Gasoline weakened the most in almost two weeks on the U.S. Gulf Coast as Motiva Enterprises LLC restarted units after a power failure last week.
The refinery took “most” units offline Dec. 20 when power and steam were lost during a storm, said Kimberly Windon, a Motiva spokeswoman in Houston. The refinery, which has a capacity of 600,000 barrels a day, reported flaring Dec. 23 associated with the startup of units at the site. Windon did not immediately respond to an e-mail today.
The discount for conventional gasoline to be blended with ethanol, or CBOB, on the Gulf fell 3.25 cents a gallon to 19 cents versus futures on the New York Mercantile Exchange at 1:16 p.m., the biggest percentage drop since Dec. 13. Reformulated, 84-octane gasoline retreated 1.75 cents to a discount of 18.25 cents below futures.
Ultra-low-sulfur diesel fuel slid 0.25 cent to 4.25 cents below heating oil futures. The same fuel was unchanged in New York, with a premium of 7.5 cents a gallon.
Motiva is a refining and marketing joint venture of Saudi Refining Inc., a subsidiary of Saudi Arabian Oil Co., and Shell Oil Co., a unit of Royal Dutch Shell Plc.