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New York Diesel Slides After Delta’s Restart of Trainer Heater

Dec. 27 (Bloomberg) -- New York Harbor diesel weakened for the first time in five days after Delta Air Lines Inc., the only U.S. airline to operate a refinery, restarted a diesel heater at a its Pennsylvania plant.

Ultra low sulfur diesel in New York dropped 0.13 cent to 1 cent a gallon above futures on the New York Mercantile Exchange at 2:22 p.m., according to data compiled by Bloomberg. No. 54 jet fuel in the area was unchanged at 7.13 cents a gallon above ULSD futures.

Diesel slipped after Delta completed repairs to the heater that was damaged in a Nov. 3 fire at the 185,000-barrel-a-day Trainer refinery. Crews restarted the unit on Dec. 23, according to Adam Gattuso, a plant spokesman.

The 3-2-1 crack spread in New York, a rough measure of refining margins for gasoline and diesel based on Brent oil in Europe, widened 53 cents to $10.78 a barrel, according to data compiled by Bloomberg.

Delta’s Trainer refinery is operated by subsidiary Monroe Energy LLC. Atlanta-based Delta bought the plant from ConocoPhillips in June 2012, saying it would help the company save more than $300 million annually on fuel expenses.

California-grade, or Carbob, gasoline in San Francisco added 1.25 cents to a discount of 3.25 cents a gallon to Nymex gasoline futures. California-grade, or CARB, diesel in the area climbed 1.5 cents to a 3-cent discount to futures.

Los Angeles Carbob was unchanged at a premium of 5.5 cents a gallon, while CARB diesel in the region held at a discount of 2.75 cents.

Another 3-2-1 crack spread, assuming two barrels of Carbob gasoline and one barrel of CARB diesel in Los Angeles is refined out of three barrels of Alaska North Slope crude, rose 63 cents to $13.62 a barrel, 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: Bill Banker at bbanker@bloomberg.net

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