New York Gasoline Weakens a Second Day After Stockpiles Increase
Gasoline in New York Harbor weakened a second day after the government reported inventories of the fuel rose for the first time in five weeks.
Total U.S. stocks of gasoline rose 1.36 million barrels to 206.3 million last week, the Energy Department reported yesterday. It was the first gain since September.
The discount for reformulated, 87-octane gasoline in New York Harbor dropped 0.88 cent to a premium of 5.25 cents a gallon versus futures traded on the New York Mercantile Exchange at 4:13 p.m., according to data compiled by Bloomberg. Prompt delivery rose 0.58 cent to $2.6943 a gallon.
ConocoPhillips (COP) released gas at its Wood River oil refinery in Illinois yesterday, according to a filing with state regulators. The discharge of 540 pounds of sulfur dioxide was related to a fault in a “flare gas recovery compressor,” the Houston-based company said in the filing with the Illinois Emergency Management Agency.
The discount versus futures for conventional, 87-octane gasoline in Chicago held at 1 cent a gallon.
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