 13 from 91.3% the prior week.
Crude inventories in PADD 3 increased by 2.8 million bbl to 260.2 million bbl on the week and were 7.9 million bbl higher year-on-year. Crude imports surged by 1.176 million bpd to 2.387 million bpd on the week and were 1.114 million bpd higher compared to the same week last year.

EIA: PADD 2 Gasoline Stocks Reach 9-Week Low

Midwest (PADD 2) gasoline inventories declined last week during the week ended March 13, falling to the lowest level in nine weeks, while distillate stocks increased and crude oil balances rose, according to U.S. Energy Information Administration data released Wednesday.

Motor gasoline inventories in PADD 2 fell by 1.2 million bbl to 58.8 million bbl on the week, EIA data showed, marking the lowest level since the week ended January 9, when inventories stood at 56.5 million bbl. Compared with the corresponding week last year, gasoline inventories were also 1.2 million bbl lower than the 60 million bbl recorded during the same period. Total motor gasoline imports averaged 9,000 bpd, up 1,000 bpd from the prior week and in line with the same week of the prior year. 

Distillate fuel oil inventories in the Midwest rose by 600,000 bbl on the week to 29.6 million bbl and were 3.5 million bbl below the level reported in the same week of the prior year. Distillate fuel oil imports were at 6,000 bpd, down 2,000 bpd from the prior week and 2,000 bpd below the level reported in the same week of the prior year.

Jet fuel inventories in PADD 2 fell by 700,000 bbl to 7.3 million bbl on the week. Stocks were 600,000 bbl below the volume recorded in the same week of the prior year. During the profiled week, PADD 2 jet fuel imports remained at zero bpd, unchanged week-over-week and year-over-year.

Crude oil inventories in PADD 2 increased by 1 million bbl to 110 million bbl during the profiled week and were 4.5 million bbl above volumes recorded in the corresponding week of the prior year. Crude oil imports into the Midwest averaged 2.944 million bpd during the reference week, compared with 3.395 million bpd the prior week and 2.499 million bpd reported in the same week of the prior year.

Refinery utilization in the Midwest decreased to 90.9% of operable capacity from 92.8% the prior week and was in line with the 90.9% recorded in the same week of the prior year, according to EIA data.

EIA: U.S. Crude Stocks Hit Nearly 2-Year High

U.S. commercial crude oil stocks extended their rise during the week ended March 13 despite a more than 40% surge in exports, Energy Information Administration (EIA) data showed Wednesday (3/18).  Gasoline and distillate inventories fell for the same week and jet fuel balances rose.

Crude stocks climbed by 6.2 million bbl to 449.3 million bbl during the reference week, the EIA Weekly Petroleum Status Report showed, extending the increase from previous week. The latest level marks the highest crude inventory since the week ended June 7, 2024, when stocks stood at 459.7 million bbl, marking a nearly two-year high. Compared with the same week last year, crude stocks were up by 12.3 million bbl, or 2.8%. 

Last week’s crude stock rise was accompanied by a 1 million bbl build at the Cushing, Oklahoma delivery point for NYMEX West Texas Intermediate futures.

Distillate fuel oil inventories fell by 2.5 million bbl to 116.9 million bbl on a weekly basis while remaining 2.1 million bbl higher than in the same week last year. 

Jet fuel stocks rose by 2.4 million bbl to 43.6 million bbl and were 400,000 bbl higher than the same week previous year.

Total motor gasoline inventories fell by 5.5 million bbl to 244 million bbl last week. Compared with the same week last year, gasoline stocks were 8.9 million bbl higher. 

Blending components for gasoline tumbled by 4.1 million bbl to 231.1 million bbl, and were higher by 4.8 million bbl year-over-year. Conventional gasoline stocks reported a weekly fall of 400,000 bbl to 14.3 million bbl.

Refinery utilization rose to 91.4% last week from 90.8% of operable capacity reported the prior week, the EIA data showed.

Crude oil inputs into refineries averaged 16.23 million bpd during the week ended March 13, up from 16.17 million bpd reported a week-ago and was above the 15.66 million seen in the same week last year.

Crude oil exports surged to 4.9 million bpd in the profiled week, up 1.47 million bpd, or 43%, from the week before.

During the profiled week, crude imports averaged 7.194 million bpd, a 772,000-bpd increase from last week and higher than the 5.385 million bpd recorded in the same period of 2025.

EIA: PADD 5 Gasoline Stocks Fall Fifth Week

U.S. West Coast (PADD 5) gasoline inventories fell for the fifth consecutive week, while distillates also declined and jet fuel stocks increased in the week ended March 13, according to Energy Information Administration data released Wednesday (3/18).
Motor gasoline inventories in the West Coast region fell by 900,000 bbl to 27.4 million bbl in the reference week, EIA data showed. Stocks were also down by 1.5 million bbl compared to the same week last year. Gasoline imports in the region fell by 16,000 bpd to 173,000 bpd but were higher by 82,000 bpd versus the same week last year.
Distillate fuel oil stocks in PADD 5 fell by 500,000 bbl to 11.5 million bbl week-over-week. Inventories were also down by 1.1 million bbl compared to last year. Distillate imports climbed by 13,000 bpd to 33,000 bpd in the respective week and were higher by 19,000 bpd year-over-year.
In contrast, jet fuel inventories in the West Coast climbed by 500,000 bbl to 11.6 million bbl on a weekly basis and were up by 1.2 million bbl compared to the same week last year. Jet fuel imports increased by 84,000 bpd to 128,000 bpd and were higher by 86,000 bpd year-over-year.
Crude oil inventories in PADD 5 grew by 1.3 million bbl to 45.5 million bbl  during the reference week but were down by 500,000 bbl compared to last year. Crude imports dropped by 6,000 bpd to 950,000 bpd the previous week and were lower by 47,000 bpd versus the same week the previous year.

EIA: PADD 1 Gasoline Stocks Fall First Time in 3 Weeks

East Coast (PADD 1) gasoline inventories fell for the first time in three weeks in the week ended March 13, while distillates and jet fuel stocks increased, according to data released by the U.S. Energy Information Administration on Wednesday (3/18).

Motor gasoline stocks in PADD 1 fell by 3.5 million bbl to 63.4 million bbl after rising the previous two weeks and were above 62.9 million bbl seen in the same week of last year. Gasoline imports on the East Coast declined by 99,000 bpd to 239,000 bpd and were below the 503,000 bpd imported year-over-year.

In the opposite direction, distillate fuel oil inventories in PADD 1 rose by 300,000 bbl to 27.6 million bbl in the week ending March 13 and were below the 28.3 million bbl reported in the same period of last year. Distillate fuel oil imports averaged 167,000 bpd last week, up 23,000 bpd from the level recorded the previous week, but 59,000 bpd below the volume seen in the same week last year.

Jet fuel inventories in PADD 1 increased for the first time in three weeks, rising by 700,000 bbl to 9.1 million bbl in the week ending March 13 and were below the 10 million bbl recorded in the same period of last year. Imports of the same product in the region increased by 2,000 bpd to 22,000 bpd on a weekly basis but were below 113,000 bpd imported the prior year.

Refinery utilization in the profiled week decreased to 87.8% from 92.3% the prior week, the EIA data showed.

Crude oil inventories on the East Coast rose by 400,000 bbl to 8.4 million bbl week-over-week and were unchanged from the same period of previous year. Crude oil imports increased by 162,000 bpd to 374,000 bpd and were below the 413,000 bpd recorded in the same week last year.

EIA: Propane/Propylene Inventory Climbs 67.2% Y-o-Y

The Energy Information Administration reported on Wednesday (3/18) total domestic propane/propylene stocks of 72.485 million bbl in the week ending March 13, up 810,000 bbl week-on-week and 29.136 million bbl, or 67.2% higher than in the same week last year.
Data show propane/propylene exports last week averaged 1.879 million bpd, down 156,000 bpd week-on-week and 315,000 bpd, or 14.4%, lower than in the same week last year.
Implied demand for propane/propylene in the United States averaged 1.048 million bpd, down 154,000 bpd week-on-week and 117,000 bpd, or 12.6% higher than in the same week last year.
EIA reports domestic propane/propylene production averaged 2.924 million bpd, up 62,000 bpd week-on-week and 209,000 bpd, or 7.7% higher than in the same week last year.
East Coast PADD 1 inventories ended the week at 2.879 million bbl, up 197,000 bbl week-on-week and 437,000 bbl, or 13.2% lower than in the same week last year.
Midwest PADD 2 inventories ended the week at 14.011 million bbl, up 259,000 bbl week-on-week and 5.302 million bbl, or 60.9% higher than in the same week last year.
Gulf Coast PADD 3 inventories ended the week at 52.41 million bbl, up 635,000 bbl week-on-week and 23.795 million bbl, or 83.2% 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 3.185 million bbl, down 281,000 bbl week-on-week and 475,000 bbl, or 17.5% higher than in the same week last year.

EIA: U.S. Ethanol Inventories, Production Dip on Week

The Energy Information Administration reported on Wednesday (3/18) that overall ethanol production in the United States averaged 1.093 million bpd in the week ending March 13, down 33,000 bpd week-on-week and 40,000 bpd, or 3.8% higher than in the same week last year. Four-week average output at 1.107 million bpd was 22,000 bpd above the same four weeks last year.
Midwest ethanol production averaged 1.035 million bpd, down 43,000 bpd week-on-week and 33,000 bpd, or 3.3% higher than in the same week last year. Four-week average output at 1.054 million bpd was 20,000 bpd above the same four weeks last year.
Ethanol blending activity in the U.S. averaged 876,000 bpd, down 25,000 bpd week-on-week and 2,000 bpd, or 0.2% lower than in the same week last year. Four-week average blending demand at 877,000 bpd was in line with the pace recorded in the same four weeks last year.
Blender inputs at the East Coast were down 12,000 bpd on the week while inputs in the Midwest were down 14,000 bpd, up 4,000 bpd on the Gulf Coast and down 2,000 bpd on the West Coast.
Domestic ethanol inventories ended the week at 26.407 million bbl, up 827,000 bbl week-on-week and 943,000 bbl, or 3.4% lower than in the same week last year.
East Coast PADD 1 inventories ended the week at 8.005 million bbl, down 47,000 bbl week-on-week and 61,000 bbl, or 0.8% lower than in the same week last year.
Midwest PADD 2 inventories ended the week at 10.992 million bbl, up 854,000 bbl week-on-week and 635,000 bbl, or 5.5% lower than in the same week last year.
Gulf Coast PADD 3 inventories ended the week at 4.272 million bbl, down 70,000 bbl week-on-week and 530,000 bbl, or 11% lower than in the same week last year.
West Coast PADD 5 inventories ended the week at 2.78 million bbl, up 76,000 bbl week-on-week and 256,000 bbl, or 10.1% higher than in the same week last year.

U.S. Rack ULSD Rebounds 15.47cts on Iran Supply Risk

Wholesale rack prices for ultra-low sulfur diesel, conventional unleaded gasoline and premium grade gasoline across the United States moved higher Wednesday (3/18), with ULSD rebounding from the previous session’s sharp decline as refined product markets remained volatile.

The move higher also came as supply risks intensified after Iran reported strikes to parts of its energy infrastructure, and pledged retaliation.

Nationwide ULSD rack prices averaged $3.9260 gallon, up 15.47cts from Tuesday’s $3.7713 gallon, according to DTN data. Conventional unleaded gasoline rack prices averaged $3.1351 gallon, up 7.89cts from Tuesday’s $3.0562 gallon. Premium grade gasoline rack prices also moved higher across all regions Wednesday, led by gains in PADD 5 and PADD 1.

ULSD racks increased across all regions. The largest rise came in PADD 5, where prices climbed 17.84cts to $4.6003 gallon. PADD 1 increased 16.25cts to $4.1390 gallon, while PADD 3 rose 15.13cts to $3.9464 gallon. PADD 4 moved 14.74cts higher to $3.9651 gallon, and PADD 2 increased 14.13cts to $3.5373 gallon.

Relative to the national ULSD rack average of $3.9260 gallon, PADD 5 held the strongest premium at 67.43cts above the U.S. benchmark, followed by PADD 1 at 21.30cts above the national average. PADD 4 and PADD 3 also traded at slight premiums, while PADD 2 remained the deepest discount, at 38.87cts below the benchmark.

On conventional unleaded gasoline racks, all regions moved higher. PADD 2 posted the largest increase, rising 13.83cts to $2.7368 gallon. PADD 5 climbed 13.39cts to $3.8853 gallon, while PADD 3 increased 9.47cts to $2.8382 gallon. PADD 1 rose 9.26cts to $2.8703 gallon, and PADD 4 moved 8.41cts higher to $3.0296 gallon.

Compared with the national conventional unleaded gasoline average of $3.1351 gallon, PADD 5 remained the only region trading at a premium, at 75.02cts above the U.S. benchmark. All other regions held discounts, led by PADD 2 at 39.83cts below the national average, followed by PADD 3 at 29.69cts, PADD 1 at 26.48cts, and PADD 4 at 10.55cts below the benchmark.

Premium grade gasoline rack prices also advanced across all major regions Wednesday. PADD 5 averaged $4.2687 gallon, up 13.85cts on the day, while PADD 1 rose 9.11cts to $3.5757 gallon. PADD 3 increased 8.61cts to $3.4897 gallon, PADD 4 moved 8.26cts higher to $3.4584 gallon, and PADD 2 rose 6.99cts to $3.2500 gallon. Premiums to conventional unleaded gasoline were widest in PADD 1 at 70.54cts, followed by PADD 3 at 65.15cts, PADD 2 at 51.32cts, PADD 4 at 42.88cts and PADD 5 at 38.34cts.

In futures trading, refined products also moved higher. Front-month NYMEX ULSD was at $4.2182 gallon, up 20.24cts, while front-month RBOB gasoline rose 9.01cts to $3.2135 gallon. WTI crude traded at $98.11 barrel, up $1.90, as markets continued to react to escalating threats to regional energy infrastructure and the risk of broader disruption to Middle East supply flows.

PBF Torrance Refinery Reports Flaring

PBF Energy reported unplanned flaring at its 155,000 bpd Torrance, California refinery on Tuesday (2/17) at 10:07 a.m. PT tied to a utility power failure, according to a filing with the South Coast Air Quality Management District. The event was due to an electrical malfunction and ended at 12:46 p.m. PT.

BLS: US PPI Rises 0.7% M-o-M in February

SECAUCUS, NJ (DTN) – The Producer Price Index (PPI) for final demand advanced 0.7% in February, following a 0.5% increase in January and 0.4% in December, the U.S. Bureau of Labor Statistics (BLS) reported Wednesday (3/18).

The February increase was led by a 1.1% rise in prices for final demand goods, compared to expectations of 0.3%. The index for final demand services prices rose 0.5% month-on-month.

Year-on-year, PPI for final demand was up 3.4% in February versus 2.9% in January, and against a market consensus of 3.0%.

Core PPI for final demand, which strips out volatile food and energy components as well as trade services, rose 0.5% in February after growing 0.8% in January, and against expectations of a 0.3% increase.

Over the past 12 months, this core measure increased 3.9% on an unadjusted basis, versus the January reading of 3.6% and forecasts of 3.7%.