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.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.