Gulf Gasoline Strengthens as Valero Oil Refinery Makes Repairs
Gulf Coast gasoline strengthened against futures after Valero Energy Corp. (VLO) reported flaring at its refinery in Corpus Christi, Texas, because of maintenance on an off-gas compressor.
Unit rates were reduced and streams routed to control devices during the incident yesterday, according to a filing with the National Response Center.
The discount for conventional, 87-octane gasoline in the Gulf Coast narrowed 0.62 cent to 11.38 cents a gallon versus futures traded on the New York Mercantile Exchange at 11:26 a.m., according to data compiled by Bloomberg. Prompt delivery fell 2.51 cents to $2.8241 a gallon.
“There was no material impact to production associated with the emissions report at Corpus Christi,” Bill Day, a Valero spokesman based in San Antonio, said in an e-mailed response to questions.
The premium for ultra-low-sulfur diesel in the Gulf increased 0.08 cent to 3.88 cents a gallon.
Pasadena Refining System Inc., a unit of Petroleo Brasileiro SA, was starting units that shut down after a power outage at its plant in Pasadena, Texas, the company said in a statement yesterday.
To contact the reporter on this story: Paul Burkhardt in New York at pburkhardt@bloomberg.net.
To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.
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