Gasoline in U.S. Pacific Northwest Advances as Tanker Approaches

Spot gasoline in the U.S. Pacific Northwest strengthened for the first time in three days as a tanker was scheduled to load fuel from the region for export.

Gasoline’s discount narrowed as the chemical and oil-products tanker High Enterprise headed for Ferndale, Washington, where Phillips 66 (PSX) runs a 100,000-barrel-a-day refinery. The vessel, expected to reach Ferndale Jan. 13, was chartered by Phillips to load fuel for shipment to Singapore, according to IHS Inc. (IHS) and ship-fixture data compiled by Bloomberg today.

Conventional gasoline in Portland, Oregon, a benchmark for the Pacific Northwest, strengthened 0.5 cent to 11.5 cents a gallon below futures traded on the New York Mercantile Exchange, data compiled by Bloomberg at 4:17 p.m. New York time show.

Ultra-low-sulfur diesel in Portland advanced 1.5 cents to 6.5 cents a gallon under ULSD futures on the Nymex, its highest level in more than two weeks.

In Los Angeles, California-blend gasoline, or Carbob, weakened 3 cents against futures to a discount of 1.25 cents a gallon. The same fuel in San Francisco sank 2 cents to a 6.5-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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