Advertisement
UK markets open in 3 hours 48 minutes
  • NIKKEI 225

    37,780.35
    +151.87 (+0.40%)
     
  • HANG SENG

    17,568.18
    +283.64 (+1.64%)
     
  • CRUDE OIL

    83.84
    +0.27 (+0.32%)
     
  • GOLD FUTURES

    2,346.30
    +3.80 (+0.16%)
     
  • DOW

    38,085.80
    -375.12 (-0.98%)
     
  • Bitcoin GBP

    51,530.32
    +163.48 (+0.32%)
     
  • CMC Crypto 200

    1,392.49
    +9.91 (+0.72%)
     
  • NASDAQ Composite

    15,611.76
    -100.99 (-0.64%)
     
  • UK FTSE All Share

    4,387.94
    +13.88 (+0.32%)
     

U.S. Cash Products-Gulf Coast gasoline stronger in thin trading

* Gulf gasoline up in thin trade

* NY Harbor differentials firmer

* Midwest products mixed, Chicago ULSD weaker on better supply

HOUSTON, Oct (HKSE: 3366-OL.HK - news) 22 (Reuters) - - U.S (Other OTC: UBGXF - news) . Gulf Coast cash gasoline differentials rose on Thursday

in thin trade with few sellers participating, traders said.

A4 CBOB, or conventional regular gasoline blendstock formulated for blending with 10 percent

ethanol, traded at 8.00-, 7.75- and 7.50-cent discounts to December RBOB futures, and

then was talked as low as 6.50 cents under, down 2.00 cents per gallon from Wednesday's finish.

Conventional M4 gasoline sold at 4.50- and 4.00-cent discounts to futures, up a penny per

ADVERTISEMENT

gallon, traders said.

The moves came as a gasoline-making fluid catalytic cracking unit (FCCU) at Marathon

Petroleum Corp's 451,000 barrels per day (bpd) Galveston Bay refinery in Texas City,

Texas, remained shut because of ongoing compressor and catalyst flow problems.

Also, Valero Energy Corp on Thursday reported to regulators a controlled shutdown at its

205,000 bpd Corpus Christi, Texas plant for leak repairs in a process unit.

However, also on Thursday Royal Dutch Shell said planned work was finished at its

316,600 bpd refinery in Deer Park, Texas, and LyondellBasell Industries

said an FCCU at its 263,776 bpd Houston refinery had restarted.

Traders attributed higher differentials to thin trade, noting that the restarts largely

canceled out fallout from the outages in the well-supplied market.

Midwest products were mixed. Chicago CBOB gasoline had buyers bidding 14 cents above

November RBOB for cycle-3 October barrels, while sellers asked 17 cents over. It (Other OTC: ITGL - news) was

pegged at 15 cents above the benchmark late on Wednesday.

Chicago ultra-low sulfur diesel (ULSD) continued to slump on improved supply availability,

brokers said. Sellers asked 9.00 cents above November ULSD and buyers were bidding 6.00

cents above futures. It was pegged at 15 cents over late on Wednesday, off 10 cents from

Tuesday.

Group Three gasoline had buyers and sellers on either side of 15 cents above November RBOB,

two cents below where it was valued late on Wednesday. ULSD was pegged half a cent stronger at

1.50 cents above November ULSD.

New York Harbor differentials mostly firmed. F4 RBOB was at 0.75 cent above November RBOB,

up 0.25 cent from its late-Wednesday peg. M3 (Other OTC: MTHRF - news) gasoline strengthened 0.75 cent to 5.25 cents over

November RBOB.

ULSD gained 0.75 cent to 0.75 cent below November futures. Jet fuel was pegged at 3.50 cents

below November ULSD, 0.50 cent stronger from its value late on Wednesday.

Ethanol Renewable Identification Number (RIN) credits rose a penny to trade at 41.25 cents

each, brokers said.

Biodiesel credits for 2015 traded two cents higher at 62 cents.

For more refinery news, please go to

Latest day

Timing NYMEX Bid Offer Change

Contract

U.S. GULF COAST * Scheduling

A4 CBOB gasoline Cycle 61 RBOB -7.00 -6.50 2.00

M4 conventional gasoline Cycle 61 RBOB -4.25 -3.75 1.00

62-grade ULSD Cycle 59 HO -7.75 -7.25 0.25

54-grade jet fuel Cycle 59 HO -9.00 -8.00 0.00

Heating oil * Cycle 58 HO -15.00 -14.50 0.75

NEW YORK HARBOR

M3 conventional gasoline Prompt RBOB 5.00 5.50 0.75

F4 RBOB Prompt RBOB 0.50 1.00 0.25

ULSD Prompt HO -1.00 -0.50 0.75

Heating oil Prompt HO -10.25 -9.75 0.00

Jet fuel Prompt HO -3.75 -3.25 0.50

MIDWEST

Chicago CBOB gasoline Cycle 3 RBOB 14.00 17.00 0.00

Chicago ULSD Cycle 3 HO 6.00 9.00 -6.00

Group Three gasoline RBOB 14.00 16.00 -2.00

Group Three ULSD HO 1.00 2.00 0.50

(Reporting by Kristen Hays in Houston and Robert Gibbons in New York; Editing by Alan Crosby)