Bloomberg the Company & Products

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

N.Y. Gasoline Falls as Inventories Climb to Seasonal High

April 24 (Bloomberg) -- New York Harbor gasoline weakened versus futures after East Coast inventories advanced to a 14-year seasonal high and refineries processed more crude.

Regional stockpiles of the motor fuel increased 570,000 barrels to 60.6 million barrels a day in the week ended April 19, the highest level for the time of year since 1999, according to Energy Information Administration data compiled by Bloomberg. East Coast refineries processed 1.15 million barrels of crude and other feedstock, up from 1.12 million last week.

Conventional, 85-octane gasoline, or CBOB, in New York Harbor slid 0.75 cent to a discount of 13.25 cents a gallon under New York Mercantile Exchange futures at 1:50 p.m. Reformulated, 84-octane gasoline, or RBOB, was unchanged at a discount of 2.25 cents a gallon.

Gasoline supplies on the U.S. East Coast have climbed 4.8 percent this month as plants including Philadelphia Energy Solutions’ Philadelphia refinery returned from planned maintenance. The increase may also have been aided by area imports of the fuel, which the EIA, the Energy Department’s statistical arm, reported at 592,000 barrels this week, a 2 percent increase.

The 3-2-1 crack spread in New York Harbor, a rough measure of refining margins for gasoline and diesel based on Brent oil in Europe, dropped 22 cents to $14.61 a barrel, a second consecutive decline, according to data compiled by Bloomberg.

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.