Chicago Gasoline Surges After BP Whiting Catalytic Cracker Shut
Chicago gasoline strengthened after BP Plc (BP) shut a fluid catalytic cracker for unplanned repairs at the Whiting refinery in Indiana.
The unit is one of two catalytic crackers at the 420,000- barrel-a-day plant, according to a person familiar with refinery operations who declined to comment because the information isn’t public.
The discount for conventional, 87-octane gasoline in Chicago (CHCG87PC) narrowed 5.5 cents to 14.5 cents a gallon versus futures traded on the New York Mercantile Exchange at 12:52 p.m. The fuel has strengthened from a discount of 33 cents on Jan. 24. Prompt delivery rose 8.46 cents to $2.7535 a gallon.
The same fuel in New York Harbor (MOSNY87P) held at a premium of 1.88 cents to futures. Prompt delivery rose 2.41 cents to $2.9118 a gallon.
Sunoco Inc. (SUN) reported that a compressor associated with a reformer in the Girard Point section of the Philadelphia refinery lost power yesterday, according to a filing with city regulators. Power was restored before the unit was shut down, the filing showed.
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