U.S. Cash Products-Gulf gasoline mixed, ULSD up on pipeline scheduling
* Chicago gasoline gains despite refinery unit restart
* NY harbor gasoline mixed, ULSD slightly stronger
NEW YORK, April 16 (Reuters) - U.S. Gulf Coast cash gasoline differentials
were mixed on Thursday, traders said.
A2 CBOB, or conventional regular gasoline blendstock formulated for blending
with 10 percent ethanol, traded at an 18.75-cent discount to May RBOB
futures, down 0.75 cent per gallon, while conventional M2 gasoline was seen in a
wide bid-offer spread of 18.50/15.50 cents under, largely flat to Wednesday's
levels.
Gulf ultra-low sulfur diesel's (ULSD) differential climbed half a cent per
gallon to a 5.75-cent discount to May ULSD futures as the fuel's latest
five-day lifting cycle was scheduled to move on the Colonial pipeline, traders
said.
In the Midwest, Chicago CBOB gasoline traded at a 14.00-cent discount to May
RBOB futures, up a penny per gallon, on higher demand even though the smaller of
two gasoline-making fluid catalytic cracking units at BP Plc's 413,500
barrels per day refinery in Whiting, Indiana, finished restarting.
The unit was shut last week for repairs.
Chicago ULSD, however, slid 2.00 cents per gallon to a 10.00-cent discount
to May ULSD futures, traders said.
Group Three gasoline also fell a penny per gallon to an 18.00-cent discount
to May RBOB.
New York harbor products were mixed. F2 RBOB was steady around 1.25 cents
under May RBOB, while M2 conventional gasoline was up 0.50 cent at 11.25 cents
below the benchmark.
ULSD was up 0.25 cent pegged near 0.50 cent above May ULSD, while high
sulfur heating oil steadied at 11 cents below and jet fuel was unchanged at 5.00
cents below May futures.
Prices of Renewable Identification Number (RIN) credits were little-changed,
traders said.
Ethanol credits for 2015 compliance traded at 71.5 and 71.75 cents each, at
the weaker end of Wednesday's trades from 71 to 73 cents. Credits for 2014
traded at a premium of 1.5-2 cents above the current year's credits, brokers
said.
Biodiesel credits for 2015 traded at 85.25 cents, within Wednesday's 84 to
86-cent range. Biodiesel credits for 2014 were reported offered by sellers at 78
cents, with no transactions sighted.
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Latest day
Timing NYMEX Bid Offer Change
Contract
U.S. GULF COAST * Scheduling
A2 CBOB gasoline Cycle 23 RBOB -19.00 -18.50 -0.75
M2 conventional gasoline Cycle 23 RBOB -18.50 -15.50 0.00
62-grade ULSD * Cycle 21 HO -6.00 -5.50 0.50
54-grade jet fuel Cycle 22 HO -13.50 -12.50 0.00
Heating oil Cycle 21 HO -20.25 -19.75 -0.50
NEW YORK HARBOR
M4 conventional gasoline Prompt RBOB -11.50 -11.00 0.50
Any-Month RBOB -11.00 -10.75 1.00
F4 RBOB Prompt RBOB -1.50 -1.00 0.00
Any-Month RBOB -1.50 -1.00 0.00
ULSD Prompt HO 0.25 0.75 0.50
Any-Month HO 0.00 0.25 0.00
Heating oil Prompt HO -11.25 -10.75 0.00
Any-Month HO -11.25 -10.75 0.00
Jet fuel Prompt HO -5.25 -4.75 0.00
Any-Month HO -5.25 -4.75 0.00
MIDWEST
Chicago CBOB gasoline Cycle 3 RBOB -14.50 -13.50 1.00
Chicago ULSD Cycle 3 HO -10.25 -9.75 -2.00
Group Three gasoline RBOB -18.25 -17.75 -1.00
Group Three ULSD HO -7.50 -7.00 -0.25
(Reporting by Kristen Hays in Houston and Robert Gibbons and Chris Prentice in
New York; Editing by Grant McCool)