MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for October 16^th

Updated at 5:00 PM ET 

HEADLINES:

–WTI Dips to $57, Pressured by U.S. Crude Build

–EIA: New 13.9 Bcf/d Capacity to Double U.S. LNG Exports

–EIA: PADD 2 Gasoline Stocks Dip by 900k Bbl on Week

–EIA: PADD 3 Gasoline Stocks Fall to 79.3M Bbl

–EIA: PADD 1 Gasoline Stocks Rise 1.5Mb, Distillates Fall

–EIA: PADD 5 Gasoline Stocks Fall to 29.3M Bbl

–EIA: U.S. Crude Sees 3-Wk Stock Build; Gas, Distillates DN

–EIA: Propane/Propylene Stocks Up 1.9% W/W

–EIA: US Ethanol Output Up 0.3% W/W

–CEC: California Gasoline Stocks Fall 315K Bbl W-o-W

–CEC: California Diesel Stocks Climb 94K Bbl Wk-on-Wk

NEWS:

WTI Dips to $57, Pressured by U.S. Crude Build

Oil futures fell for a third straight day on Thursday (10/16) after the third consecutive weekly build in U.S. crude stockpiles reported by the Energy Information Administration.

The NYMEX WTI contract for November delivery fell $0.81 to settle at $57.46 bbl, while ICE Brent for December delivery slid $0.62 to $61.29.

November RBOB gasoline futures were down $0.0181 at $1.8163 gallon, and front-month ULSD futures fell $0.0189 to $2.1559 gallon.

The U.S. Dollar Index dipped by 0.391 points to 98.15 against a basket of foreign currencies.

Oil futures rose briefly in morning trading after U.S. officials indicated that India and Japan might stop buying Russian oil – a claim not confirmed by the two countries.

However, prices later fell driven by weekly EIA data and remarks from U.S. President Donald Trump, who announced plans to meet with Russian President Vladimir Putin to discuss ending the war in Ukraine.

The EIA reported that U.S. commercial crude stocks jumped 3.5 million bbl to 423.8 million bbl during the week ended October 10, after two prior weekly builds of 3.7 million bpd and 600,000 bpd. With the new additions, inventories stand at about 3.3 million bbl above the volume reported in the same week of last year.

In the profiled week, gasoline stockpiles slipped by 300,000 bbl to 218.8 million bbl, following a small decline the prior week, EIA data showed. Distillate dropped a sizeable 4.6 million bbl to 117 million bbl, reversing the prior week’s modest build.

Sharp upward revisions in crude inventories around the world, along with U.S.-China trade tensions, have weighed on WTI and Brent pricing, dragging the two benchmarks to five month-lows.

On Tuesday (10/14), the International Energy Agency forecasted a record crude stockpile of 4 million bbl for 2026. On the trade front, Washington criticized Beijing’s recent restrictions on rare earths exports calling them a “global supply chain power grab”.

EIA: New 13.9 Bcf/d Capacity to Double U.S. LNG Exports

The United States export capacity for LNG is expected to double over the next four years, with an anticipated 13.9 Bcfd added to the existing 15.4 Bcfd capacity, the U.S. Energy Information Administration (EIA) said Thursday.

North American export capacity – which includes production from the U.S., Canada and Mexico, is expected to more than double, with an additional  28.7 Bcfd on top of the current 11.4 Bcfd, according to the EIA.

In Canada, the new LNG capacity will be on the west coast of North America, reducing shipping times to Asian markets by 50% compared to exports from U.S. Gulf Coast terminals, the EIA said.

For Mexico, developers are building two LNG export projects with a combined capacity of 0.6 Bcfd.

The additional U.S. supply will come from five LNG projects currently under construction:

• Port Arthur LNG Phase 1,  with an estimated production of 1.6 Bcfd

• Rio Grande LNG, 2.1 Bcfd

• Woodside Louisiana LNG, 2.2 Bcfd

• Golden Pass LNG, 2.1 Bcfd

• CP2 Phase 1, 2.0 Bcfd

EIA: PADD 2 Gasoline Stocks Dip by 900k Bbl on Week

Midwest PADD 2 gasoline and distillate inventories continued thei downward trend for the week ending October 10, followed by a slight draw on jet fuel, while  crude oil inventories showed a build, according to U.S. Energy Information Administration data released Thursday (10/16).

PADD 2 gasoline stocks decreased by 900,000 bbl to 46.5 million bbl in the profiled week, a 900,000 bbl increase compared to a year earlier. Gasoline imports fell to 14,000 bpd from 18,000 bpd the prior week, compared with zero bpd recorded in the same week a year earlier.

PADD 2 distillate inventories fell by 2 million bbl to 28.4 million bbl in the reference week, which is 400,000 bbl higher than the volume recorded in the same week of the previous year. The region imported 10,000 bpd of distillates, compared with 8,000 bpd the prior week and 10,000 bpd in the same week a year earlier.

Midwest jet fuel inventories fell by 100,000 bbl to 7.5 million bbl in the respective week,  800,000 bbl above the volume reported in the corresponding week a year earlier. The region continued to report zero imports on both a weekly and year-over-year basis. Crude oil inventories in PADD 2 rose by 1.3 million bbl to 102 million bbl in the week ending October 10, compared with 105.2 million bbl reported during the same week of the prior year.

EIA: PADD 3 Gasoline Stocks Fall to 79.3M Bbl

Gulf Coast PADD 3 gasoline inventories declined in the week ending October 10, while distillate stocks eased slightly and crude oil inventories posted a small build, according to U.S. Energy Information Administration data released Thursday (10/15).

Gasoline inventories fell by 400,000 bbl to 79.3 million bbl in the reference week and were 3.1 million bbl higher than the 76.2 million bbl reported in the same week of last year. Imports in the region climbed by 37,000 bpd to 40,000 bpd and were below the 73,000 bpd imported in the same week last year.

Distillate inventories declined by 100,000 bbl to 44.7 million bbl in the reference week but were 4.1 million bbl higher than the 40.6 million bbl recorded in the same period of the prior year. Imports were unchanged at zero bpd, in line with the same week the prior year.

Crude oil inventories climbed by 100,000 bbl to 244.6 million bbl in the week ending October 10. Supplies were 4.7 million bbl above the 239.9 million bbl held in 2024. Imports fell by 254,000 bpd to 986,000 bpd, down from 1.35 million bpd in the same period of last year.

Jet fuel inventories were steady at 14.5 million bbl in the reference week and were 300,000 bbl above the 14.2 million bbl reported in 2024. Imports were unchanged at zero bpd, consistent with the previous year.

EIA: PADD 1 Gasoline Stocks Rise 1.5Mb, Distillates Fall

East Coast PADD 1 crude oil, gasoline and jet fuel inventories rose during the week ending October 10 while distillate stocks declined, U.S. Energy Information Administration data released Wednesday (10/16) showed.

PADD 1 gasoline stocks increased by 1.5 million bbl to 56.5 million bbl in the profiled week, a 2 million bbl drop compared to a year earlier. Gasoline imports fell to 383,000 bpd from 483,000 bpd the prior week, though above the 323,000 bpd recorded in the same week a year earlier.

PADD 1 distillate inventories fell by 2.5 million bbl to 27.7 million bbl in the reference week, which is 5.6 million bbl lower than the volume recorded in the same week of the previous year. The region imported 111,000 bpd of distillates, compared with 56,000 bpd the prior week and 99,000 bpd in the same week a year earlier.

East Coast jet fuel inventories rose by 400,000 bbl to 9.7 million bbl in the respective week. That was 1.3 million bbl below the volume reported in the corresponding week a year earlier. Regional jet fuel imports stood at zero bpd, unchanged from the prior week in line with the volume reported during the same period last year.

Crude oil inventories in PADD 1 rose by 1.4 million bbl to 8.1 million bbl in the week ending October 10, compared with 8.3 million bbl reported during the same week of the prior year.

EIA: PADD 5 Gasoline Stocks Fall to 29.3M Bbl

West Coast PADD 5 gasoline inventories fell in the week ending October 10 as distillate stocks climbed and jet fuel edged lower amid steady crude oil stocks, according to U.S. Energy Information Administration data released Thursday (10/16).

Gasoline inventories fell by 300,000 bbl to 29.3 million bbl from 29.6 million bbl in the week ending October 10. Stocks were 3.4 million bbl higher than the 25.9 million bbl recorded in 2024. Gasoline imports dropped by 28,000 bpd to 95,000 bpd from 123,000 bpd, compared with 127,000 bpd last year.

Distillate inventories climbed by 200,000 bbl to 12.7 million bbl from 12.5 million bbl. Stocks were 2.4 million bbl higher than the 10.3 million bbl seen last year. Distillate imports fell by 32,000 bpd to 26,000 bpd from 58,000 bpd, compared with 12,000 bpd in the year prior.

Jet fuel inventories fell by 100,000 bbl to 11.9 million bbl from 12.0 million bbl in the reference week. Stocks were 1.7 million bbl above the 10.2 million bbl held last year. Jet fuel imports climbed by 56,000 bpd to 143,000 bpd from 87,000 bpd, up from 75,000 bpd last year.

Crude oil inventories were steady at 46.0 million bbl from the prior week’s 46.0 million bbl, up 1.0 million bbl from the 45.0 million bbl reported last year.

EIA: U.S. Crude Sees 3-Wk Stock Build; Gas, Distillates DN

U.S. commercial crude oil inventories rose for the third straight week as of  October 10, while gasoline and distillate fuel oil stocks both declined, the Energy Information Administration reported Wednesday (10/16).

Commercial crude stocks increased by 3.5 million bbl to 423.8 million bbl, following last week’s 3.7 million bbl build. Inventories now stand about 3.3 million bbl above levels a year earlier.

Stocks at Cushing, Oklahoma, the delivery point for NYMEX West Texas Intermediate futures, fell by 700,000 bbl to 22 million bbl, marking the third consecutive weekly draw.

Blending components decreased by 300,000 bbl to 203.1 million bbl, while conventional gasoline stocks declined by 100,000 bbl to 15.6 million bbl.

Distillate fuel oil inventories posted the largest draw among major products, falling by 4.6 million bbl to 117 million bbl, reversing last week’s modest build. Despite the draw, inventories remain about 2 million bbl above the same period last year, with most of the decrease occurring in low-sulfur grades.

Total motor gasoline inventories slipped by 300,000 bbl to 218.8 million bbl, following a small decline the prior week. Blending components accounted for most of the decrease, while conventional gasoline also edged lower.

Refinery utilization fell to 85.7% of capacity, down from 92.4% the prior week and below 87.7% a year earlier. Crude runs averaged 15.130 million bpd, a decline of 1.167 million bpd week-on-week.

Crude exports averaged 4.466 million bpd, up from 3.590 million bpd the previous week and 4.123 million bpd a year earlier. Crude imports dropped by 878,000 bpd to 5.525 million bpd, reversing the gains from the prior two weeks.

Total products supplied over the last four weeks averaged 20.669 million bpd, 0.5% below the same period last year. Gasoline demand averaged 8.713 million bpd, slightly lower than a year earlier, while distillate demand averaged 3.983 million bpd, up by 0.2% year-on-year.

EIA: Propane/Propylene Stocks Up 1.9% W/W

The Energy Information Administration reported on Wednesday total domestic propane/propylene stocks of 102.376 million bbl in the week ending October 10, up 1.875 million bbl week-on-week and 759,000 bbl, or 0.7% lower than in the same week last year.
Data show propane/propylene exports last week averaged 2.134 million bpd, up 249,000 bpd week-on-week and 601,000 bpd, or 28.2%, higher than in the same week last year.
Implied demand for propane/propylene in the United States averaged 495,000 bpd, down 979,000 bpd week-on-week and 288,000 bpd, or 58.2% lower than in the same week last year.
EIA reports domestic propane/propylene production averaged 2.809 million bpd, down 53,000 bpd week-on-week and 126,000 bpd, or 4.5% higher than in the same week last year.
East Coast PADD 1 inventories ended the week at 8.927 million bbl, up 889,000 bbl week-on-week and 940,000 bbl, or 10.5% higher than in the same week last year.
Midwest PADD 2 inventories ended the week at 27.063 million bbl, up 243,000 bbl week-on-week and 1.647 million bbl, or 6.1% lower than in the same week last year.
Gulf Coast PADD 3 inventories ended the week at 60.914 million bbl, up 754,000 bbl week-on-week and 577,000 bbl, or 0.9% 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 5.472 million bbl, down 10,000 bbl week-on-week and 628,000 bbl, or 11.5% lower than in the same week last year.

EIA: US Ethanol Output Up 0.3% W/W

The Energy Information Administration reported on Wednesday that overall ethanol production in the United States averaged 1.074 million bpd, up 3,000 bpd week-on-week and 32,000 bpd, or 3% higher than in the same week last year. Four-week average output at 1.041 million bpd was 19,000 bpd above the same four weeks last year.
Midwest ethanol production averaged 1.024 million bpd, down 1,000 bpd week-on-week and 39,000 bpd, or 3.8% higher than in the same week last year. Four-week average output at 988,000 bpd was 24,000 bpd above the same four weeks last year.
Ethanol blending activity in the U.S. averaged 915,000 bpd, up 23,000 bpd week-on-week and 3,000 bpd, or 0.3% higher than in the same week last year. Four-week average blending demand at 903,000 bpd was 5,000 bpd below the same four weeks last year.
Blender inputs at the East Coast were up 4,000 bpd on the week while inputs in the Midwest were up 11,000 bpd, up 8,000 bpd on the Gulf Coast and down 1,000 bpd on the West Coast.
Domestic ethanol inventories ended the week at 22.628 million bbl, down 92,000 bbl week-on-week and 353,000 bbl, or 1.6% higher than in the same week last year.
East Coast PADD 1 inventories ended the week at 6.86 million bbl, up 259,000 bbl week-on-week and 108,000 bbl, or 1.6% higher than in the same week last year.
Midwest PADD 2 inventories ended the week at 9.041 million bbl, down 94,000 bbl week-on-week and 98,000 bbl, or 1.1% lower than in the same week last year.
Gulf Coast PADD 3 inventories ended the week at 3.848 million bbl, down 55,000 bbl week-on-week and 104,000 bbl, or 2.7% lower than in the same week last year.
West Coast PADD 5 inventories ended the week at 2.51 million bbl, down 211,000 bbl week-on-week and 419,000 bbl, or 16.7% higher than in the same week last year.

CEC: California Gasoline Stocks Fall 315K Bbl W-o-W

California gasoline inventories declined in the week ending October 10, led by draws in Southern California, according to the California Energy Commission’s Weekly Fuels Report released Thursday (10/16).

Statewide gasoline stocks, including CARB reformulated, non-California, and blending components, fell by 315,000 bbl to 11.048 million bbl, while remaining 4.5% above last year’s levels.

Northern California gasoline inventories dropped by 71,000 bbl to 4.809 million bbl, down 2.5% year over year. CARB reformulated gasoline in the north fell by 40,000 bbl to 2.898 million bbl, non-California gasoline declined by 24,000 bbl to 309,000 bbl, and blending components slipped by 7,000 bbl to 1.602 million bbl.

Southern California gasoline inventories fell by 244,000 bbl to 6.239 million bbl but remained 11% above last year. CARB reformulated gasoline in the south dipped by 8,000 bbl to 2.551 million bbl, non-California gasoline fell by 164,000 bbl to 616,000 bbl, and blending components declined by 72,000 bbl to 3.072 million bbl.

Statewide gasoline production dropped by 785,000 bbl to 5.26 million bbl but remained 8% above the prior-year level.

Southern California gasoline production fell sharply by 691,000 bbl to 3.341 million bbl, little changed from a year ago. CARB reformulated gasoline output in the south dropped by 671,000 bbl to 2.959 million bbl, with non-California gasoline output slipping by 20,000 bbl to 382,000 bbl.

Northern California gasoline production declined by 94,000 bbl to 1.919 million bbl, up 24% from 2024. CARB reformulated gasoline in the north climbed by 103,000 bbl to 1.700 million bbl, and non-California gasoline fell by 197,000 bbl to 219,000 bbl.

CEC: California Diesel Stocks Climb 94K Bbl Wk-on-Wk

California diesel inventories increased in the week ending October 10, with Northern California showing the largest build, according to the California Energy Commission’s Weekly Fuels Report released Thursday (10/16).
Statewide diesel stocks, including CARB and other grades, climbed by 94,000 bbl to 3 million bbl in the reference week, up 5% from last year.
Northern California diesel inventories rose by 79,000 bbl to 1.241 million bbl in the profile week and stood 5% below the same period of last year. CARB diesel in the north climbed by 176,000 bbl to 910,000 bbl, on a weekly basis, while other diesel fell by 403,000 bbl to 331,000 bbl last week. 
Southern California diesel inventories increased by 15,000 bbl to 1.764 million bbl, up 11% year over year. CARB diesel in the south rose by 27,000 bbl to 943,000 bbl, and other diesel slipped by 12,000 bbl to 821,000 bbl as of October 10.
Statewide diesel production climbed by 45,000 bbl to 1.540 million bbl, nearly flat compared with the same week of the prior year.
Southern California diesel production fell by 28,000 bbl to 1 million bbl, down 5% on the year. CARB diesel output in the south dropped by 127,000 bbl to 409,000 bbl, other diesel production rose by 99,000 bbl to 598,000 bbl, in the reference period.
Northern California diesel production climbed by 73,000 bbl to 533,000 bbl week-over-week, a 2% increase from the same week of last year. CARB diesel output in the north rose sharply by 404,000 bbl to 432,000 bbl  as of October 10, while other diesel production fell by 331,000 bbl to 101,000 bbl last week.