MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for September 18^th

Updated at 5:00 PM ET 

HEADLINES:

— CEC: California Gasoline Stocks Up 126K Bbl on Week

— CEC: California Diesel Stocks Rose 27k bbl

— EIA reports 90Bcf Injection into US NatGas Storage Last Wk

— Green Plains to Sell $40M-$50M in Clean Fuel Tax Credits

NEWS:

CEC: California Gasoline Stocks Up 126K Bbl on Week

California gasoline inventories, including blending components, increased in the week ending September 12, after recording draws for two consecutive weeks, with Northern California showing the largest movement, according to the California Energy Commission’s Weekly Fuels Report released Thursday (9/18).
Statewide gasoline inventories, including CARB, non-California grades, and blending components, climbed by 126,000 bbl to 11.692 million bbl in the reference week. This was 3.7% lower than the volume reported in the same period last year.
In Northern California, overall gasoline inventories rose by 244,000 bbl to 5.577 million bbl last week, a 1.4% increase year-over-year. CARB gasoline in the same region increased by 226,000 bbl to 3.429 million bbl, non-California gasoline climbed by 28,000 bbl to 220,000 bbl, while blending components edged down 10,000 bbl to 1.928 million bbl.
Southern California gasoline stocks fell by 118,000 bbl to 6.115 million bbl during the week ending September 12, a 7% decline compared to the same week of last year. CARB gasoline dropped by 27,000 bbl to 2.972 million bbl, non-California gasoline slipped 51,000 bbl to 734,000 bbl, and blending components decreased 40,000 bbl to 2.409 million bbl.

Production across the state also strengthened after the total gasoline output climbed by 436,000 bbl to 5.895 million bbl in the reference week, up 7.5% year-over-year.

Southern California led the gains increasing output by 316,000 bbl to 3.922 million bbl last week, a 2.5% rise compared to the same period last year. The increase was driven by a 299,000 bbl hike in CARB gasoline to 3.347 million bbl and a 17,000 bbl rise in non-California gasoline to 575,000 bbl.
Northern California output also increased, rising by 120,000 bbl to 1.973 million bbl as of last week, a 19% jump from the same period of last year. CARB gasoline production climbed by 357,000 bbl to 1.821 million bbl, while non-California gasoline dropped by 237,000 bbl to 152,000 bbl during the profiled week

CEC: California Diesel Stocks Rose 27k bbl

California total diesel inventories edged higher in the week ending September 12 with Northern California reporting the largest build, according to the California Energy Commission’s latest Weekly Fuels Report.
Statewide diesel inventories, including CARB and other grades, climbed by 27,000 bbl to 3.042 million bbl in the reference week, 2.8% down from the same period of last year.
In Northern California, overall diesel inventories rose by 66,000 bbl to 1.281 million bbl in the profiled week, 14% lower from the same week the previous year. The increase was led by CARB diesel, which climbed by 64,000 bbl to 773,000 bbl, while other diesel stocks added 2,000 bbl to 508,000 bbl.
Southern California diesel inventories fell by 39,000 bbl to 1.761 million bbl as of September 12, a 2% decline year-over-year. CARB diesel in that region dropped by 33,000 bbl to 843,000 bbl and other diesel supply slipped by 6,000 bbl to 918,000 bbl in the same period.
Production across the state moved lower as total diesel output dropped by 211,000 bbl to 1.468 million bbl week-on-week, a 7% increase compared to the same period of last year.
Southern California led the decline with production down by 198,000 bbl to 904,000 bbl, driven by a 151,000 bbl drop in CARB diesel to 343,000 bbl and a 47,000 bbl decrease in other diesel to 561,000 bbl.
Northern California output edged higher by 7,000 bbl to 564,000 bbl last week, a 49% increase from the volume reported during the same perio the prior year. CARB diesel production in the region rose by 231,000 bbl to 389,000 bbl, while other diesel fell by 244,000 bbl to 175,000 bbl.

EIA reports 90Bcf Injection into US NatGas Storage Last Wk

Energy Information Administration data released midmorning on Thursday (9/18) show a 90 billion cubic feet injection into U.S. natural gas storage to 3.433 trillion cubic feet in the week ended September 12.
Natural gas in U.S. storage is 0.1% lower than last year and 6.3% above the five-year average of 3.229 Tcf.
Regionally, EIA reports the East registered a 24 Bcf injection to 781 Bcf, 2.3% less than a year ago and 2.1% higher than the five-year average.
Natural gas in storage in the Midwest increased 30 Bcf week-on-week to 920 Bcf, a 5.2% deficit compared to the same week a year ago and 0.3% higher than the five-year average.
Mountain region natural gas in storage increased 4 Bcf, down 5.1% year-on-year to 20.8% above the five-year average.
South Central storage rose 29 Bcf to 1174 Bcf, 5.9% more than in the same week last year and 10.2% above the five-year average.

Green Plains to Sell $40M-$50M in Clean Fuel Tax Credits

Green Plains has signed an agreement with Freepoint Commodities to sell Clean Fuel Production Credits, or 45Z tax credits, generated in 2025 under the Inflation Reduction Act.

The deal is expected to generate between $40 and $50 million in earnings before interest, taxes, depreciation and amortization, with the first credits being recorded in the third quarter of this year, according to a company statement released Wednesday (9/17).

Initial credits will come from low-carbon intensity ethanol production at Green Plains’ three biorefining facilities in Nebraska.

A portion of the credits will be generated prior to the expected launch of carbon capture later this year, Green Plains CEO Chris Osowski said.

Green Plains has also signed a term sheet with Freepoint to monetize tax credits from three additional facilities expected to qualify under 45Z during 2025, Osowski said.