Los Angeles Gasoline Rises as Valero Refinery Reports Flaring
Spot gasoline in Los Angeles gained as Valero Energy Corp. (VLO)’s refinery in Wilmington, California, reported flaring because of process and storage issues.
There was no material impact to production at the 78,000- barrel-a-day refinery, said Bill Day, a spokesman based in Valero’s San Antonio headquarters.
California-grade gasoline, or Carbob, in Los Angeles increased 1 cent to a premium of 9.5 cents a gallon over futures traded on the New York Mercantile Exchange at 4:01 p.m, according to data compiled by Bloomberg. Carbob in San Francisco increased 6 cents to a premium of 0.5 cent.
California-grade, or CARB, diesel in Los Angeles climbed 2 cents to a premium of 5.5 cents a gallon to heating oil futures. CARB in San Francisco fell 5 cents to a discount of 2.5 cents a gallon.
Conventional 84 sub-octane gasoline to be blended with ethanol in Portland, Oregon, gained 1 cent to a discount of 16.5 cents a gallon to gasoline futures. Low-sulfur diesel in Portland fell 4.5 cents to a premium of 7.5 cents to heating oil futures.
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