MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for September 10^th

Updated at 5:30 PM ET 

HEADLINES:

— EIA: East Coast Distillate Inventory Jumps 1.6M Bbl on Week

— EIA: PADD 2 Distillate Fuel Oil Stocks Rose 2.4M Bbl

— EIA: PADD 5 Sees First Distillate Stocks Rise in 4 Weeks 

— EIA: PADD 3 Gasoline Inventory Rises 600K bbl

— Analysis: EIA Reports Across-The-Board Inventory Builds

— EIA: Crude Up 3.9M Bbl, Distillates Build, Gasoline Higher

— EIA: US Ethanol Output Up 2.3%, Stocks Dip Y-o-Y

— EIA: Propane/Propylene Stocks Up 1.6% W/W

NEWS:

EIA: East Coast Distillate Inventory Jumps 1.6M Bbl on Week

East Coast PADD 1 distillate inventories rose in the week ending September 5. Gasoline stocks edged higher, while jet fuel supplies slipped slightly and crude oil inventories fell, according to U.S. Energy Information Administration data released on Wednesday (9/10).

PADD 1 distillate inventories increased by 1.6 million bbl to 30.3 million bbl in the week ending September 5, which is 6.9 million bbl lower than the 37.2 million bbl recorded in the same week of the previous year.

The region imported 267,000 bpd of distillates, slightly above 258,000 bpd the prior week, compared with 204,000 bpd last year.

PADD 1 gasoline stocks climbed by 200,000 bbl to 55.7 million bbl in the reference week, but were 5.3 million bbl below the 61.0 million bbl reported in the corresponding week of last year. Gasoline imports rose to 503,000 bpd, up from 411,000 bpd the prior week, but down from 548,000 bpd recorded in the same week of last year.

East Coast jet fuel inventories slipped by 100,000 bbl to 10.3 million bbl in the respective week. That was 1.9 million bbl below the 12.2 million bbl reported in the corresponding week of last year. Regional jet fuel imports declined to 72,000 bpd from 78,000 bpd week-over-week, compared with 84,000 bpd in the same period of the previous year.

Crude oil inventories in PADD 1 fell by 500,000 bbl to 7.2 million bbl in the week ending September 5, down from 7.9 million bbl reported during the same week of the prior year.

EIA: PADD 2 Distillate Fuel Oil Stocks Rose 2.4M Bbl

PADD 2 Midwest distillate fuel oil inventories saw a sizable build in the week ended September 5, while gasoline supplies rose modestly and regional crude oil stocks registered a draw, according to U.S. Energy Information Administration data released Wednesday (9/10).

PADD 2 distillate inventories increased by 2.4 million bbls to 30.6 million bbls in the profiled week, 1.7 million bbls below the comparable period of last year.

Midwest gasoline stocks rose by 600,000 bbls to 45.6 million bbls, which was 900,000 bbls below the volume reported during the same week of last year.

Gasoline imports in the same region totaled 14,000 bpd, up by 3,000 bpd week-on-week and 7,000 bpd year-on-year.

Midwest jet fuel inventories were steady at 7.6 million bbls, unchanged from the prior week and slightly below the 8.0 million bbls reported in the same week last year. PADD 2 again registered no distillate and jet fuel imports last week.

PADD 2  crude oil inventories declined by 1.7 million bbls to 104.1 million bbls in the reference week, 2.4 million bbls higher than in the same period last year.

EIA: PADD 5 Sees First Distillate Stocks Rise in 4 Weeks 

West Coast PADD 5 gasoline inventories increased slightly in the week ending September 5, snapping a four-week losing streak, while distillate stocks saw the largest weekly build among major products, according to the latest data from the U.S. Energy Information Administration. Crude oil supplies also moved higher, and jet fuel held flat.
Gasoline inventories climbed by 200,000 bbls to 30.4 million bbls in the reference week and were 1.5 million bbls above the 28.9 million bbls recorded in the same week in 2024. Gasoline imports in the region fell to 95,000 bpd from 111,000 bpd week-on-week but were up from 53,000 bpd in the comparable week last year.
PADD 5 distillate inventories climbed by 400,000 bbls to 12.1 million bbls in the week ending September 5. This was 1.7 million bbls above the 10.4-million-bbl level reported during the same period last year. Imports rose to 50,000 bpd from 7,000 bpd, compared with 61,000 bpd in the same week of prior year.
Crude oil inventories in the West Coast climbed by 300,000 bbls to 45.9 million bbls in the reference week. Stocks were 2.8 million bbls lower than the 48.7 million bbls reported in the corresponding week of last year.
Jet fuel inventories were flat at 11.3 million bbls, unchanged from both the prior week and year-over-year.  Jet fuel imports climbed to 120,000 bpd from 45,000 bpd last week and were also up from 55,000 bpd in the same period last year.

EIA: PADD 3 Gasoline Inventory Rises 600K bbl

US Gulf Coast PADD 3 gasoline inventories rebounded in the week ending September 9, climbing for a third straight week. Crude oil, distillate, and jet fuel inventories also increased across the region, the U.S. Energy Information Administration reported on Wednesday (9/10).
PADD 3 gasoline inventories rose week-over-week by 600,000 bbl to 81.9 million bbl in the week ended September 9, and they were 3.3 million bbl above the 78.6 million bbl reported in the same period of last year. Gasoline imports in the region climbed by 21,000 bpd to 67,000 bpd, compared with 34,000 bpd in the corresponding week of last year.
US Gulf Coast distillate inventories rose by 200,000 bbl to 44.2 million bbl in the profiled week. This was 2.7 million bbl above the 41.5 million bbl reported during the same period of the previous year. No distillate imports were recorded for the week, consistent with the prior week and this time last year.
PADD 3 crude oil inventories climbed by 5.5 million bbl to 244.9 million bbl from 239.4 million bbl. That was 5.9 million bbl above the 239.0 million bbl reported in the same week of last year. Crude imports fell by 812,000 bpd to 779,000 bpd the prior week and were down from 1.385 million bpd year-over-year.
Jet fuel inventories in the region rose by 300,000 bbl to 13.2 million bbl, but were 1.6 million bbl lower than the 14.8 million bbl reported in the same week of last year. The region continued recording zero jet fuel imports, matching levels from the prior week and this time last year.

Analysis: EIA Reports Across-The-Board Inventory Builds

U.S. commercial crude oil inventories rose by 3.9 million barrels to 424.6 million bbls last week, up 1.3% year-on-year and 3% below the five-year seasonal average. Stocks on the U.S. Gulf Coast expanded by 5.5 million bbls in the week ending September 5 as exports fell sharply, Energy Information Administration data revealed Wednesday.

A 1.14 million bpd week-on-week drop in exports and a 471,000 bpd decline in imports resulted in a 668,000 bpd week-on-week increase in net imports. Weekly import and export estimates are subject to large swings as they are highly dependent on the timing of customs filings and reporting by exporters. The EIA recommends using the four-week averages to glean trends from the data instead. In the four weeks ending September 5, crude oil imports and exports were closely in line with their pace in the same time period last year.

Total commercial oil and product stocks expanded by 15.4 million bbls last week as inventories in every category grew week-on-week. Distillate fuel oil inventories added 4.7 million bbls to 120.6 million bbls, narrowing the gap to year-ago levels to 3.5% and to the five-year seasonal average to 9%. Diesel stocks have this year undergone a prolonged stretch of historical tightness, and while they continued to trail 2024 levels, the third consecutive build alleviated some of the pressure brought upon by low inventories.

A colder start to the year and higher trucking demand has led to distillate fuel oil demand consistently outpacing 2024 levels so far this year. As of late, however, distillate fuel oil supplied, a proxy for demand, has started to inch closer to year-ago levels, with the four-week average measure up 75,000 bpd, or 2%, year-on-year.

EIA: Crude Up 3.9M Bbl, Distillates Build, Gasoline Higher

U.S. crude oil inventories rose in the week ending September 5, extending builds from the prior week, while distillate fuel oil supplies posted a sizable increase and gasoline stocks edged higher, the Energy Information Administration reported Wednesday (9/10).

Commercial crude stocks increased by 3.9 million bbl to 424.6 million bbl in the week ending September 5, which was 5.5 million bbl higher than the volume reported during the same week last year. The build follows a 2.4 million bbl increase reported for the prior week. Inventories at Cushing, Oklahoma, the delivery point for NYMEX West Texas Intermediate futures, slipped by 0.3 million bbl to 23.9 million bbl.

Distillate fuel oil inventories increased week-over-week by 4.7 million bbl to 120.6 million bbl, 4.4 million bbl below the last year level, the EIA data showed.

Motor gasoline inventories rose by 1.5 million bbl to 220.0 million bbl, 1.6 million bbl below the comparable week in 2024. Blending components added by 0.2 million bbl, while conventional gasoline stocks climbed by 1.2 million bbl.

Refinery utilization stood at 94.9% of capacity, up from 94.3% the prior week and above the 92.8% rate during the same period last year. Crude runs averaged 16.818 million bpd, down by 51,000 bpd week-on-week.

Crude exports averaged 2.745 million bpd, compared with 3.884 million bpd the previous week and 3.305 million bpd last year. Crude imports fell by 471,000 bpd to 6.271 million bpd, 596,000 bpd below last year levels. The four-week average for crude exports was 3.809 million bpd, down from 4.147 million bpd in the comparable period of 2024.

Total products supplied over the last four weeks averaged 20.299 million bpd, up by 186,000 bpd from the same period last year. Gasoline demand averaged 8.508 million bpd, down by 609,000 bpd from the prior week and 30,000 bpd above the last year level. Distillate demand averaged 3.377 million bpd, down by 391,000 bpd from the previous week and 180,000 bpd below the same week in 2024.

EIA: US Ethanol Output Up 2.3%, Stocks Dip Y-o-Y

The Energy Information Administration reported on Wednesday that overall ethanol production in the United States averaged 1.105 million bpd, up 30,000 bpd week-on-week and 25,000 bpd, or 2.3% higher than in the same week last year. Four-week average output at 1.097 million bpd was 19,000 bpd above the same four weeks last year.
Midwest ethanol production averaged 1.047 million bpd, up 26,000 bpd week-on-week and 28,000 bpd, or 2.7% higher than in the same week last year. Four-week average output at 1.038 million bpd was 20,000 bpd above the same four weeks last year.
Ethanol blending activity in the U.S. averaged 880,000 bpd, down 35,000 bpd week-on-week and 12,000 bpd, or 1.4% lower than in the same week last year. Four-week average blendind demand at 913,000 bpd was 4,000 bpd below the same four weeks last year.
Blender inputs at the East Coast were down 12,000 bpd on the week while inputs in the Midwest were down 12,000 bpd, down 11,000 bpd on the Gulf Coast and down 1,000 bpd on the West Coast.
Domestic ethanol inventories ended the week at 22.837 million bbl, up 273,000 bbl week-on-week and 877,000 bbl, or 3.8% lower than in the same week last year.
East Coast PADD 1 inventories ended the week at 6.702 million bbl, down 96,000 bbl week-on-week and 581,000 bbl, or 8.7% lower than in the same week last year.
Midwest PADD 2 inventories ended the week at 9.707 million bbl, up 615,000 bbl week-on-week and 220,000 bbl, or 2.3% lower than in the same week last year.
Gulf Coast PADD 3 inventories ended the week at 3.609 million bbl, down 344,000 bbl week-on-week and 354,000 bbl, or 9.8% lower than in the same week last year.
West Coast PADD 5 inventories ended the week at 2.461 million bbl, up 84,000 bbl week-on-week and 315,000 bbl, or 12.8% higher than in the same week last year.

EIA: Propane/Propylene Stocks Up 1.6% W/W

The Energy Information Administration reported on Wednesday total domestic propane/propylene stocks of 97.634 million bbl in the week ending September 5, up 1.506 million bbl week-on-week and 817,000 bbl, or 0.8% higher than in the same week last year.
Data show propane/propylene exports last week averaged 1.891 million bpd, up 104,000 bpd week-on-week and 58,000 bpd, or 3.1%, higher than in the same week last year.
Implied demand for propane/propylene in the United States averaged 867,000 bpd, up 161,000 bpd week-on-week and 44,000 bpd, or 5.1% higher than in the same week last year.
EIA reports domestic propane/propylene production averaged 2.86 million bpd, down 7,000 bpd week-on-week and 158,000 bpd, or 5.5% higher than in the same week last year.
East Coast PADD 1 inventories ended the week at 7.908 million bbl, down 778,000 bbl week-on-week and 75,000 bbl, or 0.9% higher than in the same week last year.
Midwest PADD 2 inventories ended the week at 26.323 million bbl, up 732,000 bbl week-on-week and 5,000 bbl, or 0% higher than in the same week last year.
Gulf Coast PADD 3 inventories ended the week at 58.174 million bbl, up 1.56 million bbl week-on-week and 1.257 million bbl, or 2.2% 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 5.228 million bbl, down 8,000 bbl week-on-week and 521,000 bbl, or 10% lower than in the same week last year.