Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Gasoline Gains in New York Harbor Before Sandy Hits East

Oct. 26 (Bloomberg) -- Gasoline strengthened in the New York Harbor market on speculation Delaware, New Jersey and Pennsylvania refineries will shut as Hurricane Sandy approaches the region.

Five East Coast plants, with a combined capacity of about 1.15 million barrels a day, may be affected by the storm, according to Andy Lipow, president of energy consultant Lipow Oil Associates LLC in Houston.

The refineries include Philadelphia Energy Solutions’ Philadelphia; PBF Energy Inc.’s Paulsboro, New Jersey and Delaware City, Delaware; Monro Energy LLC’s Trainer, Pennsylvania, and Phillips 66’s Linden, New Jersey plants.

Sandy, a Category 1 storm with winds of 75 miles (121 kilometers) an hour at 2 p.m., was 430 miles south-southeast of Charleston, South Carolina, moving north at 7 mph. It may shutter plants for five to seven days due to pre-storm closures and power outages, Roger Read, an energy analyst with Wells Fargo & Co. in Houston, said today in a note to investors.

Reformulated gasoline to be blended with ethanol gained 0.25 cent to trade at a premium of 2 cents a barrel over futures on the New York Mercantile Exchange at 2:57 p.m. in New York. Prompt delivery increased by 2.52 cents to $2.7191 a gallon.

To contact the reporter on this story: Christine Harvey in New York at charvey32@bloomberg.net

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.