Northwest Gasoline Tumbles on Tankers, as Shell Restores Output
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Spot gasoline in the U.S. Pacific Northwest dropped by the most against futures since February as tankers carried oil products to the region and a Royal Dutch Shell Plc refinery recovered from a power failure.
The oil-products tanker NCC Reem, near Seattle, was bound for BP Plc’s Cherry Point refinery in Washington state today, according to IHS Inc. data. The vessel was chartered by Phillips 66 to deliver clean products to the West Coast from South Korea, ship-fixture information compiled by Bloomberg show. The Voge Dignity, off the California coast, is also headed for Vancouver.