U.S. Gulf Gasoline Strengthens as BP Reports Ultraformer Leak

Gasoline in the Gulf Coast rose as BP Plc reported an exchanger leak in an ultraformer at its Texas City refinery in Texas.

“Once the exchanger is identified, it will be isolated away from the process for repair/replacement procedures,” the company said in a filing with the Texas Commission on Environmental Quality.

The discount for conventional, 87-octane gasoline in the Gulf Coast narrowed 0.75 cent to 9.75 cents a gallon versus futures traded on the New York Mercantile Exchange at 12:09 p.m., according to data compiled by Bloomberg. Prompt delivery gained 4.46 cents to $2.6312 a gallon.

Colonial Pipeline Co., which operates the largest pipeline linking the Gulf Coast to U.S. East Coast markets, allocated gasoline shipments on its Line 1 north of Collins, Mississippi, for Cycle 46, according to a bulletin to shippers.

The discount for conventional gasoline to be blended with ethanol, or CBOB, in New York Harbor, narrowed 0.13 cent to 1 cent a gallon.

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