MARKETWIRE ALERTS


   
Maria Eugenia Garcia
DTN Energy Editor

   MARKETWIRE ALERTS 

   MarketWire Afternoon News August 24th:

   Updated at 6:20 PM ET 

    

   HEADLINES:

   -- PNW Sub-Octane Basis Jumps 22cts on Oct. Contract Roll

   -- Murphy Oil Names New Chief Legal Officer

   -- New U.S. Sanctions Target Iran's Aviation, Shipping

   -- Enterprise Mont Belvieu Unit Flares Hydrocarbons

   -- Tallgrass Launches Pony Express Open Season

    

    

   PNW Sub-Octane Basis Jumps 22cts on Oct. Contract Roll

   Pacific Northwest cash gasoline basis recorded a steep increase Wednesday 
(8/24), as the market shifted to the October contract amid tightening supply 
and firm demand.

   Sources said prompt sub-octane in the Pacific Northwest traded at 20cts 
premiums to October RBOB futures on the New York Mercantile Exchange, up 22cts 
from the prior trading session.

   In contrast, San Francisco and Los Angeles CARBOB basis was assessed at a 
61cts premium to October NYMEX RBOB futures contract, an increase of 2cts and 
3cts, respectively, from Friday's assessment.

   The firmer regional basis reflected constrained gasoline availability. 
According to the Energy Information Administration,  motor gasoline stockpiles 
in PADD 5 fell by 1.4 million bbl to 28.1 million bbl during the week ended 
August 14. Gasoline stocks declined by 3.1 million bbl from the 31.2 million 
bbl reported during the corresponding week of last year.

   PADD 5 gasoline imports declined by 1,400 bpd to 28,100 bpd last week, 
remaining 3,100 bpd lower compared with 31,200 bpd recorded a year earlier.

   Murphy Oil Names New Chief Legal Officer

   Murphy Oil Corporation  announced Monday (8/24) the appointment of Michol L. 
Ecklund as Senior Vice President, Chief Legal Officer and Corporate Secretary, 
effective August 31, 2026. 

   In her new role, Ecklund will oversee Murphy's legal, compliance, 
governance, government affairs, land, sustainability and risk management 
functions, reporting directly to President and Chief Executive Officer Eric M. 
Hambly.

    New U.S. Sanctions Target Iran's Aviation, Shipping

   The U.S. Department of the Treasury (DOT) launched the "Operation Economic 
Outcast" campaign on Monday (8/24) aiming to sever Iran's economic ties with 
the global financial system.  

   As part of the campaign, the Office of Foreign Assets Control (OFAC) issued 
five new sectoral sanctions targeting Iran's digital assets, technology, gold, 
aviation, and shipping sectors. The measure seeks to expand the Treasury's 
authority to sanction any foreign person operating in or supporting those 
industries, the DOT stated.

   Nearly 60 entities, individuals, and vessels were designated across multiple 
jurisdictions, spanning nuclear and missile procurement networks, a malicious 
Iranian cyber group directed by the Ministry of Intelligence and Security, and 
an extensive shadow fleet oil revenue network operating across the UAE, China, 
Singapore, Switzerland, and Europe.

   Five shadow fleet vessels were blocked, and several general licenses 
previously authorizing remittance payments and Iranian access to U.S. cultural 
and academic institutions were suspended, according to a DOT statement.

   Countries that fail to act, officials warned, face the prospect of being cut 
off from the U.S. financial system entirely.

   Iran, Treasury said, now faces a clear choice: severe global isolation, or a 
path back to the international economy.

   Enterprise Mont Belvieu Unit Flares Hydrocarbons

   Enterprise Products Operating reported an emissions event at the Splitter 
III Unit at its1.2 million bpd Enterprise East facility in Mont Belvieu, Texas, 
following an overpressure incident, according to a filing with the Texas 
Commission on Environmental Quality.

   The release occurred after elevated ambient temperatures caused the unit's 
overhead tower to overpressure, prompting hydrocarbons to be routed to the West 
Flare.

   The event began at approximately 2:00 p.m. on Saturday (8/22) and lasted 
approximately 10 hours, ending around midnight, according to the initial filing.

    During that period, the facility released an estimated 3,770 pounds of 
propylene, 320 pounds of carbon monoxide, 210 pounds of nitrogen oxides, and 29 
pounds of propane, exceeding permitted hourly limits.

   Enterprise, the largest NGL fractionation hub in the U.S., said it followed 
"good engineering practices" to ensure the vented hydrocarbons were properly 
combusted at the flare.

   Tallgrass Launches Pony Express Open Season

   Tallgrass and Bridger Pipeline launched a new binding joint tariff open 
season for shipper commitments on existing capacity on the Pony Express 
Pipeline for crude oil transportation from Bridger's Guernsey Hub.

   The 760-mile pipeline is operated by Tallgrass and Bridger Pipeline and 
carries crude oil from Wyoming to Oklahoma.

   The open season will run for 30 days, commencing August 21, according to a 
company statement.

    

    




(c) Copyright 2026 DTN, LLC. All rights reserved.