Los Angeles Carbob Weakens on Higher West Coast Inventory
Gasoline in Los Angeles weakened for a second day after the government said motor-fuel supplies increased on the West Coast.
Inventories rose 0.1 percent to 36.2 million barrels in the week ended Jan. 11, the fourth consecutive weekly gain, the U.S. Energy Information Administration said today. Production climbed 9.7 percent from a two-year low a week earlier, according to the Energy Department’s statistical arm.
California-blend gasoline, or Carbob, in Los Angeles narrowed 2 cents to a premium of 3 cents a gallon against futures traded on the New York Mercantile Exchange at 4:10 p.m., according to data compiled by Bloomberg. The fuel in San Francisco weakened 0.5 cent to 16.5 cents a gallon below futures.
Conventional, 84-octane gasoline in Portland, Oregon, dropped 0.5 cent to a discount of 21 cents a gallon below New York futures. Low-sulfur diesel there weakened 2 cents to a discount of 5.5 cents a gallon.
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