N.Y. Gasoline Gains as European Prices Strengthen, Imports Fall
New York gasoline strengthened as European prices rose for the fuel and after imports to the U.S. East Coast declined.
Eurobob gasoline for loading in Amsterdam-Rotterdam-Antwerp traded from $1,158 to $1,174 a metric ton, according to a survey of brokers and traders monitoring the Argus Bulletin Board. That’s up from $1,148 to $1,160 yesterday. Gasoline imports to the East Coast fell 33 percent to 506,000 barrels a day last week, according to the Energy Department.
The discount for conventional gasoline to be blended with ethanol, or CBOB, in New York Harbor narrowed 1 cent to 1.25 cents a gallon versus futures traded on the New York Mercantile Exchange at 11:48 a.m., according to data compiled by Bloomberg. Prompt delivery rose 5.52 cents to $3.3282 a gallon.
Gasoline inventories on the East Coast fell 1.9 million barrels to 56.9 million barrels, the government reported yesterday.
The discount for regular gasoline in the Gulf Coast (MOSGC87P) narrowed 0.88 cent to 14.5 cents a gallon.
Western Refining Inc. (WNR) shut a unit at its El Paso, Texas, refinery after a cooling water exchanger developed a tube leak, according to a filing with state regulators yesterday.
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