MARKETWIRE ALERTS

MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for September 3^rd   

Updated at 5:00 PM ET 

HEADLINES:

–API: Crude, Distillate Stocks Rise; Gasoline Falls

— Chevron El Segundo Refinery Reports Flaring

— EIA: US Gasoline Rises; Gulf Coast Climbs 7.1cts

— EIA: USGC Diesel Prices Jump by 3.9cts on Week

NEWS:

API: Crude, Distillate Stocks Rise; Gasoline Falls

 The American Petroleum Institute on Wednesday reported a build in U.S. crude and distillate fuel inventories for the week ended August 29, while gasoline stocks saw a third consecutive weekly decline.

API reported U.S. commercial crude oil supply rose by 622,000 bbl, while inventories at Cushing, Oklahoma, the delivery point for NYMEX West Texas Intermediate futures, increased by 2.063 million bbl.

Gasoline inventories fell by 4.577 million bbl, marking the third straight weekly draw, while distillate fuel stocks rose 3.687 million bbl for the week.

Chevron El Segundo Refinery Reports Flaring

Chevron’s 290,000 bpd El Segundo refinery in California reported flaring beginning September 2 at 8:01 p.m. PT due to planned maintenance, according to a filing with the South Coast Air Quality Management District.
The company initially estimated the incident would end September 2 at 12:00 p.m. PT, but regulators noted flaring activity is still ongoing. Chevron did not immediately respond to a request for comment.

EIA: US Gasoline Rises; Gulf Coast Climbs 7.1cts

The national average price for retail regular gasoline rose for a third straight week as of Monday (9/1), led by increases on the Gulf Coast and West Coast, according to the latest data from the Energy Information Administration.

The national average for retail regular gasoline increased by 3.0cts to $3.177 gallon, 11.2cts lower than the same week in 2024.

The Gulf Coast PADD 3 average climbed by 7.1cts to $2.765 gallon, just 0.7cts below levels in the corresponding week of 2024.

The West Coast PADD 5 average increased by 4.2cts to $4.148 gallon, 4.7cts higher compared with the same week in 2024. West Coast less California also rose, up by 3.9cts to $3.877 gallon, 11.5cts above the year-ago level.
The East Coast PADD 1 average increased by 2.5cts to $3.012 gallon. Within the region, New England PADD 1A climbed by 0.8cts to $3.070 gallon, Central Atlantic PADD 1B rose by 2.4cts to $3.150 gallon, and Lower Atlantic PADD 1C gained by 3.0cts to $2.912 gallon.
The Midwest PADD 2 price increased by 1.1cts to $3.088 gallon, 8.3cts under the same week in 2024.
Rocky Mountain PADD 4 increased by 2.5cts to $3.183 gallon, 21.8cts lower than the same period last year.

EIA: USGC Diesel Prices Jump by 3.9cts on Week

The national average price for retail diesel fuel climbed for the first time in five weeks as of Monday (9/1), with the steepest increase on the US Gulf Coast, according to the latest data from the Energy Information Administration.

The national average for retail diesel fuel rose by 2.6cts to $3.734 gallon, 10.9cts above the same week last year.

Gulf Coast PADD 3 posted the sharpest regional gain, up by 3.9cts to $3.367 gallon as of September 1, 10.2cts above the same period of the previous year.

Midwest PADD 2 diesel price added 2.4cts to $3.722 gallon, 10.9cts higher than the same time of the prior year.

West Coast PADD 5 diesel prices increased by 2.3cts to $4.484 gallon as of Monday, 19.1cts above the same period of the prior year. Meanwhile West Coast less California advanced by 0.9cts to $4.112 gallon, up by 21.6cts from the same week last year. California jumped by 4.1cts to $4.914 gallon, 16.5cts higher year-over-year.

The East Coast PADD 1 average diesel price gained 2.4cts to $3.750 gallon as of September 1, 6.4cts above the same period of the prior year. New England PADD 1A fell by 2.0cts to $3.948 gallon in the same reference period, Central Atlantic PADD 1B eased by 0.4cts to $3.912 gallon, and Lower Atlantic PADD 1C rose by 3.8cts to $3.669 gallon.

Rocky Mountain PADD 4 inched up 0.5cts to $3.753 gallon, an increase of 16.3cts year-over-year.