U.S. WCoast Products - Gasoline sharply weaker

Fri Jun 19, 2009 11:17pm BST
 
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 HOUSTON, June 19 (Reuters) - Gasoline weakened sharply on
West Coast product markets Friday and traders cited refineries
returning from repair, weaker demand and cheap imports.
 Los Angeles ethanol-blended CARBOB for June sold down 7
cents at even with July New York RBOB, which fell 10.51 cents
to $1.9244 a gallon on the New York Mercantile Exchange.
 In San Francisco, CARBOB was selling 3.5 cents weaker than
its Los Angeles counterpart.
 Traders said refineries were returning from maintenance
and, along with weak demand, imports from the Far East were
driving prices down.
 California gasoline inventories contributed to a sharp
build in nationwide stocks for the week ended June 12,
according to government data released Wednesday.
 July CARB diesel in L.A. was virtually unchanged,
bargaining at 4.5 cents against offers of 6 cents a gallon over
August New York heating oil, which fell nearly 5 cents to
$1.8263.
 Los Angeles jet fuel traded 0.50 cents stronger, drawing
bids of 7.25 cents against offers of 8.25 cents a gallon over
NYMEX heating oil.
 In the Portland, Oregon, bids of 4 cents a gallon over
NYMEX RBOB met offers of 7 cents a gallon over, 1 cent weaker.
 Portland diesel bargained was offered at 8 cents over NYMEX
heasting oil against no bids, 1 cent stronger.
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 (Reporting by Bruce Nichols; Editing by David Gregorio)






 

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