U.S. Northeast Fuels Weaken as Delta Refinery Restarts Unit
Conventional, 84-octane gasoline, or RBOB, in New York slipped 0.25 cent to 0.75 cent a gallon above futures on the New York Mercantile Exchange at 3:28 p.m. Ultra-low-sulfur diesel fell 0.13 cent to reach parity with futures after yesterday climbing to a premium of 0.13 cent.
Delta, the only airline operating a U.S. refinery, restarted a fluid catalytic cracker at the 185,000-barrel-a-day Trainer refinery after shutting the unit Oct. 18 for unplanned maintenance. An FCC remains shut at Irving Oil Corp.’s Saint John refinery in New Brunswick.
The 3-2-1 crack spread in New York, a measure of refining margins for gasoline and diesel based on Brent oil in Europe, gained 35 cents to $6.51 a barrel, a second consecutive advance, according to data compiled by Bloomberg. The spread on the Gulf Coast, based on West Texas Intermediate in Cushing, Oklahoma, dropped $1.66 to $10.66 a barrel.
Conventional, 87-octane gasoline on the Gulf added 0.75 cent to 20.75 cents a gallon under Nymex futures, ending a four-day decline, according to data compiled by Bloomberg.
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