Gulf Coast Gasoline Weakens as BP Starts Texas City Ultracracker
“The ultracracker will resume normal operations,” BP said in a filing with the Texas Commission on Environmental Quality. The event was scheduled to begin today and last through Feb. 27.
The discount for conventional, 87-octane gasoline in the Gulf Coast (MOSGC87P) widened 0.37 cent to 16 cents a gallon versus futures traded on the New York Mercantile Exchange at 2:04 p.m., according to data compiled by Bloomberg. Prompt delivery rose 2.68 cents to $3.1586 a gallon.
BP’s Texas City refinery can process 475,000 barrels of oil a day, according to data compiled by Bloomberg.
Citgo Petroleum Corp. extinguished a small fire today at the Corpus Christi East refinery in Texas, according to a company statement. There was no disruption to the unit and no damage to equipment, Citgo said.
Conventional, 87-octane gasoline in New York Harbor (MOSNY87P) narrowed its premium 0.88 cent versus futures.
Gasoline stockpiles in Padd 1 (DOESGAS1), the U.S. East Coast, rose 2.19 million barrels to 64.1 million barrels last week, according to the Energy Department. It’s the highest level since February 2011.
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