MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for January 7th:

Updated at 5:00 PM ET 

HEADLINES:

— Wright: U.S. Indefinitely Controls Venezuela Oil Sales

— EIA: PADD 3 Gasoline Stocks Climb to a 5-Year High Last Wk

— EIA: Retail Gasoline Prices Saw Multi-Year Decline in 2025

— AAR: Petroleum Carloads Down 6.5% for Week to Jan. 3

— BLS: U.S. Nov Job Openings at 7.146M vs October’s 7.449M

— EIA: PADD 1 Distillate Inventories at Nearly 1-Year High on Week  

— EIA: PADD 5 Gasoline Hit 19-Wk High Last Week

— EIA: Propane/Propylene Stocks Down on Wk, Up 19% on Yr

— EIA: U.S. Ethanol Output Drops, Stocks Down 2.1% on Year

— Analysis: EIA: Gasoline Stock Rebuilding Not Slowing Down

— EIA: Crude Stocks Fall for Second Week, Products Build

— Corteva, BP Launch Biofuel Feedstock Venture

— Trump: U.S. to Get Up to 50M Bbl of Venezuelan Oil

NEWS:

Wright: U.S. Indefinitely Controls Venezuela Oil Sales

Wright: U.S. Indefinitely Controls Vene

01/07/2026 14:03

SECAUCUS, NJ (DTN) – The United States will indefinitely control the sale of Venezuelan oil, Energy Secretary Chris Wright said Wednesday (1/6) in the wake of U.S. President Donald Trump’s announcement that the U.S. intends to take possession of up to 50 million bbls of the OPEC nation’s supply.

Media reports quoted Wright as saying that the U.S. will be marketing the crude coming out of Venezuela. “Indefinitely, going forward, we will sell the production that comes out of Venezuela into the marketplace,” CNBC quoted him as saying at a energy conference hosted by Goldman Sachs in Miami.

U.S. President Donald Trump wrote in a social media post late on Tuesday (1/6) that Venezuela would relinquish as many as 50 million barrels of oil to the U.S. in an arrangement that would benefit both countries. Since Sunday (1/4), the Trump administration has said it would be running Venezuela and the South American country’s oil after the capture of Venezuelan president Nicolas Maduro by U.S. forces.

The 50 million bbl of Venezuelan oil cited by Trump would represent about 30 to 50 days of production, given that country’s current output of around 1 million bpd output estimated by OPEC. Venezuelan oil on board of storage ships would be brought directly to unloading docks in the U.S., the president added.

Venezuela has a backlog of unshipped volumes piling up in storage tanks and aboard contracted vessels since a U.S. blockade that began in early December.

Media reports on Wednesday said the U.S. had seized a tanker carrying Venezuelan oil in the Atlantic, the third such seizure since last month.

Reports also said that Trump was due to meet U.S. oil executives on Friday (1/9) for further discussions on Venezuela.

EIA: PADD 3 Gasoline Stocks Climb to a 5-Year High Last Wk

U.S. Gulf Coast (PADD 3) gasoline inventories continued to build, reaching multi-year highs in the week ended January 2, while distillate and jet fuel stocks remained high as well, according to Energy Information Administration data released Wednesday (1/7).

Motor gasoline inventories in the Gulf Coast region rose by 2.3 million bbl to 93.3 million bbl week-over-week. The highest build since January 24,2020 when it was at 95.781 million bbl, the same data showed. Gasoline stocks were also 7.9 million bbl higher than the volume recorded in the same week of last year.

The region saw zero gasoline imports and was flat week-over-week. However, it was below 30,000 bpd recorded in the same week of 2025.

Jet fuel inventories on the Gulf Coast climbed by 1 million bbl to 16 million bbl on a weekly basis and were 2.9 million bbl above the same week of the prior year.

Distillate fuel oil stocks in PADD 3 rose by 400,000 bbl to 50.1 million bbl on a weekly basis. This was 9 million bbl increase year-over-year, the EIA reported.

As a net exporter of distillates and jet fuel, USGC PADD 3 does not report imports of those products.

The largest build in PADD 3 last week was due to an increase in refining utilization in the reference week, as it was at 98.6% compared to 97.8% the prior week.

Weak demand and ample supply fundamentals kept USGC fuel prices the most competitive nationwide last week. Average retail gasoline prices in PADD 3 declined by 5.3cts from the previous week and were 42.1cts lower than the national average of $2.811 gallon, according to EIA data released Tuesday (12/30).

Diesel retail prices also fell by 3cts to average $3.184 gallon last week; 31.6cts below the nationwide average of $3.50 gallon.

Gulf Coast gasoline prices fell by 1.8cts to $2.372 gallon last week, which was steeper than the national average price drop of 1.5cts to end at $2.796 gallon.  Prices in the region continued their downward trade during the traditional low driving season. On diesel, USGC PADD 3 retail prices also declined by 1.2cts to $3.172 gallon last week, compared to the national average of $3.477 gallon, according to EIA data.

EIA: Retail Gasoline Prices Saw Multi-Year Decline in 2025

U.S. retail gasoline prices reached multi-year declines in 2025, with drivers paying an average of $3.10 per gallon for regular grade fuel, down 21 cents from 2024, according to data from the Energy Information Administration.

The decrease marked the third straight year of falling nominal gasoline prices, underscoring how shifts in the global oil market continued to shape fuel costs at the pump.

Lower crude oil prices were the primary driver behind the drop. Crude typically accounts for the largest share of gasoline prices, and oil markets spent much of the first half of 2025 under pressure from oversupply concerns and a softer global economic outlook that restrained demand. Those factors affected benchmark crude prices and filtered through to retail gasoline values nationwide, the EIA said.

The downward trend followed the sharp run up seen earlier in the decade. Gasoline prices have eased each year since 2022, when inflation adjusted prices surged to their highest levels since 2014. Petroleum markets tightened in 2022 in the wake of Russia’s invasion of Ukraine in February that year, and as fuel consumption recovered after the demand destruction caused by the 2020/21 coronavirus outbreak.

Since 2022, the peak for gasoline pump prices in the U.S. has also been lower. The April 2025 national average high of $3.24 for a gallon was still lower than the 2024 peak of $3.67.

As in the prior year, that peak arrived before the summer driving season, which typically coincides with the highest annual prices as fuel demand rises.

Instead of rising in the summer, gasoline prices softened through much of the 2025 second half and into end of year. The national average slid to an annual low of $2.81 per gallon by late-December as crude prices remained subdued, and refining margins narrowed toward the end of November, according to the EIA.

Memorial Day prices, often viewed as a barometer for summer travel costs, were the lowest in real terms since 2020.

Steady demand for gasoline, however, helped limit the downside in prices. U.S. gasoline consumption in 2025 edged down by less than 1% from the previous year on an annual average basis. That modest decline, paired with a slight increase in net exports, left inventories broadly in line with 2024 levels.

Tighter global refining conditions also briefly reversed the trend of falling prices late last year. In September, gasoline prices rose above year-ago levels for the first time due to supply tightness.

Such supply conditions persisted through October and November as stronger refining margins kept prices near parity with 2024 heading into Thanksgiving.

Still, regional differences remained pronounced for gasoline pump prices across the U.S. Annual average regular grade gasoline prices ranged from $2.39 per gallon along the Gulf Coast to $4.32 per gallon on the West Coast, reflecting variations in local supply balances, fuel specifications, and state taxes, EIA data showed.

AAR: Petroleum Carloads Down 6.5% for Week to Jan. 3

The Association of American Railroads (AAR) data show petroleum and petroleum product carloads totaled 10,146 in the week ending January 3, down by 6.5% from the same week a year ago.

Year to date, petroleum and petroleum products carloads totaled 538,048, down 1.6% from the corresponding period of the prior year, an AAR report published on Wednesday (1/7) showed.

Total U.S. weekly rail traffic at 404,293 carloads and intermodal units in the week profiled was down 4% when compared with the same week last year.

Total carloads for the week ended January 3 reached 192,665, down 2.8% compared to the same week last year, while U.S. weekly intermodal volume was 211,628 containers and trailers, a 5.1% decrease from the previous year.

For the cumulative 53 weeks since the start of 2025, U.S. railroads reported a volume of 11,508,797 carloads, up 1.5% on the year. Intermodal units totaled 14,055,633, also up 1.5% from the prior year.

Total combined U.S. traffic for the 53 weeks was 25,564,430 carloads and intermodal units, another 1.5% increase on last year.

BLS: U.S. Nov Job Openings at 7.146M vs October’s 7.449M

The United States had 7.146 million jobs openings in November, the US Bureau of Labor Statistics (BLS) said Wednesday (1/7), reporting a number well below the prior month as well as Wall Street’s estimates.

November job openings were lower than the 7.449 million which the BLS reported for October.

The latest number was also below the 7.61 million that Wall Street economists had forecast for November.

The BLS’ Job Openings and Labor Turnover Survey measures job vacancies across the country and takes into account all positions that are open and not filled on the last business day of the month.

The lower-than-expected number of job openings suggests a slower pace of job growth.

The BLS is due to report the more important December non-farm payrolls report on Friday (1/9). For November, the agency reported non-farm payrolls at 64,000 higher than in October.

EIA: PADD 1 Distillate Inventories at Nearly 1-Year High on Week

East Coast (PADD 1) inventories for gasoline, jet fuel and distillates  increased in the week ending January 3, while crude oil inventories moved slightly lower, U.S. Energy Information Administration data released Wednesday (1/7) showed.

Regional distillate fuel oil inventories increased by 1.8 million bbl, but still to 32.9 million bbl during the reported week, the highest level reported since week ended Jan.24, roughly an 11-month high, thought stocks remained below 37.2 million bbl reported in the same week last year. Retail diesel prices eased alongside the inventory move, with East Coast diesel averaging $3.630 gallon in the week ended Jan. 5, down by 1.5cts on the week and 0.4ct below the same period last year.

PADD 1 gasoline stocks increased to 53.6 million bbl in the reference week, compared with 58.9 million bbl in the same week last year. The build followed a pullback from the prior report that marked the highest level since the week ended Aug. 1. Despite the recent strength, gasoline inventories remained below levels a year earlier, reflecting a comparatively tighter supply structure. That dynamic has continued to lend underlying support to prices even as retail values softened, with East Coast gasoline averaging $2.778 gallon in the week ended Jan. 5, down by 0.3ct on the week and 21.2cts below the same period last year.

Jet fuel inventories in PADD 1 rose to 9.8 million bbl, up from the prior week but below the 10.3 million bbl reported in the same week last year, providing limited near-term relief following seasonal draws earlier in the winter period.

Crude oil inventories in PADD 1 edged lower to 7.4 million bbl and remained below the 8.1 million bbl reported in the same week last year.

PADD 1 crude imports rose to 1.705 million during the reference week, compared with 1.220 million bdp in the week last year according to EIA data.

EIA: PADD 5 Gasoline Hit 19-Wk High Last Week

U.S. West Coast (PADD 5) gasoline inventories hit a 19-week high last week, while distillate inventories also increased, crude oil stocks declined and jet fuel inventories edged lower in the week ending January 2, according to Energy Information Administration data released Wednesday (1/7).

Motor gasoline inventories in the West Coast region amounted to 31.3 million bbl in the reference week, 1.7 million bbl higher than the prior week and the highest volume reported since August 22, 2025 when stocks stood at 31.5 million bbl, EIA data showed. Inventories were also up by 1.2 million bbl compared to the same week last year. Gasoline imports in the region amounted to 16,000 bpd in the reference week versus 144,000 bpd last week but were lower by 5,000 bpd when compared with the same week of the prior year.

Distillate fuel oil stocks in PADD 5 grew by 800,000 bbl to 12.4 million bbl week-over-week. Inventories of the same product were 100,000 bbl below year-ago levels. Distillate imports were zero, compared to 3,000 bpd last week and 7,000 bpd in the same week last year.

In contrast, crude oil inventories on the West Coast fell by 600,000 bbl to 46.9 million bbl on a weekly basis and were higher than year-ago levels by 100,000 bbl. Crude oil imports into PADD 5 averaged 1.047 million bpd in the reference week, up from 909,000 bpd the prior week but below the 1.199 million reported during the same week last year.

Jet fuel inventories in PADD 5 slipped by 100,000 bbl to 11.2 million bbl last week and were 700,000 bbl lower than the same week last year. Jet fuel imports averaged 34,000 bpd in the reference week compared to the prior week’s zero level and 131,000 bpd from a year ago.

Oversupplied fuel storages nationwide continued to weigh on retail pricing. West Coast regular gasoline prices declined by 2.3cts to average $3.708 gallon in the week ended January 5, standing 8.5cts below the same week last year, according to EIA data released Tuesday (1/6).

EIA: Propane/Propylene Stocks Down on Wk, Up 19% on Yr

The Energy Information Administration reported on Wednesday (1/7) total domestic propane/propylene stocks of 98.104 million bbl in the week ending January 2, down 2.22 million bbl week-on-week and 15.516 million bbl, or 18.8% higher than in the same week last year.

Data show propane/propylene exports last week averaged 1.876 million bpd, up 184,000 bpd week-on-week and 157,000 bpd, or 9.1%, higher than in the same week last year.
Implied demand for propane/propylene in the United States averaged 1.418 million bpd, up 194,000 bpd week-on-week and 18,000 bpd, or 1.3% lower than in the same week last year.

EIA reports domestic propane/propylene production averaged 2.826 million bpd, down 27,000 bpd week-on-week and 156,000 bpd, or 5.8% higher than in the same week last year.
East Coast PADD 1 inventories ended the week at 6.809 million bbl, down 924,000 bbl week-on-week and 61,000 bbl, or 0.9% higher than in the same week last year.
Midwest PADD 2 inventories ended the week at 23.306 million bbl, down 333,000 bbl week-on-week and 1.459 million bbl, or 6.7% higher than in the same week last year.
Gulf Coast PADD 3 inventories ended the week at 63.157 million bbl, down 818,000 bbl week-on-week and 13.659 million bbl, or 27.6% 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 4.832 million bbl, down 144,000 bbl week-on-week and 336,000 bbl, or 7.5% higher than in the same week last year.

EIA: U.S. Ethanol Output Drops, Stocks Down 2.1% on Year

The Energy Information Administration reported on Wednesday (1/7) that overall ethanol production in the United States averaged 1.098 million bpd, down 22,000 bpd week-on-week and 4,000 bpd, or 0.4% lower than in the same week last year. Four-week average output at 1.111 million bpd was 5,000 bpd above the same four weeks last year.

Midwest ethanol production averaged 1.041 million bpd, down 22,000 bpd week-on-week and 2,000 bpd, or 0.2% lower than in the same week last year. Four-week average output at 1.055 million bpd was 8,000 bpd above the same four weeks last year.

Ethanol blending activity in the U.S. averaged 771,000 bpd, down 117,000 bpd week-on-week and 8,000 bpd, or 1% lower than in the same week last year. Four-week average blending demand at 869,000 bpd was 4,000 bpd above the same four weeks last year.

Blender inputs at the East Coast were down 38,000 bpd on the week while inputs in the Midwest were down 39,000 bpd, down 32,000 bpd on the Gulf Coast and down 6,000 bpd on the West Coast.

Domestic ethanol inventories ended the week at 23.652 million bbl, up 708,000 bbl week-on-week and 496,000 bbl, or 2.1% lower than in the same week last year.

East Coast PADD 1 inventories ended the week at 6.205 million bbl, up 46,000 bbl week-on-week and 562,000 bbl, or 8.3% lower than in the same week last year.

Midwest PADD 2 inventories ended the week at 10.83 million bbl, up 509,000 bbl week-on-week and 517,000 bbl, or 5% higher than in the same week last year.

Gulf Coast PADD 3 inventories ended the week at 3.891 million bbl, up 154,000 bbl week-on-week and 382,000 bbl, or 8.9% lower than in the same week last year.

West Coast PADD 5 inventories ended the week at 2.344 million bbl, down 15,000 bbl week-on-week and 71,000 bbl, or 2.9% lower than in the same week last year.

Analysis: EIA: Gasoline Stock Rebuilding Not Slowing Down

Domestic gasoline inventories continued to expand in line with seasonal norms, staying near the post-COVID record highs reached in early 2024, U.S. Energy Information Administration data revealed Wednesday (1/7).

The EIA reported total motor gasoline inventories expanding by 7.7 million bbl in the week ending January 2. At 242 million bbl, they were 1.8% higher than in the same reference week last year and 1.5% above the running three-year average.

Despite Americans driving more than ever – total vehicle miles traveled surpassed the pre-COVID peak for the first time in 2025 – this improvement wasn’t enough to offset the effects of EVs and engine efficiency cutting into petroleum gasoline demand. Finished motor gasoline supplied, a proxy measure for fuel consumption, is lagging year-ago levels by 311,000 bpd, or 3.7%, on the daily cumulative average.

At the same time, domestic gasoline production has been keeping pace with year-ago levels, a side effect of refiners maximizing operations in the fourth quarter to profit from high margins for middle distillates. Over the past four weeks, refiner and blender net production of finished motor gasoline has averaged 9.476 million bpd, up 0.7% year-on-year.

This, in turn, also led to near-record high gasoline exports from the United States. In the fourth quarter of 2025, they consistently outpaced year-ago levels by some 100,000 bpd. Over the past four weeks, however, they have fallen back in line with the pace observed a year earlier. Given sluggish domestic demand, cooling exports are likely to keep the growth rate of gasoline inventories elevated in the weeks to come.

EIA: Crude Stocks Fall for Second Week, Products Build

U.S. commercial crude oil inventories fell for a second consecutive week, while gasoline and distillate fuel oil stocks continued their builds, the Energy Information Administration (EIA) reported Wednesday (1/7).

Commercial crude stocks declined by 3.8 million bbl to 419.1 million during the week ended January 2, extending the 1.9-million decline of the prior week, the EIA said in its Weekly Petroleum Status Report.

With the weekly draw, U.S. crude inventories stood at 4.4 million bbl, or 1.1%, higher than levels a year earlier, the report showed.

Crude stockpiles at the Cushing, Oklahoma delivery point for NYMEX West Texas Intermediate futures, however, extended their growth, climbing by 700,000 bbl to 22.8 million after the prior week’s addition of 500,000 bbl.

Distillate fuel oil inventories rose by 5.6 million bbl to 129.3 million, supported by continuous increases across ultra-low sulfur and higher sulfur categories. In the previous week, distillates saw a build of 5 million.

Total motor gasoline inventories increased by 7.7 million bbl to 242 million during the reference week, adding to the prior week’s surplus of 5.8 million.

Blending components rose by 8 million bbl to 226.3 million, accounting for most of the increase, while conventional gasoline stocks slipped by 200,000 bbl to 15.8 million.

Refinery utilization was unchanged at 94.7% of operable capacity. Crude oil inputs to refineries averaged 16.9 million bpd, up fractionally from the previous week’s 16.8 million.

Crude oil exports averaged 4.26 million bpd, up by about 823,000 bpd from the previous week, while crude imports rose by 1.39 million bpd to 6.34 million bpd.

Total products supplied over the last four weeks averaged 19.23 million bpd, down by 2.8% from the same period a year earlier. Gasoline demand averaged 8.17 million bpd, lower by 3.7% from a year earlier, while distillate demand averaged 3.2 million bpd, up by 0.6% from the same period last year.

Corteva, BP Launch Biofuel Feedstock Venture

Corteva Inc. and BP announced Wednesday (1/7) the formation of a joint venture aimed at expanding oilseed feedstock supply for sustainable aviation fuel and renewable diesel production.

The venture, named Etlas, will focus on developing crops such as canola, mustard, and sunflower for use in biofuel refining. The companies said initial production is expected to begin in 2027, with longer term output targeted at roughly one million metric tonnes of feedstock annually by the mid-2030s.

Feedstock will be grown on existing cropland during periods between primary food crop cycles, a structure the companies said is intended to avoid additional land use while providing farmers with an additional revenue stream.

The companies said the venture will be led by Ignacio Conti as chief executive officer, with BP’s Gaurav Sonar serving as chair of the board.

The announcement follows growing policy support for sustainable aviation fuel in the U.S. and Europe, including tax credits and airline decarbonization targets aimed at increasing SAF use over the next decade.

Trump: U.S. to Get Up to 50M Bbl of Venezuelan Oil

U.S. President Donald Trump announced late on Tuesday (1/6) that the U.S. would receive as many as 50 million bbl of Venezuelan oil  as the Trump administration seeks to run the OPEC member country after the capture of its previous leader Nicolas Maduro by U.S. forces.

“I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America,” Trump said in a post uploaded to his Truth Social media site.

The volume cited by Trump would represent about 30 to 50 days of Venezuelan oil production, given the South American country 1 million bpd output estimated by OPEC.

Reuters reported that Venezuela’s flagship Merey crude trades about $22 bbl less than Brent, which currently hovers at $60 bbl. That puts the 50 million bbl cited by Trump at around $2 billion.

“This oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” Trump added in his post.

The U.S. president did not specify where the Venezuelan oil would come from. But Venezuela does have a backlog of unshipped volumes piling up in storage tanks and aboard contracted vessel since a U.S. blockade that began in early December.

Much of Venezuela’s oil has been exported to China in recent years as shipments averaged around 850,000 bpd, according to OPEC,  well below Venezuela’s peak production of 3.5 million bpd.

China’s foreign ministry spokesperson Mao Ning was quoted saying in an immediate response to Trump’s announcement that the U.S. action violated international law and Venezuelan sovereignty.