US WCoast Products - Gasoline gains on upset
HOUSTON, April 16 |
HOUSTON, April 16 (Reuters) - Gasoline rose in the Los Angeles spot market after a weekend upset at Valero Energy Corp's Los Angeles refinery, traders said on Monday.
April-delivery CARBOB gasoline sold at 5 cents a gallon over May-delivery NYMEX RBOB, which finished at $3.267 a gallon, down 7.91 cents. L.A. April CARBOB finished at 3 cents over on Friday.
Valero's 78,000 barrel per day (bpd) Wilmington, California, refinery reported a sulfur plant malfunction on Saturday, but a Valero spokesman said on Monday that the upset would not have a material impact to production.
L.A. CARBOB weakened later on Monday, falling to a bid price of 2 cents over the NYMEX, but was untraded.
April CARBOB remained stronger in the San Francisco Bay market, trading early on Monday at a 6-cent premium on top of L.A. CARBOB, maintaining strength gained on Friday after a small fire was reported at the 120,200 bpd ConocoPhillips refinery in Rodeo, California.
May-delivery CARBOB fell 1.25 cents in the L.A. spot market during the day on Monday, trading from 2.5 cents to 1.25 cents over June NYMEX RBOB.
Gasoline in the Portland market traded at 7.5 cents a gallon over NYMEX RBOB on Monday.
CARB diesel, mandated by state pollution regulators to reduce pollution in California's major metropolitan areas, was down 2 cents at an 8-cent premium on May NYMEX heating oil for the April contract, traders said.
Bay market April CARB diesel was stronger in a bid-offer spread at 7 cents/10 cents over NYMEX heating oil.
EPA-grade diesel, which is used outside of California's cities was discounted by 2.5 cents from the April CARB diesel in the L.A. market.
Jet fuel in L.A. was at 7 cents/8 cents over NYMEX heating oil.
April diesel in the Portland, Oregon, market was in a bid-offer spread at 26 cents/29 cents over May NYMEX heating oil. (Reporting by Erwin Seba)
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