Los Angeles Fuel Rises on Tesoro Refinery Work
Los Angeles gasoline fell for a second day after the California Energy Commission said inventories jumped 10 percent last week and Chevron Corp. (CVX)’s El Segundo refinery was said to start a coker compressor.
California-blend gasoline, or Carbob, supplies rose to 5.32 million barrels in the week ended July 20, up from 4.83 million a week earlier, the state Energy Commission said in an e-mailed report. Carbob production also increased 6.2 percent to 6.55 million barrels, the state said.
Chevron’s 279,000-barrel-a-day El Segundo refinery, the largest in the state, started a compressor at the coker unit after a failure today, a person familiar with operations at the plant said. The equipment tripped offline briefly, said the person, who asked not to be identified because the information isn’t public.
California-blend, or Carbob, gasoline in Los Angeles dropped 1.62 cents to a premium of 5.38 cents a gallon against gasoline futures traded on the New York Mercantile Exchange, data compiled by Bloomberg shows. The same fuel in San Francisco fell 3.12 cents to 0.88 cent above gasoline futures.
California-blend diesel, or CARB diesel, in Los Angeles was unchanged at a premium of 5.25 cents a gallon versus heating oil futures traded on the Nymex. CARB diesel in San Francisco was also unchanged at 3 cents a gallon above futures.
CARB diesel inventories increased 17 percent, or 443,000 barrels, to 3 million last week, the state Energy Commission said. Production of the fuel also gained 12 percent to 2.15 million, the state said.
Conventional, 87-octane gasoline in Portland, Oregon, slipped 1.5 cents to a discount of 11 cents a gallon versus Nymex gasoline futures. Low-sulfur diesel there dropped 3 cents to 8 cents above heating oil futures.
Gasoline inventories in the U.S. West Coast, known as the Padd 5 region, fell 1.4 percent to 26.9 million barrels last week, the Energy Department said. Distillate fuel oil supplies increased for the third week, climbing 0.5 percent to 12.7 million, the agency said.
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