N.Y. Diesel Gains After Crude Unit Shutdown at U.K. Refinery

Diesel in New York Harbor strengthened after Ineos Group AG shut a crude unit at its Grangemouth refinery in the U.K.

The 65,000-barrel-a-day crude distillation unit was closed March 12, according to Abudi Zein, a senior vice president at Genscape Inc., an energy monitoring firm based in Boston.

The premium for ultra-low-sulfur diesel in New York Harbor (DIESNULP) rose 0.38 cent to 6.38 cents a gallon versus futures traded on the New York Mercantile Exchange at 12:16 p.m., according to data compiled by Bloomberg. Prompt delivery gained 0.82 cent to $3.3394 a gallon.

Inventories of the fuel on the East Coast dropped 1.3 million barrels to 21.5 million last week, according to the Energy Department.

The discount for conventional, 87-octane gasoline at the New York hub held at 23.5 cents.

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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