MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for December 9th

Updated at 5:00 PM ET 

HEADLINES:

— API: U.S. Crude Stocks Fall; Gasoline, Distillates Build

— EIA: Revises Henry Hub Spot Price Up 10% From Nov. STEO

— Hess Midstream Forecasts 2026 Gas Volume at 450-460 MMcfd

— ExxonMobil Sees 5.5M Bpd by 2030

— EIA: U.S. Retail Gasoline Average Falls 4.5cts on Week

— EIA: U.S. Retail Diesel Prices Down 9.3cts on Week

NEWS:

API: U.S. Crude Stocks Fall; Gasoline, Distillates Build

U.S. crude oil inventories declined last week, extending the prior week’s draw, while gasoline and distillate stockpiles increased, according to American Petroleum Institute (API) data released late Tuesday (12/9).

U.S. commercial crude oil stocks fell by 4.8 million bbl during the week ended December 5, according to API data. The decline follows the prior weekly drop of 2.48 million bbl reported by API.

The crude draw for the profiled week accompanied an 890,000 bbl drop at the Cushing, Oklahoma delivery point for NYMEX West Texas Intermediate futures, matching the prior week’s decline at the hub.

Gasoline inventories surged by 7 million bbl, following a 3.1 million bbl build the prior week.

Distillate fuel oil stocks rose by 1 million bbl, after the previous weekly increase of 2.88 million bbl.

EIA: Revises Henry Hub Spot Price Up 10% From Nov. STEO

The Energy Information Administration has raised its natural gas price outlook on expectations that colder early-winter weather and stronger heating demand will lift U.S. benchmark prices, the agency’s Short-Term Energy Outlook (STEO) released Tuesday (12/9) showed. 

The Henry Hub spot price, which averaged about $2.19/MMBtu in 2024, is forecast to average almost $4.30/MMBtu this winter (November–March), up 10%, or more than 40 cents, above the November STEO estimate. The upward revision reflects colder-than-expected December temperatures that increased natural gas consumption for space heating, the latest STEO report indicated. 

U.S. natural gas storage entered winter 4% above the prior five-year average, supported by high production levels and relatively modest early-season withdrawals. By the end of March 2026, inventories are expected to stand around 2,000 Bcf, or 9% above the five-year average. 

“Colder weather at the start of winter increased residential and commercial consumption, prompting larger-than-average withdrawals in December,” the latest STEO report noted. “Although we expect milder weather in early 2026, elevated heating demand in December raises our winter price forecast.” 

The EIA projected that the Henry Hub price will average about $4/MMBtu in 2026, easing from winter highs as production rises. U.S. dry natural gas output is forecast to average 109 Bcfd next year, up 1% from 2025, with higher production tied to strengthened natural gas-to-oil ratios in the Permian Basin. 

U.S. marketed natural gas production is expected to reach 117–118 Bcfd in 2025–26, while LNG exports climb, keeping the United States positioned as the world’s top supplier.

The EIA expects U.S. LNG exports to rise from 12 Bcfd in 2024 to 16 Bcfd by 2026, supported by new liquefaction capacity coming online.

Hess Midstream Forecasts 2026 Gas Volume at 450-460 MMcfd

Hess Midstream announced Tuesday (12/9) that gas gathering volumes will average 450 to 460 million cubic feet per day (MMcfd) in 2026, driven by demand from primary customer Chevron in the Bakken shale.

The projection reflects Chevron’s commitment to operating a three-rig program in the Bakken, with gas processing volumes expected to average 435 to 445 MMcfd for full year 2026, Hess said.

In the liquids stream, crude oil gathering volumes are anticipated to average 115,000 to 125,000 bpd while crude oil terminaling volumes are expected to average 125,000 to 135,000 bpd.

Hess forecasts an approximate 1.5% growth in annualized gas throughput volumes and relatively flat throughput volumes for oil from 2026 through 2028.

The outlook is consistent with Chevron’s plan to maintain Bakken production at approximately 200,000 bpd, Hess added. Throughout this period, Hess plans to maintain third-party volumes at an average of 10% of total throughput across both its oil and gas systems.

ExxonMobil Sees 5.5M Bpd by 2030

ExxonMobil expects its total upstream production to reach 5.5 million bpd by 2030, the oil major said in an updated corporate outlook Tuesday (12/9) that set a new $25 billion target in earnings growth by end of the decade — up by $5 billion from before.

The company said its “advantaged assets” — the Permian, Guyana, and LNG — will remain central to growth. By 2030, production from these assets is expected to reach nearly 3.7 million oil-equivalent barrels per day, representing approximately 65% of total volumes. This concentration on high-return regions drives both volume increases and profitability, ExxonMobil said.

The Permian Basin itself is expected to double production to 2.5 million bpd by 2030, a projection supported by the acquisition of Pioneer Natural Resources. This integration is forecast to yield $4 billion more annually in synergies, making up the bulk of the higher earnings forecast, according to the company.

EIA: U.S. Retail Gasoline Average Falls 4.5cts on Week

The national average for retail regular gasoline declined in the week ended December 8, with decreases across every major U.S. region, data from the Energy Information Administration showed Tuesday (12/9).

The U.S. average for regular gasoline fell by 4.5cts to $2.94 gallon last week, standing 6.8cts lower from the same week last year, the EIA’s weekly update on fuel pricing showed.

East Coast (PADD 1) gasoline slipped 3.9cts to $2.892 gallon in the week ended December 8, while sitting 10.7cts lower than the same period last year.

Within the East Coast, New England (PADD 1A) decreased 2.7cts to $2.944 gallon week over week and was 4.6cts lower year-on-year.

Central Atlantic (PADD 1B) gasoline prices dropped 5.1cts to $3.035 gallon last week, while standing 8.1cts lower than the same week last year.

Lower Atlantic (PADD 1C) gasoline prices dipped 3.5cts to $2.789 gallon in the profiled week and were 13.6cts lower than the previous year.

Midwest (PADD 2) prices eased 2cts to $2.72 gallon, standing 8.8cts below the same period of the year-ago level.

Prices for the same product in the Gulf Coast (PADD 3) declined 5.8cts to $2.493 gallon, standing 11cts lower than last year.

Rocky Mountain (PADD 4) gasoline tumbled by 13.9cts to $2.644 gallon in the reference week, standing 14.2cts lower year-on-year.

West Coast (PADD 5) gasoline prices slid 7.5cts to $3.956 gallon, but stood 12.9cts higher than the corresponding week of last year.

Gasoline prices at West Coast less California decreased 6.4cts to $3.608 gallon, while standing 12.4cts higher year-on-year.

EIA: U.S. Retail Diesel Prices Down 9.3cts on Week

The national average price for retail diesel fuel fell by 9.3cts as of Monday (12/08) as decreases in all U.S. regions extended the prior week’s decline, according to pricing data from the Energy Information Administration (EIA) released Tuesday (12/09).

The national average for retail diesel fuel was at $3.665 gallon last week, but that was still 20.7cts higher than the same period a year earlier, EIA data showed.

In the Midwest (PADD 2), diesel prices dropped by 12cts to $3.635 gallon in the week ended December 8, posting the largest weekly decline among all PADD regions, while standing 21cts higher than the same week last year.

The East Coast (PADD 1) saw average diesel prices move lower by 5.6cts to $3.729 gallon as of December 8, while staying 19.4cts above the same period last year.

On the East Coast as well, weekly diesel prices in New England (PADD 1A) eased by 0.9cts to $4.04 gallon, while staying up 28.5cts year on year.

In the Central Atlantic (PADD 1B), diesel slipped by 3.4cts to $3.948 gallon, while being 19.8cts higher on the year. In the Lower Atlantic (PADD 1C), it fell by 7cts to $3.617 gallon, while remaining up 18.5cts year on year.

In the Gulf Coast (PADD 3), weekly average diesel prices declined by 8.8cts to $3.327 gallon, while holding 19.7cts above levels from a year earlier.

The Rocky Mountain region (PADD 4) dropped by 16.7cts to $3.498 gallon, while remaining 16.9cts above the same period last year.

West Coast (PADD 5) weekly average diesel prices fell by 7.1cts to $4.37 gallon, marking a 25.1cts year on year rise.

Diesel prices at West Coast less California decreased by 8.2cts to $3.944 gallon last week, while being 26.2cts above levels from a year earlier.

California retail diesel prices declined by 5.7cts to $4.862 gallon on the week but stood 23.9cts higher year on year.