Gulf Gasoline, Diesel Fuel Strengthen on BP Texas City Emissions

Gulf Coast gasoline and diesel strengthened after BP Plc’s (BP) Texas City refinery reported emissions from a fluid catalytic cracker.

The BP unit exceeded the permitted opacity limit early yesterday, the company said in a filing with the Texas Commission on Environmental Quality. The release is being investigated.

The premium for reformulated, 87-octane gasoline in the Gulf Coast (MOSGR87P) rose 1.37 cents to 3.75 cents a gallon over May futures traded on the New York Mercantile Exchange at 2:15 p.m., according to data compiled by Bloomberg.

The Texas City refinery can process 475,000 barrels of crude a day, according to data compiled by Bloomberg.

The premium for ultra-low-sulfur diesel at the hub rose 0.5 cent to 5.63 cents a gallon over Nymex heating oil futures.

The fuel rose in the hub after inventories decreased in Europe, raising the value of exports from the U.S.

Gasoil inventories in independent storage in Amsterdam- Rotterdam-Antwerp decreased 3.2 percent to 2.69 million tons as cargoes were sent to the Mediterranean and the U.K., PJK International BV, data shows. Supplies of the fuel, which includes diesel and heating oil, arrived from Norway, Russia and the U.S.

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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