Midwest Gasoline Falls After Inventories Rise to 6-Month High
Midwest gasoline dropped after a government report showed inventories of the fuel rose to the highest level since June.
Conventional, 87-octane gasoline in the Midwest, or Group 3, weakened 1 cent to a discount of 10 cents versus futures traded on the New York Mercantile Exchange at 12:50 p.m., according to data compiled by Bloomberg. Prompt delivery fell 10.84 cents to $2.427 a gallon.
Gasoline stocks in the region rose 1.75 million barrels to 50.3 million barrels last week, the Energy Department reported.
Conventional, 87-octaine gasoline in the Gulf Coast narrowed its discount to futures by 0.37 cent to 5.63 cents a gallon.
ConocoPhillips’s Borger refinery in Texas expects to flare gases starting today during maintenance on electrostatic precipitators at a fluid catalytic cracker, according to a filing with the state.
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