Spot gasoline on the Gulf Coast strengthened after a report that Exxon Mobil Corp. (XOM) halted output at the only catalytic cracker at its Beaumont, Texas, refinery.
Repairs on the unit, which turns heavier feedstock into lighter transportation fuels like gasoline, may take six to 10 days, EnergyNewsToday reported, without citing a source for the information. The 345,000-barrel-a-day refinery reported equipment failure yesterday resulting in flaring from the cracker and “some impact on production,” according to a filing with state regulators.
Conventional, 87-octane gasoline on the Gulf Coast strengthened 2.12 cents to a 13.5-cents-a-gallon premium over gasoline futures traded on the New York Mercantile Exchange at 4:11 p.m., according to data compiled by Bloomberg.
The premium for ultra-low-sulfur diesel in the Gulf grew 0.63 cent to 8.88 cents a gallon above heating oil futures in New York.
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