Chicago Gasoline Drops After Citgo Completes Plant Maintenance
Chicago gasoline weakened after Citgo Petroleum Corp. completed maintenance at the Lemont refinery in Illinois.
The 170,500-barrel-a-day plant was scheduled to shut most of the main production units by May 1 for repairs expected to last four or five weeks, a person familiar with the plant’s operations said April 26. The equipment shut included a crude unit, coker, fluid catalytic cracker and alkylation unit, the person said.
The premium for conventional, 87-octane gasoline in Chicago dropped 19 cents to 14 cents a gallon versus futures trading on the New York Mercantile Exchange at 2:39 p.m., according to data compiled by Bloomberg. Prompt delivery fell 18.54 cents to $2.7948 a gallon.
Citgo said maintenance was completed at the Lemont refinery in an e-mailed statement yesterday.
Conventional, 87-octane gasoline in the Gulf Coast rose 0.88 cent to a discount of 8.75 cents a gallon against futures.
Phillips 66 (PSX) reported a process upset yesterday at the Borger refinery in Texas, according to a filing with state regulators.
The company also released sulfur dioxide to a flare after a unit upset at its refinery in Westlake, Louisiana, according to a filing with the National Response Center. The release at 12:34 p.m. local time yesterday was secured and the upset was corrected, the filing showed.
Rich Johnson, a Phillips 66 spokesman, declined to comment on the upsets.
Conventional gasoline in New York Harbor weakened 0.12 cent to a premium of 1.88 cents versus futures.
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