MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News April 8th:

Updated at 5:00 PM ET 

HEADLINES:

— EIA: U.S. Crude Imports from Canada Soar, Mideast Dips

— EIA: Renewables to Generate 27% of U.S. Power by End-2026

— EIA: PADD 2 Gasoline Hits 2026 Low; Distillate Falls

— EIA: PADD 5 Gasoline Rebounds After 7 Week Slide

— EIA: PADD 3 Distillate Stocks Hit 7-Month Low

— EIA: Propane/Propylene Stocks Climb 42.8% on Year

— EIA: PADD 1 Gasoline Stocks Hit New 2026 Low

— EIA: Crude Stocks Near 3-Year High After 7th Weekly Rise

— EIA: U.S. Ethanol Inventories Increase 9.3% Y-o-Y

— ExxonMobil: Iran War to Impact 6% of Firm’s Global Output

— U.S. Rack ULSD Rises 18.9cts; Gasoline Up 5.19cts

— Shell Expects Lower Q1 Upstream Output, Refining Climbs

— Trump: 2-Week Ceasefire With Iran to Reopen Hormuz, End War

NEWS:

EIA: U.S. Crude Imports from Canada Soar, Mideast Dips

U.S. crude oil imports from Canada, Venezuela and Brazil surged in the week ended April 4, while shipments from Colombia, Saudi Arabia, Iraq and Mexico declined in the same period, according to Energy Information Administration data reported on Wednesday (4/8).

Canadian crude imports jumped 469,000 bpd to 4.27 million bpd last week, the highest volume recorded since January 3, 2025, when it was 4.42 million, EIA data showed.

Venezuela also reported an increase, climbing by 127,000 bpd to 21,000 bpd, while Brazil edged higher by 41,000 bpd to 114,000 bpd. Libya added a modest 40,000 bpd to reach 42,000 bpd.

In contrast, heavy sour Colombian crude imports saw the steepest drop, falling 416,000 bpd to zero — a complete halt in shipments for the week of reference, followed by Nigeria and Ecuador, which also recorded zero imports after posting 84,000 and 103,000 bpd, respectively, in the prior week.

Weekly crude oil imports from the Middle East fell, driven by the disruption in the Strait of Hormuz due to the Iran war.

Oil shipments from Saudi Arabia to the U.S. dipped by 41,000 bpd to 589,000 bpd while Iraqi arrivals slipped by 20,000 bpd to 120,000 bpd. However, year-over-year imports from Saudi Arabia rose 449,000 bpd while Iraq shipments dropped 47,000 bpd over the same period.

Mexico shed 433,000 bpd, landing at just 165,000 bpd in the reference week, which was way below the 598,000 bpd reported the same period last year.

EIA: Renewables to Generate 27% of U.S. Power by End-2026

SECAUCUS, NJ (DTN) – Renewable energy is forecast to contribute roughly 27% of total U.S. electricity generation by late 2026, the U.S. Energy Information (EIA) said in its annual energy outlook published Wednesday (4/8).

Solar power is expected to lead this transition, with over 40 gigawatts of new capacity projected for installation through 2027, the EIA said.

As of April, the share of renewable energy in the U.S. power mix is approximately at between 25.7% and 26%.

The EIA said growth in solar was becoming increasingly necessary as demand from data centers and domestic manufacturing reached its highest levels in over two decades.

The expansion of renewables also comes as coal-fired generation continues its long-term decline across the national grid, the EIA said, adding that this could contribute to a slight decrease in energy-related CO2 emissions.

EIA: PADD 2 Gasoline Hits 2026 Low; Distillate Falls

Midwest (PADD 2) gasoline inventories declined in the week ended April 3, extending a downward trend, while distillate stocks also fell and crude oil inventories increased, according to U.S. Energy Information Administration data released Wednesday (4/8).

Motor gasoline inventories in PADD 2 fell by 2.3 million bbl to 56.1 million bbl on the week, EIA data showed but remained above the 56.2 million bbl recorded in the corresponding week last year. The latest level is the lowest since the week ended January 2 of this year, when inventories stood at 53 million bbl. No motor gasoline imports were recorded for the week, consistent with zero bpd in the prior week and compared to 19,000 bpd imported in the same week of the prior year.

Distillate fuel oil inventories in the Midwest declined by 600,000 bbl on the week to 28.9 million bbl and were 1.2 million bbl below the level reported in the same week of the prior year. Distillate fuel oil imports averaged 4,000 bpd, unchanged from the prior week and higher by 1,000 bpd from the level imported in the comparable week of last year.

Jet fuel inventories in PADD 2 declined by 400,000 bbl to 7.6 million bbl on the week and were 200,000 bbl above the level 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. The steady inventory level comes as Midwest jet fuel markets continue to face regional supply shifts, with stronger Gulf Coast (PADD 3) demand maintaining a pull on Midwest barrels.

Crude oil inventories in PADD 2 increased by 600,000 bbl to 114.6 million bbl during the reference week and were 5.8 million bbl above volumes recorded in the corresponding week of the prior year.

Crude oil imports into the Midwest averaged 3.094 million bpd during the reference week, compared with 2.828 million bpd the prior week and 2.909 million bpd reported in the same week of the prior year.

Refinery utilization in the Midwest rose to 88.6% of operable capacity from 86.7% the prior week and was above the 84.3% recorded in the same week of the prior year, according to EIA data.

EIA: PADD 5 Gasoline Rebounds After 7 Week Slide

U.S. West Coast gasoline and distillate stocks increased last week while jet fuel inventories also climbed in the week ending April 3, Energy Information Administration data showed Wednesday (4/8).
Motor gasoline inventories in the PADD 5 region rebounded after a seven week decline, grew by 600,000 bbl to 28.1 million bbl during the reference week, after rising the prior week, the EIA’s Weekly Petroleum Status Report showed. Year on year, gasoline stocks in the region were higher by 900,000 bbl. PADD 5 gasoline imports also grew by 55,000 bpd to 372,000 bpd, that’s 131,000 bpd higher compared to the same week of last year.
Distillate fuel oil inventories in the same region climbed by 400,000 bbl to 11.3 million bbl during the week profiled and were 100,000 bbl lower than the volume reported in the same period of last year, EIA data showed. Distillate imports in PADD 5 spiked by 33,000 bpd to 34,000 bpd in the reference week and were 32,000 bpd higher compared with the same week of last year.
Jet fuel stocks on the West Coast increased by 400,000 bbl to 11.4 million bbl but were 900,000 bbl higher from a year ago. Jet fuel imports in PADD 5 dropped by 5,000 bpd to 104,000 bpd last week but were 46,000 bpd higher compared with the same week of last year.
Crude oil inventories in PADD 5 declined by 300,000 bbl to 45.2 million bbl during the respective week and were 1.6 million bbl lower compared to the same period of last year. Crude imports in PADD 5 climbed by 70,000 bpd to 1.129 million bpd on the week and were 119,000 bpd lower year-on-year.

EIA: PADD 3 Distillate Stocks Hit 7-Month Low

U.S. Gulf Coast (PADD 3) distillate fuel oil inventories fell to a seven-month low in the week ended April 3, while gasoline stocks increased and jet fuel inventories declined, according to data released by the U.S. Energy Information Administration on Wednesday (4/8).

Distillate fuel oil inventories in PADD 3 decreased by 3 million bbl to 42 million bbl in the week ending April 3 and were above the 39.7 million bbl recorded in the same period last year. The latest level is the lowest since the week ended August 22, 2025, when inventories stood at 42.7 million bbl.

Jet fuel inventories in PADD 3 fell by 100,000 bbl to 14.1 million bbl during the reference week and were above the 12.8 million bbl reported in the same week last year. The latest level is the lowest since the week ended March 6, when inventories were at 12.8 million bbl. As a net exporter of distillates and jet fuel, PADD 3 does not report imports of those products.

Motor gasoline inventories in PADD 3 rose by 1.9 million bbl to 88.3 million bbl after increasing 2.7 million bbl in the previous week and were above the 84.0 million bbl reported in the same week last year. Gasoline imports into the Gulf Coast averaged 15,000 bpd, down by 70,000 bpd week-over-week and below the 125,000 bpd imported in the comparable week of 2025. The decline in gasoline imports alongside elevated refinery runs suggests the region remains well supplied from domestic production.

Crude oil inventories in PADD 3 increased by 2.7 million bbl to 271.3 million bbl week-over-week and were above 254.3 million bbl recorded in the same week of 2025. Crude oil imports into the Gulf Coast fell by 434,000 bpd to 1.082 million bpd and were below the 1.118 million bpd recorded in the comparable week last year.

Refinery utilization on the Gulf Coast declined to 95.6% from 97.4% the previous week, with crude oil inputs falling by 244,000 bpd to 9.218 million bpd, EIA data showed.

EIA: Propane/Propylene Stocks Climb 42.8% on Year

The Energy Information Administration reported on Wednesday (4/8) total domestic propane/propylene stocks of 77.596 million bbl in the week ending April 3, up 570,000 bbl week-on-week and 33.229 million bbl, or 42.8% higher than in the same week last year.

Data show propane/propylene exports last week averaged 1.711 million bpd, down 188,000 bpd week-on-week and 255,000 bpd, or 14.9%, lower than in the same week last year.

Implied demand for propane/propylene in the United States averaged 1.365 million bpd, up 740,000 bpd week-on-week and 304,000 bpd, or 22.3% higher than in the same week last year.

EIA reports domestic propane/propylene production averaged 3.038 million bpd, up 51,000 bpd week-on-week and 294,000 bpd, or 9.7% higher than in the same week last year.

East Coast PADD 1 inventories ended the week at 3.599 million bbl, up 379,000 bbl week-on-week and 88,000 bbl, or 2.4% lower than in the same week last year.

Midwest PADD 2 inventories ended the week at 14.946 million bbl, up 368,000 bbl week-on-week and 5.182 million bbl, or 34.7% higher than in the same week last year.

Gulf Coast PADD 3 inventories ended the week at 55.95 million bbl, down 84,000 bbl week-on-week and 27.596 million bbl, or 49.3% 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 3.101 million bbl, down 93,000 bbl week-on-week and 539,000 bbl, or 17.4% higher than in the same week last year. 

EIA: PADD 1 Gasoline Stocks Hit New 2026 Low

East Coast (PADD 1) gasoline inventories fell for a third consecutive week in the week ended April 3, reaching a new low for 2026, while jet fuel stocks declined for a third straight week, according to data released by the U.S. Energy Information Administration on Wednesday (4/8).

Motor gasoline stocks in PADD 1 fell by 1.8 million bbl to 57.7 million bbl after declining 2.7 million bbl in the previous week, and were below the 59.9 million bbl reported in the same week last year. The latest level for East Coast gasoline is the lowest since the week ended January 2, 2026, when inventories stood at 56.2 million bbl, EIA data showed.

Gasoline imports in PADD 1 averaged 183,000 bpd, up by 84,000 bpd week-over-week, but below the 394,000 bpd imported in the comparable week of 2025.

Jet fuel inventories in PADD 1 decreased by 400,000 bbl to 9.5 million bbl in the week ending April 3 and were in line with the 9.5 million bbl recorded in the same period last year. Imports of the product into the region averaged 17,000 bpd, down from 41,000 bpd the prior week and below the 30,000 bpd imported a year earlier.

Distillate fuel oil inventories in PADD 1 increased by 200,000 bbl to 28.3 million bbl in the week ending April 3 and were above the 26.1 million bbl recorded in the same period a year earlier. Distillate fuel oil imports averaged 107,000 bpd, up 2,000 bpd from the prior week and above the 61,000 bpd imported in the same week last year.

Refinery utilization on the East Coast slipped to 91.1% from 91.2% the previous week, with crude oil inputs declining by 9,000 bpd to 820,000 bpd, EIA data showed.

Crude oil inventories on the East Coast increased by 200,000 bbl to 8.3 million bbl week-over-week and were in line with the 8.3 million bbl reported in the same week of 2025. Crude oil imports fell by 125,000 bpd to 536,000 bpd and were slightly above the 530,000 bpd recorded in the comparable week last year.

EIA: Crude Stocks Near 3-Year High After 7th Weekly Rise

U.S. commercial crude oil stocks rose for a seventh consecutive week in the week ended April 3, reaching near three-year highs, Energy Information Administration (EIA) data released Wednesday (4/8) showed. On the products front, stockpiles of gasoline, distillates and jet fuel continued to decline.

Crude stocks climbed by 3.1 million bbl to 464.7 million bbl during the profiled week. This level is 22.4 million bbl, or 5.1%, above year-ago levels. That was the highest since June 11, 2021, when inventories stood at 466.7 million bbl.

Crude oil exports averaged 4.149 million bpd in the profiled week, an increase of 877,000 bpd from the previous week. During the week profiled, crude imports averaged 6.324 million bpd, a 628,000 bpd increase from the week prior.

Crude balances at the Cushing, Oklahoma delivery point for WTI crude futures were basically unchanged at 31.5 million barrels, after a 520,000 bbl build the previous week.

Total motor gasoline inventories fell by 1.6 million bbl last week to 239.3 million bbl. During the prior week to March 27, gasoline stocks fell 586,000 bbl. Despite the latest weekly drop, gasoline stocks were still 3.3 million bbl, or 1.4%, higher than a year ago.

Distillate fuel inventories fell by 3.1 million bbl to 114.7 million bbl, extending the prior weekly decline of 2.111 million bbl. On a yearly basis, distillate stocks were 111.1 million bbl, or 3.6%, higher.

On the jet fuel front, stocks fell 600,000 bbl on the week to 43.3 million bbl. The latest change was still 2.4 million bbl, or 5.9%, above year-ago levels.
Refinery utilization decreased to 92% last week from 92.1% of operable capacity reported the prior week. Crude oil input into refineries averaged 16.25 million bpd during the week ended April 3, down by 129,000 bpd from the previous week’s average.

Total products supplied over the last four weeks averaged 20.801 million bpd, up 19,564 bpd from the same period a year earlier. Gasoline demand averaged 8.725 million bpd, up 8,595 bpd from the same period last year, while distillate demand averaged 4.017 million bpd, higher by 3,833 bpd year-over-year.

EIA: U.S. Ethanol Inventories Increase 9.3% Y-o-Y

The Energy Information Administration reported on Wednesday (4/8) that overall ethanol production in the United States averaged 1.116 million bpd, up 41,000 bpd week-on-week and 104,000 bpd, or 9.3% higher than in the same week last year. Four-week average output at 1.1 million bpd was 63,000 bpd above the same four weeks last year.

Midwest ethanol production averaged 1.065 million bpd, up 41,000 bpd week-on-week and 110,000 bpd, or 10.3% higher than in the same week last year. Four-week average output at 1.046 million bpd was 63,000 bpd above the same four weeks last year.

Ethanol blending activity in the U.S. averaged 895,000 bpd, down 8,000 bpd week-on-week and 7,000 bpd, or 0.8% lower than in the same week last year. Four-week average blending demand at 891,000 bpd was 4,000 bpd above the same four weeks last year.

Blender inputs at the East Coast were down 1,000 bpd on the week while inputs in the Midwest were down 0,000 bpd, down 9,000 bpd on the Gulf Coast and up 1,000 bpd on the West Coast.

Domestic ethanol inventories ended the week at 26.053 million bbl, up 62,000 bbl week-on-week and 761,000 bbl, or 2.9% lower than in the same week last year.

East Coast PADD 1 inventories ended the week at 7.734 million bbl, down 239,000 bbl week-on-week and 198,000 bbl, or 2.6% lower than in the same week last year.

Midwest PADD 2 inventories ended the week at 10.743 million bbl, up 88,000 bbl week-on-week and 378,000 bbl, or 3.5% lower than in the same week last year.

Gulf Coast PADD 3 inventories ended the week at 4.568 million bbl, up 44,000 bbl week-on-week and 96,000 bbl, or 2.1% lower than in the same week last year.

West Coast PADD 5 inventories ended the week at 2.63 million bbl, up 167,000 bbl week-on-week and 94,000 bbl, or 3.6% lower than in the same week last year.

ExxonMobil: Iran War to Impact 6% of Firm’s Global Output

ExxonMobil announced Wednesday (4/8) that it expects a 6% drop in global production for the first quarter of this year as the conflict in the Middle East impacts output at the world’s largest publicly-traded energy company.

“The Middle East assets represent approximately 20% of our global oil-equivalent production, but a smaller percentage of upstream earnings,” ExxonMobil said in a regulatory filing.

It said certain assets in Qatar and the UAE, in which ExxonMobil held ownership interests, experienced production disruptions beginning in March, following the February start of U.S.-Israel airstrikes against Iran.

“As a result, the company expects Middle East disruptions to lower global oil-equivalent production by approximately 6% in first quarter compared with fourth-quarter 2025,” ExxonMobil said in the filing.

Breaking down the impact on its production, ExxonMobil said damage to a liquefied natural gas complex in Qatar accounted for half of the reported outages. It said missile strikes impacted two LNG production trains that accounted for approximately 3% of its 2025 upstream production, and repairs will likely require a prolonged period to complete.

Refining and trading segments are expected to see a combined earnings hit of up to $5.3 billion, ExxonMobil said, adding that “unusually large” negative timing impacts and inability to deliver physical shipments factored into the losses.

The company expects to record an impairment of $600 million to $800 million as a result of failed deliveries alone.

ExxonMobil is scheduled to release its full quarterly financial results on May 1.

The Trump administration announced a two-week ceasefire Tuesday between the U.S., Israel, and Iran to negotiate an end to the monthlong conflict. The Strait of Hormuz, blockaded by Iran for most of the 40-day duration of the war, will be reopened, officials said, restoring passage for 20 million bpd of petroleum liquids.

U.S. Rack ULSD Rises 18.9cts; Gasoline Up 5.19cts

Wholesale rack prices for ultra-low sulfur diesel (ULSD) and gasoline moved higher Wednesday (4/8), extending Tuesday’s advance, even as futures markets turned sharply lower following a ceasefire in the Iran war.

U.S.-Israeli airstrikes on Iran and Tehran’s counterfire at oil and gas facilities of its neighbors will pause for two weeks to allow negotiators to find ways to end the conflict, which began on February 27, officials in the Trump administration announced. The Strait of Hormuz, where the movement of some 20 million bpd of petroleum liquids had been blockaded by Iran, will also be open during the ceasefire, the officials added.

Nationwide ULSD rack prices averaged $4.7003 gallon, up 18.87cts from Tuesday’s $4.5116 gallon, according to DTN data. Conventional unleaded gasoline rack prices averaged $3.4884 gallon, up 5.19cts from $3.4365 gallon. Premium gasoline averaged $3.7844 gallon, up 4.58cts on the session.

Futures prices moved sharply lower Wednesday morning. Front-month May NYMEX ULSD futures fell 72.24cts to $3.7550 gallon, while May RBOB gasoline futures declined 37.01cts to $2.9351 gallon. WTI crude for May delivery dropped $19.82 to $93.13 bbl.

The selloff in futures followed confirmation of a two-week ceasefire agreement between the United States and Iran, aimed at allowing negotiations to reopen the Strait of Hormuz and ease disruptions across global energy flows. The development marked a significant shift from prior escalation, sharply reducing immediate supply risk priced into the market.

Despite the steep decline in futures, rack prices continued to move higher across most regions, reflecting a lag in physical markets and ongoing tightness in near-term supply conditions.

ULSD racks increased across all regions Wednesday, with the largest moves in PADD 4 and PADD 2. Rocky Mountain ULSD rose 31.89cts to $4.4824 gallon, while Midwest prices climbed 24.99cts to $4.4819 gallon. East Coast values increased 11.32cts to $4.7243 gallon, while Gulf Coast prices rose 12.06cts to $4.6550 gallon. West Coast ULSD advanced 18.86cts to $5.7736 gallon, maintaining the strongest regional premium.

Relative to the national ULSD rack average of $4.7003 gallon, PADD 5 held the widest premium at $1.0733 above the U.S. benchmark, followed by PADD 1 at 2.40cts above. PADD 3 traded slightly below the national average, while PADD 2 and PADD 4 remained at discounts of 21.84cts and 21.79cts, respectively.

On conventional unleaded gasoline racks, movements were mixed across regions Wednesday. Rocky Mountain gasoline recorded the largest increase, rising 10.77cts to $3.2906 gallon. West Coast prices edged slightly higher by 0.18cts to $4.0436 gallon. In contrast, East Coast gasoline declined 2.34cts to $3.1625 gallon, Gulf Coast prices fell 1.04cts to $3.1753 gallon, and Midwest values slipped 0.38cts to $2.8916 gallon.

Compared with the national gasoline average of $3.4884 gallon, PADD 5 remained the only region trading at a premium, at 55.52cts above the benchmark. All other regions held discounts, led by PADD 2 at 59.68cts below the national average, followed by PADD 1 at 32.59cts, PADD 3 at 31.31cts, and PADD 4 at 19.78cts.

Premium gasoline rack prices were mixed. PADD 4 posted a sharp increase of 30.57cts to $3.7231 gallon, while Midwest prices rose 5.34cts to $3.4548 gallon. East Coast and Gulf Coast values edged slightly lower, while West Coast premiums remained elevated at $4.4429 gallon.

The divergence between sharply lower futures and higher rack prices highlights how physical markets continue to reflect tight near-term supply conditions, even as geopolitical risk premium is rapidly unwound in paper markets. While structure has eased, both ULSD and RBOB futures remain in backwardation, with front-month contracts still trading at premiums of around 25cts and 9cts, respectively, signaling that prompt supply remains tight despite the shift in broader market sentiment.

Shell Expects Lower Q1 Upstream Output, Refining Climbs

Shell expects its first-quarter upstream production to range from about 1.76 million to 1.86 million barrels of oil equivalent per day (boepd), down from 1.88 million boepd in the fourth quarter, the company said in an updated note released Wednesday (4/8).

“In light of the ongoing situation in the Middle East, the outlook provided is subject to increased uncertainty,” Shell stated.

Adjusted earnings for the upstream segment are projected to range from $0.2 billion to $3.1 billion, benefiting from higher Trading and Optimization results compared to the fourth quarter of 2025.

Refinery utilization for the first quarter is expected to range from 95% to 99%, up from 95% in the fourth quarter, while the indicative refining margin rose from $14 bbl to $17 bbl. Integrated gas production, meanwhile, is estimated to range from 880,000 to 920,000 boepd, below the 948,000 boepd recorded in the fourth quarter.

Trump: 2-Week Ceasefire With Iran to Reopen Hormuz, End War

The United States and Israel have agreed to a two-week ceasefire with Iran to allow for peace talks aimed at ending the Middle East conflict and reopening of the Strait of Hormuz, which used to serve a fifth of the world’s petroleum cargoes, U.S. President Donald Trump announced late Tuesday (4/7).

“I agree to suspend the bombing and attack of Iran for a period of two weeks,” Trump wrote on his Truth Social platform about 90 minutes before the expiry of his 8:00 p.m. deadline on Tuesday for Iran to reopen the strait or face massive destruction of its power plants and other infrastructure.

Oil prices, which hit four-year highs in recent weeks, tumbled Wednesday (4/8) morning on the news. By 7.15 a.m. ET, NYMEX WTI was down $18.69 to $92.46 bbl, after peaking at $117.63 on Tuesday (4/7). ICE Brent traded $15.65 lower at $93.62, after surging to $119.13 in mid-March.

Trump said he arrived at the ceasefire after intervention by Pakistan’s Prime Minister Shehbaz Sharif, who asked for the pause in fighting to fulfill his role as mediator to the conflict.

He added that the ceasefire would depend on Iran agreeing to fully, immediately, and safely reopen the Strait of Hormuz.

Iran effectively blockaded the strait shortly after the start of U.S.-Israel military campaign on February 27, halting most tanker traffic through the narrow waterway, which during normal times allowed passage for some 20 million bpd of petroleum liquids. During the 40 days of fighting, at least 24 commercial vessels were reportedly struck by missiles and drones while being on the strait that borders Iran, Oman and the UAE, leading to the missing or deaths of 12 crew members.

Israeli Prime Minister Benjamin Netanyahu said in a separate statement that he supports the U.S. initiative to end the fighting and reopening the strait. 

Iranian President Masoud Pezeshkian was also on board with the ceasefire talks, Pakistani Prime Minister Shehbaz Sharif’s office announced on Wednesday after a 45-minute phone call reportedly held between the two leaders.