Tuesday, September 22, 2026

Daily refined fuels briefing

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Gasoline
$3.535/gal
unch
ULSD
$5.338/gal
unch
WTI
$107.02/bbl
unch
Gas crack
$41.45/bbl
unch
Diesel crack
$117.18/bbl
unch
Retail gas
$4.61/gal
▲ 0.16
Retail diesel
$6.53/gal
▲ 0.24
Change vs. prior data point. Spot prices & single-product cracks vs WTI, from EIA data ↗

📈 Markets & Prices

Public companies produce most U.S. crude oil and natural gas
Publicly traded companies represent a tiny share of the total number of companies producing crude oil and natural gas in the United States, but they make up a large share of U.S. production. In 2025, publicly traded comp
Diplomacy Knocks Crude Lower, But Diesel Bulls Aren’t Done Yet
Oil and diesel prices are seeing a wave of selling for a 2nd straight day, with both contracts down around 5% to start the week with hopes for diplomacy apparently contributing to the pullback. RBOB gasoline futures are

🏭 Refining & Supply Ops

US DOE to Award $99MM to Geothermal Innovation, Exploration Projects
'Five projects will conduct field-scale enhanced geothermal systems tests to validate technologies under real-world conditions, while 16 additional projects will conduct exploration drilling'.
Global Upstream M&A Activity Set to Exceed 2025 Total
Global upstream mergers and acquisitions activity is on course to exceed last year's $175 billion total, Rystad Energy announced.
Saudis in Process of Starting Vital Oil Pipeline
Saudi Arabia is in the early stages of starting up a key oil pipeline, people familiar with the matter said.
China Gas Raises LNG Order from Venture Global to 2.5 MMtpa
Venture Global secured a new agreement to supply 0.5 million metric tons per annum of United State liquefied natural gas to China Gas for 20 years from 2030.
McDermott Completes Refinancing
The Houston-based energy projects contractor raised $1.05 billion in share and debt instrument sale proceeds.
Texas Upstream Employment Rises
Texas upstream employment rose in August, the Texas Independent Producers and Royalty Owners Association (TIPRO) highlighted.
Norway Gas Output Down Month on Month
The decrease comes as another strike looms.
USA Diesel Price Surges Again
U.S. diesel surged again over the last week, GasBuddy highlighted.

🏛️ Policy & Credits

EU SAF supply exceeds 2025 ReFuelEU aviation target
Aviation-fuel suppliers reported supplying 39.3 million metric tons of aviation fuel at EU airports in 2025, of which 1.1 million tons—or 2.8 percent—was SAF.
Sen. Grassley receives awards for biofuels leadership
Sen. Grassley, R-Iowa, received two awards from two different trade groups in September recognizing his leadership in and contributions to effective ag and biofuel policy.
Renewable diesel continues to drive cuts in California climate pollution
Transportation achieved the largest total decrease in the state driven by the rising use of renewable diesel and zero-emission vehicles.
GCMD, Equinor partner to advance alternative fuel, carbon value chains
The organizations will leverage their complementary expertise to help address technical and operational gaps in scaling alternative marine fuels.