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

Gulf Diesel Advances to One-Week High on Inventory Drop

Don't Miss Out —
Follow us on:

May 24 (Bloomberg) -- U.S. Gulf Coast diesel fuel strengthened to the highest level in a week versus futures as regional supplies fell and Exxon Mobil Corp. repaired a leak at its Baton Rouge refinery.

Distillate stockpiles on the U.S. Gulf Coast, referred to as PADD 3, declined 493,000 barrels to 39.2 million in the week ended May 17, according to U.S. Energy Information Administration data.

Exxon’s 503,500-barrel-a-day Baton Rouge, Louisiana, refinery is conducting repairs after a leak associated with sulfur plant operations, the company said in an e-mailed statement yesterday.

The discount for ultra-low-sulfur diesel on the Gulf Coast narrowed 0.38 cent to 4.25 cents a gallon below futures on the New York Mercantile Exchange at 12:12 p.m., the strongest since May 14, according to data compiled by Bloomberg. Conventional, 85-octane gasoline, or CBOB, advanced 0.25 cent to 24 cents a gallon under futures.

The 3-2-1 crack spread on the Gulf, a rough measure of refining margins based on West Texas Intermediate in Cushing, Oklahoma, fell 36 cents to $19.78 a barrel. The same spread for Light Louisiana Sweet oil gained 64 cents to $11.53.

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.