Nymex Overview: Crude Oil and Refined Product Futures Stumble at Midweek — OPIS

Petroleum futures were trending lower on Wednesday after a strong start to the week, though crude oil and gasoline futures were not straying too far from Tuesday's settlement.

Among Wednesday's Energy Information Administration data, the distillate figures were considered the most bearish, and that is reflected by a more than 3.5ct loss in the front-month diesel contract. Diesel, though, has been the strongest in recent trading days and was susceptible to a pullback.

October diesel hit the low of the day shortly after the EIA data came out, dropping to $2.3479/gal. The contract has since bounced back by about a cent, but at $2.3584/gal the contract is still down 3.51cts on the day. Overall, front-month diesel is trading within Tuesday's trading range.

More volume is shifting into the November contract, which is being seen throughout the NYMEX petroleum complex. The next-month contract was off by slightly less, trading at $2.3532/gal, down 3.19cts.

RBOB futures were down, but losses were marginal with midday approaching as the October contract last traded at $2.0369/gal, down 0.47ct. At the low point, the contact was off by about 1.5cts at $2.0267/gal. Slightly smaller declines in the November contract were helping the backwardation narrow, but it is still at 5cts/gal as November was trading at $1.9777/gal, down 0.25ct.

Crude oil futures were trying to make their way back into positive territory.

October options expire Wednesday, and that may keep the front-month contract from making an aggressive move one way or the other. At midday, October WTI was off 18cts at $64.34/bbl. The November contract posted a similar move, trading down 16cts at $64/bbl. November Brent was off 20cts at $68.27/bbl as ranges for Brent and WTI have been relatively narrow.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

--Reporting by Denton Cinquegrana, dcinquegrana@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com

(END) Dow Jones Newswires

September 17, 2025 12:50 ET (16:50 GMT)