US West Coast Products - Gasoline Gains on Report
Gasoline gained 3.5 cents on Wednesday in the Los Angeles market after the U.S. government reported that West Coast stockpiles fell last week, traders said.
Unleaded ethanol-blend October CARBOB gasoline climbed 3.5 cents at 20 cents a gallon on top of November NYMEX RBOB RBc1 gasoline.
In the San Francisco Bay market, CARBOB was 1.5 cents stronger than L.A.
The U.S. Energy Information Administration said West Coast gasoline inventories fell 552,000 barrels last week to 28.5 million barrels.
Two regional refineries continue to perform maintenance.
BP Plc's (BP.L) (BP.N) 265,000 bpd Los Angeles-area refinery in Carson, California, was performing maintenance scheduled to last through Oct. 3.
Portland gasoline was trading above L.A. due to work at Shell Oil Co's (RDSa.L) 145,000 bpd Anacortes, Washington, refinery. The work involving multiple units is planned to last through early November.
Gasoline in the Portland, Oregon, market was down 2 cents at 26 cents a gallon over NYMEX November RBOB.
L.A. market CARB diesel was again flat, offered at 11.5 cents a gallon over November NYMEX heating oil. Bay CARB diesel was seen at even to L.A.
EPA-grade ultra-low sulfur diesel was priced at 10 cents a gallon over NYMEX heating oil.
Jet fuel was also offered at 10 cents on top of NYMEX November heating oil.
In Portland, diesel was 3 cents weaker in a bid-offer spread at 20 cents/24 cents over NYMEX heating oil.
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