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Chicago Gasoline Strengthens From Record Low as Selling Slows

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Feb. 21 (Bloomberg) -- Chicago gasoline rose against futures for a third day since falling to a record low over speculation that some refiners cut back on fuel sales.

The seller or sellers must have backed off, Steve Mosby, vice president of ADMO Energy LLC, a supply consultant in Kansas City, Missouri, said in a message.

The discount for conventional, 87-octane gasoline in Chicago narrowed 9 cents to 31.5 cents a gallon versus futures traded on the New York Mercantile Exchange at 2:34 p.m., according to data compiled by Bloomberg. The spread reached 63.5 cents on Feb. 15. Prompt delivery rose 14.8 cents to $2.7545 a gallon.

The same fuel in the Midwest, or Group 3, strengthened 2 cents to a discount of 10.5 cents a gallon.

To contact the reporter on this story: Paul Burkhardt in New York at pburkhardt@bloomberg.net

To contact the editor responsible for this story: Bill Banker at bbanker@bloomberg.net

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