MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for November 13th

Updated at 5:00 PM ET 

HEADLINES:

—  Verde Q3 2025 Net Loss Down 6% on Year

—  NY Harbor, USGC Jet Fuel Basis DN on Air Traffic Cuts

—  EIA: PADD 3 Gasoline Stocks Climb to 77.6M Bbl Last Wk

—  EIA: PADD 2 Crude Falls 600Kb; Jet Fuel Stocks Up 400Kb

— EIA: PADD 5 Gasoline Stocks Decline to 28.3M Bbl on Week

— EIA:PADD1 Gasoline Stock DN 2.3M Bbl; Distillates 200K Bbl

— EIA: U.S. Crude Stocks Up 6.4M Bbl on Week, Fuels Down

— EIA: Propane/Propylene Stockpiles Rise 4.6% On Year

— U.S. Ethanol Output Falls, Stocks Up 0.8% on Year

NEWS:

Verde Q3 2025 Net Loss Down 6% on Year

Verde Clean Fuels reported on Thursday (11/13) a third-quarter net loss that was 6% lower from a year ago as it committed to advancing its technology on proprietary liquid fuels processing under a joint-venture with Diamondback Energy.

Verde’s net loss for the quarter in review was $2.33 billion versus the $2.49 billion net loss reported for the third quarter of 2024.

Verde is advancing commercial deployment of its liquid fuels technology, notably the Permian Basin natural gas-to-gasoline plant, a joint-venture project with Diamondback subsidiary Cottonmouth Ventures, CEO Ernest Miller said in a statement accompanying the third-quarter results.

NY Harbor, USGC Jet Fuel Basis DN on Air Traffic Cuts

Jet fuel spot prices in New York and the Gulf Coast dropped to their lowest levels Thursday (11/13) following a drastic reduction in flights and a decline in air traffic, driven by the record-long government shutdown.

New York Harbor jet fuel basis traded at a 12.50 cts discount to December ULSD on Thursday, hitting its lowest price since October 16. So far in November, NY Harbor basis has dropped 9.50cts, according to DTN data.

Meanwhile, U.S. Gulf Coast jet fuel traded at a 24.25cts discount to December ULSD futures contract, down 10.50cts since November 1.

Last week, the U.S. Federal Aviation Administration announced plans to reduce air traffic in 40 high-volume areas by 10% to cope with shortages of air traffic controllers, affecting major hubs in New York and Texas. Both regions account for almost 17% of total U.S. jet fuel consumption, according to the most recent data from the U.S. Energy Information Administration (EIA).

Despite the downward pressure on jet fuel prices in the New York Harbor and the U.S. Gulf Coast, inventory levels in the two regions have shown mixed trends.

EIA data released Thursday showed that East Coast jet fuel stocks eased by 100,000 bbl to 9.2 million bbl in the week ending November 7, which is 1.5 million bbl below the volume reported in the same week last year.

Meanwhile, U.S. Gulf Coast inventories increased by 900,000 bbl to 14.5 million bbl, the largest build since the end of August of this year, and up by 200,000 bbl from 14.3 million bbl in the same week last year, confirming that supply has remained strong even as airline operations have been reduced.

EIA: PADD 3 Gasoline Stocks Climb to 77.6M Bbl Last Wk

U.S. Gulf Coast PADD 3 refined product inventories were mixed during the week ending November 11, according to U.S. Energy Information Administration data released Thursday (11/13).

Gasoline stocks in PADD 3 climbed by 1 million bbl to 77.6 million bbl as of November 11, compared with 78.8 million bbl in the same week of last year. Imports of gasoline in the region rose to 40,000 bpd from 34,000 bpd last week, above 26,000 bpd reported in the corresponding week of 2024.

Distillate inventories in the U.S. Gulf Coast PADD 3 declined by 800,000 bbl to 44.9 million bbl, which was 3.8 million bbl higher than the 41.1 million bbl reported in the same week of last year. The region saw no distillate imports in the reference week, unchanged from last week but below the 4,000 bpd imported in 2024.

PADD 3 jet fuel inventories rose by 900,000  bbl to 14.5 million bbl, above 14.3 million bbl reported in the same week of last year. The region saw no jet fuel imports during the week, unchanged from last week and the same as last year.

Crude oil stocks in PADD 3 increased by 5.8 million bbl to 243.3 million bbl, slightly below 246.2 million bbl recorded in the same week last year. Crude imports in PADD 3 fell to 828,000 bpd from 906,000 bpd the previous week and were below 1.4 million bpd in 2024.

EIA: PADD 2 Crude Falls 600Kb; Jet Fuel Stocks Up 400Kb

Midwest PADD 2 distillate inventories posted a small decline during the week ending November 7, while gasoline and jet fuel stocks increased, U.S. Energy Information Administration data released Thursday (11/13) showed.

PADD 2 gasoline stocks rose by 1.1 million bbl to 43.6 million bbl in the profiled week, up by 100,000 bbl from 43.5 million bbl in the same week last year.

PADD 2 distillate inventories slipped by 200,000 bbl to 23.6 million bbl, down by 2.1 million bbl from 25.7 million bbl in the same week last year.

Midwest jet fuel inventories increased by 400,000 bbl to 7.3 million bbl, up by 600,000 bbl from 6.7 million bbl in the same week last year.

Crude oil inventories in PADD 2 edged down by 600,000 bbl to 103.9 million bbl in the week ending November 7, and were 2.2 million bbl lower than the 106.1 million bbl reported during the same week last year.

EIA: PADD 5 Gasoline Stocks Decline to 28.3M Bbl on Week

U.S. West Coast PADD 5 gasoline, distillate, crude, and jet fuel inventories decline in the week ending November 7, according to U.S. Energy Information Administration data released Thursday (11/13).

Gasoline inventories in the U.S. West Coast PADD 5 fell by 1.2 million bbl to 28.3 million bbl last week. This was a 2.2 million bbl above the 26.1 million bbl recorded in the same week last year, EIA data showed. Gasoline imports fell by 49,000 bpd to 135,000 bpd week over week, compared with 79,000 bpd a year earlier.

PADD 5 distillate inventories fell by 200,000 bbl to 12.5 million bbl, an increase of 2.1 million bbl year-over-year. Distillate imports fell by 18,000 compared to the same week of last year.

Crude oil inventories in the region climbed by 700,000 bbl to 46.5 million bbl last week, and were 1.6 million bbl below the volume reported year-over-year.

PADD 5 Jet fuel inventories dropped by 400,000 bbl to 11.6 million bbl in the profiled week, which up by 1.4 million bbl from what was reported the same week a year earlier. Jet fuel imports climbed by 26,000 bpd to 93,000 bpd last week and increased by 59,000 bpd compared to the same week last year.

EIA:PADD1 Gasoline Stock DN 2.3M Bbl; Distillates 200K Bbl

East Coast PADD 1 gasoline inventories declined during the week ending November 7, while jet fuel and crude oil stocks increased, U.S. Energy Information Administration data released Thursday (11/13) showed.

PADD 1 gasoline stocks fell by 2.3 million bbl to 49.4 million bbl in the week profiled and were 1.9 million bbl lower than the level recorded in the same week last year. Gasoline imports increased by 106,000 bpd to 376,000 bpd from 270,000 bpd the prior week, compared with 559,000 bpd in the same week last year.

PADD 1 distillate inventories increased slightly by 700,000 bbl to 27.1 million bbl in the reference week, still well below the 33.3 million bbl reported in the same week last year. The region reported 134,000 bbl in distillate imports, up 73,000 bbl from the prior week and 64,000 higher than the same week last year.

East Coast jet fuel inventories eased by 100,000 bbl to 9.2 million bbl and were 1.5 million bbl lower than the volume reported in the same week last year. This came despite reduced flight capacity in the region. Due to a shortage in air traffic controllers, the Federal Aviation Administration reported last week that it cut all U.S. air traffic by around 10%, in a move anticipated to have particularly impacted the East Coast – a region that experiences heavier air travel compared to others.

The East Coast also reported 129,000 bpd in jet fuel imports, down by 24,000 bpd from 153,000 bpd the previous week.

Crude oil inventories in PADD 1 rose by 200,000 bbl to 8.3 million bbl in the week ending November 7, compared with 7.7 million bbl reported during the same week last year.

EIA: U.S. Crude Stocks Up 6.4M Bbl on Week, Fuels Down

U.S. commercial crude oil inventories rose during the week ended November 7, while gasoline and distillate fuel oil stocks declined, the Energy Information Administration reported Thursday (11/13).

Commercial crude stocks increased by 6.4 million bbl to 427.6 million bbl, following the prior week’s build of 5.2 million bbl, the EIA said in its Weekly Petroleum Status Report, whose publication was delayed by a day due to Tuesday’s Veterans Day holiday.

The EIA’s latest weekly report on U.S. crude inventories put stockpiles at 2.2 million bbl, or 0.5%, below year-ago levels.

Stocks at Cushing, Oklahoma, the delivery point for NYMEX West Texas Intermediate futures, retreated by 400,000 bbl to 22.5 million bbl in the reference period, after the prior weekly build of 300,000 bbl.

Distillate fuel oil inventories fell by 600,000 bbl to 110.9 million bbl  in the week ending November 7, after posting a similar volume of decline the week before. Stocks are now 4.3 million bbl below the same period last year, with most of the draw occurring in low-sulfur grades.

Total motor gasoline inventories fell by 900,000 bbl to 205.1 million bbl in the profiled week, following a 4.7 million bbl slump in the prior week. Blending components accounted for most of the decrease, dropping by 1.2 million bbl to 190.2 million bbl, while conventional gasoline edged up by 200,000 bbl to 14.8 million bbl.

Refinery utilization stood at 89.4%  of capacity, up 3.4 percentage points from the prior week. Crude runs averaged 15.26 million bpd, up 740,000 bpd week-on-week.

Crude exports averaged 2.8 million bpd, down 1.6 million bpd from the previous week, while crude imports fell by 702,000 bpd to 5.2 million bpd.

Total products supplied over the last four weeks averaged 20.77 million bpd, down 813,000 bpd from the same period a year ago. Gasoline demand averaged 9.028 million bpd last week, down 3.8% year-on-year while distillate demand averaged 4 million bpd, down 2% year-on-year.

EIA: Propane/Propylene Stockpiles Rise 4.6% On Year

The Energy Information Administration reported on Thursday (11/13) total domestic propane/propylene stocks of 105.403 million bbl in the week ending November 7, down 691,000 bbl week-on-week and 4.894 million bbl, or 4.6% higher than in the same week last year.

Data show propane/propylene exports last week averaged 1.929 million bpd, down 35,000 bpd week-on-week and 360,000 bpd, or 18.7%, lower than in the same week last year.

Implied demand for propane/propylene in the United States averaged 1.158 million bpd, up 214,000 bpd week-on-week and 448,000 bpd, or 38.7% higher than in the same week last year.

EIA reports domestic propane/propylene production averaged 2.873 million bpd, up 22,000 bpd week-on-week and 130,000 bpd, or 4.5% higher than in the same week last year.

East Coast PADD 1 inventories ended the week at 8.631 million bbl, down 1.087 million bbl week-on-week and 225,000 bbl, or 2.6% higher than in the same week last year.

Midwest PADD 2 inventories ended the week at 28.01 million bbl, up 119,000 bbl week-on-week and 894,000 bbl, or 3.2% lower than in the same week last year.

Gulf Coast PADD 3 inventories ended the week at 63.267 million bbl, up 148,000 bbl week-on-week and 6.181 million bbl, or 9.8% 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 5.495 million bbl, up 129,000 bbl week-on-week and 619,000 bbl, or 11.3% lower than in the same week last year.

U.S. Ethanol Output Falls, Stocks Up 0.8% on Year

The Energy Information Administration reported on Thursday (11/13) that overall ethanol production in the United States averaged 1.075 million bpd, down 48,000 bpd week-on-week and 30,000 bpd, or 2.8% lower than in the same week last year. Four-week average output at 1.1 million bpd was 5,000 bpd above the same four weeks last year.

Midwest ethanol production averaged 1.014 million bpd, down 47,000 bpd week-on-week and 28,000 bpd, or 2.8% lower than in the same week last year. Four-week average output at 1.04 million bpd was 8,000 bpd above the same four weeks last year.

Ethanol blending activity in the U.S. averaged 895,000 bpd, down 9,000 bpd week-on-week and 23,000 bpd, or 2.6% lower than in the same week last year. Four-week average blending demand at 905,000 bpd was 11,000 bpd below the same four weeks last year.

Blender inputs at the East Coast were down 4,000 bpd on the week while inputs in the Midwest were down 3,000 bpd, up 1,000 bpd on the Gulf Coast and down 1,000 bpd on the West Coast.

Domestic ethanol inventories ended the week at 22.219 million bbl, down 436,000 bbl week-on-week and 199,000 bbl, or 0.9% higher than in the same week last year.

East Coast PADD 1 inventories ended the week at 6.642 million bbl, up 146,000 bbl week-on-week and 224,000 bbl, or 3.4% lower than in the same week last year.

Midwest PADD 2 inventories ended the week at 8.975 million bbl, down 176,000 bbl week-on-week and 317,000 bbl, or 3.5% higher than in the same week last year.

Gulf Coast PADD 3 inventories ended the week at 3.882 million bbl, down 284,000 bbl week-on-week and 183,000 bbl, or 4.7% lower than in the same week last year.

West Coast PADD 5 inventories ended the week at 2.361 million bbl, down 121,000 bbl week-on-week and 286,000 bbl, or 12.1% higher than in the same week last year.

BTS: Sep Freight Shipments Dip 2.1% on Month, 1.2% on Year

The Freight Transportation Services Index, which is based on the amount of freight carried by the for-hire transportation industry, dipped 2.1% month-on-month to 136.2 in September, the Bureau of Transportation Statistics (BTS) at the U.S. Department of Transportation said Thursday (11/13).

On a yearly basis, the index fell 1.2%.

In August, the index eased 0.1% for the month while remaining flat on the year.

In its latest release, BTS revised the August freight index to 139.1 from the earlier reading of 138.9.

The agency noted that September’s decline reflected decreases in air freight, rail carloads, rail intermodal and trucking activity, and increases in pipeline and waterborne movements.

The September decrease coincided with flat readings for many other indicators. While the Institute for Supply Management Manufacturing index registered a 0.4% rise for the month, there was no change in the Federal Reserve Board Industrial Production Index that had subsets for manufacturing, mining and utilities. Also maintaining status quo were indicators for housing starts, retails sales and personal income.

The Passenger Transportation Services Index, meanwhile, declined 2.9% month-on-month and 1.1% year-on-year in September. In August, the index – which measures passenger transportation volumes on local transit, intercity rail and air transportation – rose 0.6% on the month and 1.4% on the year.

The Combined Freight and Passenger Index also slipped, down 2.3% from August and 1.1% from a year ago. BTS estimates air freight and air passenger readings one month ahead of reported data.