MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for October 21^st

Updated at 5:00 PM ET 

HEADLINES:

— API: Crude Stocks Draw; Gasoline, Distillates Decline Too

— Pine Wave Sells East Texas Gas Assets to Rockcliff Energy

–API Withdraws Support on E15 Citing Losses for Refiners

— EIA: U.S. Gasoline Falls 4.2cts on Week to $3.019 Gallon

— EIA: U.S. Diesel Price Drop 4.5cts on Week

NEWS:

API: Crude Stocks Draw; Gasoline, Distillates Decline Too

U.S. crude oil inventories fell for the first time in three weeks during the week ended October 17, while gasoline and distillate fuel stocks also declined, the American Petroleum Institute reported on Tuesday (10/21).

U.S. commercial crude oil supply decreased by 2.98 million bbl last week, following a 3.524 million bbl build the prior week.

Gasoline inventories fell by 236,000 bbl in the week ending October 18, compared with a 270,000 bbl draw the previous week.

Distillate fuel stocks also declined, sliding by 974,000 bbl after a 4.53 million bbl decrease the prior week.

Pine Wave Sells East Texas Gas Assets to Rockcliff Energy

Pine Wave Energy Partners announced Tuesday (10/21) that it has sold to Rockcliff Energy III its East Texas natural gas assets. The transaction includes 25 operated wells with a combined production capacity of 100 MMcfb.

Pine Wave did not specify the value of the transaction that covered wells in the San Augustine and Shelby Counties and stretch over approximately 29,000 net acres.

Rockcliff said the acquisition provides enough drilling locations in the Bossier and Haynesville shales to sustain and increase production in years to come.

The asset sale was the second in just over three years for Pine Wave, which said it has another 10,000 net acres to develop a new platform in the Haynesville Shale – one of the top three U.S. gas basins, with output in the range from 12 to 15 Bcfd.

API Withdraws Support on E15 Citing Losses for Refiners

The American Petroleum Institute (API) withdrew its support for year-round E15 gasoline sales on Tuesday (10/21), arguing that the 15% ethanol blend should not increase financial losses for refiners.

In a letter to Congress, API President and CEO Mike Sommers stated that while the group still backs consumer choice, market dynamics have “changed dramatically” since the Nationwide Consumer and Fuel Retailer Choice Act of 2025 was proposed.

The legislation was introduced in July 2023, after eight Midwest states petitioned the Environmental Protection Agency in April 2022 to opt out of the national summertime waiver for the E10. The states wanted to be supplied with a blend that could not be easily mixed, substituted or transported interchangeably with the standard gasoline used in the rest of the region.

But after refiners had invested heavily in new infrastructure for the blend, the states asked to be exempt from their original requests, resulting in losses for API members, according to Sommers.

The API’s shift comes as California is set to introduce E15 gasoline statewide, following Governor Gavin Newsom’s approval of AB 30 legislation earlier this year.

The West Coast fuel market has experienced persistent supply volatility in 2025 due to refinery disruptions.  So far this year, Chevron’s 276,000 El Segundo refinery has reported multiple emergency flare events, including a massive explosion in early October.

EIA: U.S. Gasoline Falls 4.2cts on Week to $3.019 Gallon

Retail regular gasoline prices continued to fall in the week ended October 20, led by declines across all major regions, data from the U.S. Energy Information Administration showed Tuesday (10/21).
The national average for retail regular gasoline was down 4.2cts to $3.019 gallon in the week ending October 20, and 12.5cts lower from the same week a year ago.
East Coast PADD 1 gasoline declined by 5cts to $2.902 gallon, and down 15.2cts from last year.
Within the East Coast, New England PADD 1A dropped by 3.1cts to $2.949 gallon, while remaining 9cts below year-ago levels.
Central Atlantic PADD 1B fell by 4cts to $3.064 gallon, and was down 11.3cts from a year ago.
Lower Atlantic PADD 1C slipped by 6.2cts to $2.787 gallon. That was 19.2cts below the corresponding week of last year.
Midwest PADD 2 gasoline edged down by 0.7cts to $2.805 gallon, leaving it 20.1cts lower than year-ago levels.
Gulf Coast PADD 3 dropped by 6.7cts to $2.556 gallon, and was down 16.4cts year-on-year.
Rocky Mountain PADD 4 fell by 5.2cts to $2.997 gallon. That was 22.4cts below the same week last year.
West Coast PADD 5 gasoline decreased by 4.7cts to $4.166 gallon. But compared to a year ago, it was up 13.2cts.
For West Coast less California gasoline, the weekly decline was 7.1cts to $3.878 gallon. Year-on-year, it was up 23.7cts.

EIA: U.S. Diesel Price Drop 4.5cts on Week

The national average price for retail diesel fuel declined by 4.5cts as of Monday (10/20), marking a fourth consecutive week of losses, with decreases reported across all U.S. regions, according to latest data from the Energy Information Administration.

The national average for retail diesel fuel fell by 4.5cts to $3.62 gallon. That was still 6.7cts above the price from the same week last year.

East Coast PADD 1 average diesel prices slipped by 4.6cts to $3.675 gallon as of October 20, while remaining 8.5cts higher from a year ago.

New England PADD 1A eased by 0.6cts to $3.943 gallon during the same period and Central Atlantic PADD 1B edged up by 0.1cts to $3.878 gallon, while Lower Atlantic PADD 1C declined by 6.1cts to $3.578 gallon.

Gulf Coast PADD 3 followed with a weekly decline of 4.3cts to $3.256 gallon, while remaining 5.7cts up year-on-year.

Midwest PADD 2 saw a weekly drop of 4.2cts to $3.564 gallon as of October 20 but stayed up 2.1cts on the year.

Rocky Mountain PADD 4 registered the largest regional decrease, down by 7.3cts to $3.585 gallon. Year-on-year, it was down 5.1cts.

West Coast PADD 5 diesel prices declined by 4.3cts to $4.421 gallon, while standing 21.1cts above the same period last year.

West Coast less California dropped by 4.4cts to $4.008 gallon and remained 22.3cts higher than last year. California fell by 4.2cts to $4.898 gallon, staying 20cts higher from a year ago.