Gasoline in Pacific Northwest Rises on July Trading, Shell Work
Stock Chart for Royal Dutch Shell PLC (RDSA)
Spot gasoline in the U.S. Pacific Northwest gained against futures for a second day after trading began for July delivery and Royal Dutch Shell Plc (RDSA) shut a boiler at the Anacortes refinery in Washington for repairs.
Prompt-delivery contracts for conventional, 87-octane gasoline in Portland, Oregon, switched to July and are now trading against August gasoline futures on the New York Mercantile Exchange. July Nymex futures traded 9.54 cents above the August contract today.
Shell shut the No. 1 boiler at the 147,500-barrel-a-day Anacortes refinery on June 25 for 10 days of repairs after a tube leak, The Hague-based company said in a notice to the Northwest Clean Air Agency. The No. 2 boiler, connected to a catalytic cracking unit at the refinery, is “operating but leaking,” Shell said in the filing.
The premium to August futures for gasoline in Portland, a benchmark for the U.S. Northwest, was 4 cents a gallon compared with yesterday’s 5.5-cent-a-gallon discount to July, according to data compiled by Bloomberg. Prompt-delivery of the fuel rose 11.26 cents to $2.6718 a gallon.
Emily Oberton, a Shell spokeswoman in Houston, declined in an e-mail to comment on the boiler leaks at the Anacortes plant.
Low-sulfur diesel in Portland weakened 1.5 cents to 10 cents a gallon above Nymex heating oil futures.
California-blend gasoline, or Carbob, in Los Angeles slipped 1 cent to 8 cents a gallon above gasoline futures. The same fuel in San Francisco dropped 1.5 cents to 7.5 cents a gallon over futures.
California-blend, or CARB, diesel in Los Angeles gained 0.25 cent to a premium of 4.75 cents a gallon against heating oil futures. San Francisco CARB diesel rose 0.5 cent to 0.5 cent above futures.
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