MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for September 30^th

Updated at 5:40 PM ET 

HEADLINES:

— U.S natural gas output at record high 3.348 bcf in July

— API: Crude Stocks Dip for ThirdWeek, Gasoline Climb on Wk

— U.S Revives Coal With $625M For Grid, Clean Tech Upgrade

— IATA: N. America Air Cargo Demand Dips 2.1% Y-o-Y in Aug

— EIA: U.S retail Regular Gasoline Price Dip 5.5 cts W-o-W

— CB: U.S Consumer Confidence Drops to 3mo Low In September

— EIA: US Diesel Prices Edge Up 0.5cts on Week

— BKV Spends $370M to Expand Barnett Shale Holding

NEWS:

U.S natural gas output at record high 3.348 bcf in July

U.S. dry natural gas production surged to an all-time high in July while overall domestic consumption edged lower, the Energy Information Administration said in a monthly report released Tuesday (9/30).

Preliminary dry natural gas production reached 3.348 bcf, translating to a daily rate of 108.0 bcfd, which was 3.7% higher than July 2024, marking the highest production level for any month since the EIA data tracking began in 1973.

The robust output drove gross withdrawals to a daily rate of 129.5 bcf/d – an increase of 3.2% over the previous year and the highest daily rate for the month since 1980.

Total net natural gas imports registered at -461 bcf or -14.9 bcf/d.

“This net import volume was the lowest for the month since we began tracking net imports in 1973, making the United States a net natural gas exporter,” the EIA report said.

Meanwhile, estimated natural gas consumption across the country decreased slightly by 0.5% from July 2024 to 88.3 bcf/d. This still represented the second-highest daily consumption rate for the month since the current methodology was adopted in 2001.

API: Crude Stocks Dip for Third Week, Gasoline Climb on Wk

The American Petroleum Institute on Tuesday (9/30) reported that U.S. crude inventories saw a third straight weekly draw during the week ended September 26, while gasoline and distillate fuel stocks increased.

U.S. commercial crude oil supply fell by 3.674 million bbl last week, while inventories at Cushing, Oklahoma, the delivery point for NYMEX West Texas Intermediate futures, declined by 693,000 bbl, according to API.

Gasoline inventories rose by 1.3 million bbl in the week ending September 26, following the prior week’s draw. Distillate fuel stocks increased by 3.003 million bbl for the week.

U.S Revives Coal With $625M For Grid, Clean Tech Upgrade

The U.S. Department of Energy has committed $625 million in new funding to upgrade the nation’s coal infrastructure, declaring the fuel essential for domestic energy security, industrial growth and technological supremacy.

“These funds will help keep our nation’s coal plants operating and will be vital to keeping electricity prices low and the lights on without interruption,” Energy Secretary Chris Wright said in a statement issued Monday (9/29). He added that “clean coal” was also “essential to powering America’s reindustrialization and winning the AI race”.

The bulk of the $625 million will be directed toward maintaining and extending the lifespans of existing coal-fired generating stations.

The largest single allocation of $350 million will be for “coal recommissioning and retrofit” projects aimed at demonstrating the readiness to modernize or restart existing coal power units to provide near-term electric reliability and capacity.

Another significant tranche of $175 million will be dedicated to “rural capacity and energy affordability projects”, designed to support coal power initiatives that directly benefit energy rural communities.

The balance $100 million has been earmarked for what the DOE calls “advanced efficiency and fuel flexibility”. Half of that will support development and implementation of advanced wastewater management systems to reduce operational costs and allow plants to extend their service life.

The other $50 milllion will be split between projects for dual firing retrofits and natural gas cofiring systems, both aimed at allowing coal plants to seamlessly switch between fuels to maintain full steam capacity and maximize economic flexibility.

IATA: N. America Air Cargo Demand Dips 2.1% Y-o-Y in Aug

North American air cargo demand fell more than 2% year-on-year in August, even as freight volumes elsewhere grew, as carriers and shippers navigated risks associated with U.S. trade and tariff policy, international air travel association IATA said Tuesday (9/30).

“Growth patterns indicate some being diverted away from North America, fueling stronger growth for the Europe – Asia, Within Asia, Africa–Asia, and Middle East–Asia trade lanes,” Willie Walsh, IATA’s director general, said in a statement.

“This adaptability is vital as shippers navigate the evolving landscape of U.S. tariff policy,” Walsh said.

Cargo tonne-kilometers (CTKs) for North American carriers fell 2.1% year-over-year in August, the IATA data showed .

The decline stands in stark opposition to the 4.1% growth registered across the global market, with key competitors like Asia-Pacific and Africa reporting near double-digit increases.

The slowdown in North America, which accounts for over a quarter of global air freight volume, was compounded by a shrinking load factor. Capacity, measured in available cargo tonne-kilometers, or ACTKs, was reduced by 1.0% in August. The region’s cargo load factor slid to 38.4%, a decline of 0.4 percentage points from a year prior.

The Asia–North America corridor, which dictates import volumes into the U.S. fell 2.2%, leading the region’s decline in freight volumes for a fourth consecutive month.

In contrast, the North America–Europe lane bucked the trend, rising a robust 7.8% — a streak of growth that has held for 19 consecutive months, indicating continued strong transatlantic movement, potentially driven by U.S. exports.

The sluggish performance in North America arrives amid persistent caution among global manufacturers, IATA noted.

While the U.S. Manufacturing PMI in August showed optimism, the sentiment regarding new export orders remained below the critical 50-point expansion threshold. This reflect the “persistent caution amid tariff uncertainty” that disproportionately impacts U.S.-bound trade, the travel association said.

EIA: U.S retail Regular Gasoline Price Dip 5.5 cts W-o-W

Retail regular gasoline prices fell in the week ended September 29, after declines in the Midwest and East Coast, latest data from the Energy Information Administration showed Tuesday (9/30).

The national average for retail regular gasoline fell by 5.5 cts to $3.118 gallon week-on-week and was 6.1 cts lower from the same week in 2024.

Midwest PADD 2 average gasoline prices declined 8cts to $2.928 gallon as of September 29, and were 17.7cts below the same period of last year.

East Coast PADD 1 gasoline price fell by 4.7cts to $2.983 gallon in the reference week, sliding 7.7cts year-on-year.

Within the region, New England PADD 1A  gasoline price fell 4.1cts to $3.034 gallon as of Monday, though they were higher by 1.5cts from the year-ago level.

Central Atlantic PADD 1B gasoline price was at $3.147 gallon on a weekly basis, down 4 cts on the week and 3.1cts lower year-on-year.

Lower Atlantic PADD 1C gasoline price fell by 5.4cts to $2.866 gallon as of Monday and were 12.9cts below the year-ago level.

Gulf Coast PADD 3 gasoline decreased 4.4cts to $2.672 gallon, and slid 2.3cts from the same week a year earlier.

Gasoline price in Rocky Mountain PADD 4 fell 7.4cts to $3.11 gallon, and remained 30.5cts below last year’s level.

West Coast PADD 5 gasoline slipped 3.4cts to $4.238 gallon as of September 29 but rose 19.6cts year-on-year.

West Coast less California gasoline price dropped 4.6cts to $4.013 gallon in the profiled week and was 36.4cts above the same week last year.

CB: U.S Consumer Confidence Drops to 3mo Low In September

U.S. consumer confidence fell in September, with the index dropping by 3.6 points to 94.2 from a revised 97.8 in August, according to the Conference Board report released Tuesday morning.

The Expectations Index, which reflects consumers’ short-term outlook for income, business, and labor market conditions, slid by 1.3 points to 73.4, remaining below the threshold of 80 that typically signals a recession ahead for the eight consecutive month.

The Present Situation Index, which measures consumers’ assessment of current business and labor market conditions, declined by 7.0 points to 125.4.

“Consumer confidence weakened in September, declining to the lowest level since April 2025,” said Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board. “The present situation component registered its largest drop in a year. Consumers’ assessment of business conditions was much less positive than in recent months, while their appraisal of current job availability fell for the ninth straight month to reach a new multiyear low. This is consistent with the decline in job openings. Expectations also weakened in September, but to a lesser extent. Consumers were a bit more pessimistic about future job availability and future business conditions but optimism about future income increased, mitigating the overall decline in the Expectations Index.”

The average 12-month inflation expectations eased slightly to 5.8% in September, down from 6.1% in August and well below the April peak of 7%.

The share of consumers expecting a recession over the next 12 months was stable in September, but more consumers thought a recession had already started.

EIA: US Diesel Prices Edge Up 0.5cts on Week

The national average price for retail diesel fuel inched higher for a second consecutive week as of Monday (9/29), with modest gains across most regions, according to the latest data from the Energy Information Administration.

The national average for retail diesel fuel rose by 0.5cts to $3.754 gallon. That was still 21.0cts above the pricing from the same week of last year.

Gulf Coast PADD 3 prices posted the largest regional move, rising by 1.3cts to $3.413 gallon, staying 20.1cts above 2024 levels.

East Coast PADD 1 average diesel price edged up by 0.5cts to $3.750 gallon as of September 29, priced 17.9cts higher compared to last year. New England PADD 1A was unchanged at $3.962 gallon in the same reference period, Central Atlantic PADD 1B declined by 0.6cts to $3.902 gallon, and Lower Atlantic PADD 1C gained by 0.9cts to $3.673 gallon.

Midwest PADD 2 held steady on the week at $3.731 gallon as of September 29. It remained 21.1cts above last year levels.

West Coast PADD 5 diesel rose by 0.8cts to $4.532 gallon, fetching 30.6cts above the same period of the prior year. Meanwhile, West Coast less California climbed by 2cts to $4.143 gallon, remaining up by 34.6cts compared to last year. California edged down by 0.4cts to $4.981 gallon, though still 26.2cts higher compared to last year.

Rocky Mountain PADD 4 declined by 1.5cts to $3.732 gallon, while showing an increase of 12cts compared to the same period of last year.

BKV Spends $370M to Expand Barnett Shale Holding

BKV Corp has completed its acquisition of assets from Bedrock Energy Partners for approximately $370 million, expanding its natural gas footprint in the Barnett Shale.

The deal involved the acquisition of all outstanding equity interests of Bedrock Production, along with 97,000 net acres directly offsetting BKV’s current assets, plus associated midstream infrastructure, the company said in a statement on Monday (9/29).

The acquired assets contribute approximately 108 Mcfed of production, according to figures for the quarter ending June 30, 2025. This production is roughly 63% natural gas.

Combining the complementary assets with BKV’s existing infrastructure solidifies the company’s position as the basin’s “dominant operator” and is expected to “create substantial value for our shareholders,” according to BKV CEO Chris Kalnin.

The new acreage includes 1,121 producing locations and an estimated 800 Bcfe of proved reserves, based on NYMEX strip pricing as of June 30, 2025. A key attraction is the low estimated one- and five-year base decline rates of approximately 7%.

Further boosting BKV’s development pipeline, the acquisition adds about 50 new drilling locations with 10,000-foot lateral equivalents. These new wells are projected to have accretive natural gas price break-evens compared to BKV’s existing inventory. The deal also includes 80 low-cost refrac locations for future development.

Denver-based BKV is one of the top 20 gas-weighted natural gas producers in the U.S. and the largest natural gas producer by gross operated volume in the Barnett Shale, according to the statement.