US Cash Products-NYH mogas gains on work, imports

Wed Nov 11, 2009 6:13pm GMT
 
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TORONTO, Nov 11 (Reuters) - New York Harbor gasoline gained either side of a penny Wednesday on a dearth of imports coupled with planned refinery work but lack of storage and high inventories are seen placing a ceiling on gains, traders said.

"Tankage is limited but seems supply is limited with no cargoes and line barrels seem to be placed at this time," said one New York Harbor gasoline trader.

Gasoline imports into the region have lagged last year's volumes but production has also fallen due to planned and unplanned outages.

Chicago gasoline differentials leveled off after volatility earlier in the week as strong refiner selling became strong refiner buying, traders said.

Distillates were flat to higher as demand remains relatively flat because warm weather dampens heating oil demand and a weak economy keeps diesel use down.

U.S. crude oil futures fell in choppy trade as the dollar rebounded, traders said, while refined products seesawed as Gulf Coast production and refinery operations were unscathed after Ida. [O/N] [ID:nN10308574]

For a complete list of refinery outages, click [REF/US]

U.S. GULF COAST <0#P-USG>

Trade along the Gulf Coast was thin with no major products scheduling on the Colonial Pipeline, traders said.  Continued...

 

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