Midwest Gasoline Gains as Conoco’s Oklahoma Plant Flares Gases
Spot gasoline in the Midwest strengthened after ConocoPhillips said a flare smoked at its Ponca City refinery in Oklahoma because of frigid weather.
Emissions were reported yesterday from the east flare at the plant, according to a filing with the Oklahoma Department of Environmental Quality. Skylar McElhaney, a spokeswoman for the department, said the “issue was resolved.”
Also in Oklahoma, Explorer Pipeline Co., based in Tulsa, canceled Cycle 5 on its oil products line because a destination “couldn’t handle” products. Tom Jensen, a spokesman for the line, said in a telephone interview. He declined to identify the destination.
The discount for conventional, 87-octane gasoline in the Midwest, or Group 3, narrowed 0.5 cent to 2 cents a gallon versus futures on the New York Mercantile Exchange at 2:36 p.m., according to data compiled by Bloomberg. Prompt delivery increased 0.27 cent to $2.4475.
Gulf Coast spot gasoline narrowed its discount 0.37 cent to 6.13 cents a gallon.
The Explorer pipeline isn’t experiencing operational issues, Jensen said.
“We haven’t had any power curtailments this week” because of weather, he said.
The line, which transports gasoline, diesel fuel and jet fuel from the Gulf Coast to the Midwest, was shut earlier this month at the request of the power company during bad weather, Jensen said.
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