Market Flux Event
US to Loan 315,000 Barrels from Northeast Heating Oil Reserve as Diesel Hits $6.32 a Gallon
Read this in the Market Flux appThe United States announced plans to loan approximately 315,000 barrels from its Northeast Heating Oil Reserve, representing roughly a third of the reserve, in an effort to cool surging diesel and heating oil prices. The move comes as diesel prices reached $6.32 per gallon in the Northeast region, a level that prompted federal intervention ahead of the winter heating season.
Energy futures settled mixed on the day. NYMEX WTI crude for December delivery closed at $97.15 a barrel, down 67 cents or 0.68%. NYMEX diesel November futures settled at $4.7633 a gallon, while gasoline for November settled at $3.1205 a gallon. Natural gas was the session's standout mover, with the November contract settling at $2.79 per MMBtu after trading down more than 5% at one point during the session, touching $2.814 earlier in the day.
Separately, Italy's oil product sales fell 1.8% year over year to 4.307 million tons in September, with diesel and gasoil dropping sharply by 7.6% to 2.057 million tons, partially offset by gains in gasoline, up 4.9%, jet fuel, up 3.9%, and bunker fuel, which surged 15.3%.
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- PiQMarkets🚨 CME Price Alert 🚨 Natural Gas (X26) trades down 5% from its previous close Traded 2.814 on 21 Oct at 10:30 am Find out more
- Staunovo#Italy: oil product sales fell by 1.8% y/y to 4.307 million tons in September Gasoline +4.9% y/y to 0.829mt Diesel/gasoil -7.6% y/y to 2.057mt Jet fuel +3.9% to 0.508mt LPG -2.8% y/y to 0.247mt Bunkers +15.3% to 0.243mt Bitumens +6.5% to 0.180mt MASE #OOTT
- KalshiJUST IN: US to loan 315,000 barrels from its Northeast heating oil reserve as diesel prices hit $6.32 per gallon, per Reuters
- FinancialjuiceNYMEX WTI Crude Dec. futures settle at $97.15 a barrel down 67 cents, 0.68%
- FirstSquawkUS CRUDE OIL FUTURES SETTLE 0.68% LOWER AT $97.15/BBL, DOWN 67 CENTS
- RedboxWireUS CRUDE OIL FUTURES SETTLE 0.68% LOWER AT $97.15/BBL, DOWN 67 CENTS
- Osint613HORMUZ Update: 10-21 - 1900 GTM - Reports of an explosion around Hormuz - USN also hailing multiple vessels at the moment - USN currently hailing vessel tanker AURA for illegal STS
- Capital_HungryCapitalized on the XAU bounce as per plan, been rinsing both sides. But this will keep Oil hot. Watching for another Asian session bearish dump.
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- FINANCIERNEWS🛢️ COMMODITIES DAILY ROUNDUP Brent Crude $109.97 ▲ +1.08% WTI Crude $97.96 ▲ +0.14% Natural Gas $2.787 ▼ -5.94% Gold $4136.80 ▼ -0.14% Silver $57.485 ▼ -0.89% Copper $6.558 ▼ -0.70%