Gasoline in U.S. Pacific Northwest Hits 6-Week High on Exports

Spot gasoline in the U.S. Pacific Northwest strengthened to a six-week high as a tanker was scheduled to load fuel from the region for export.

The fuel’s discount narrowed as the chemical and oil-products tanker Isola Celeste neared Ferndale, Washington, where Phillips 66 (PSX) runs a 100,000-barrel-a-day refinery. The vessel is expected to reach Ferndale tomorrow, when it’s scheduled to load fuel for shipment abroad, according to IHS Inc. (IHS) and ship-fixture data compiled by Bloomberg.

Conventional gasoline in Portland, Oregon, a benchmark for the Pacific Northwest, strengthened 1.5 cents to 10 cents a gallon below futures traded on the New York Mercantile Exchange, the smallest discount since Nov. 20, data compiled by Bloomberg at 2:12 p.m. New York time show.

Ultra-low-sulfur diesel in Portland was unchanged 8 cents under ULSD futures on the Nymex.

The premium for California-blend gasoline, or Carbob, in Los Angeles advanced 4.5 cents to a premium of 5.5 cents a gallon versus futures. The same fuel in San Francisco was unchanged at a 4-cent discount.

To contact the reporter on this story: Lynn Doan in San Francisco at ldoan6@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

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