Spot gasoline in the U.S. Pacific Northwest strengthened to a six-week high as a tanker was scheduled to load fuel from the region for export.
Gasoline’s discount narrowed as the chemical and oil-products tanker Isola Celeste neared Ferndale, Washington, where Phillips 66 runs a 100,000-barrel-a-day refinery. The vessel is expected to reach Ferndale tomorrow, when it’s scheduled to load fuel for shipment abroad, according to IHS Inc. and ship-fixture data compiled by Bloomberg.
Conventional gasoline in Portland, Oregon, a benchmark for the Pacific Northwest, strengthened 1.5 cents to 10 cents a gallon below futures traded on the New York Mercantile Exchange, the smallest discount since Nov. 20, data compiled by Bloomberg at 4:09 p.m. New York time show.
Ultra-low-sulfur diesel in Portland was unchanged at 8 cents under ULSD futures on the Nymex.
Conventional, 85-octane gasoline, or CBOB, on the Gulf Coast gained 2.5 cents to 18 cents a gallon below futures on the Nymex at 4:05 p.m. Conventional, 87-octane fuel gained 3.25 cents to a discount of 16 cents a gallon. Conventional gasoline in Chicago strengthened 3.75 cents to a discount of 18.5 cents a gallon.