Chicago Diesel Reaches Seven-Week High on PBF Toledo Cuts
PBF cut production rates on some units and closed a fluid catalytic cracker after a fire Jan. 30. The refinery, which can process 170,000 barrels a day, may take “several weeks” to operate at planned rates, the company said in a statement.
Supplies of distillates in the Midwest fell 1.07 million barrels to 30.3 million in the week ended Jan. 25, the lowest seasonal level since 2008, according to Energy Information Administration data. Refineries in the region, known as PADD 2, processed less crude and other feedstocks for the third consecutive week.
Ultra-low-sulfur diesel in Chicago rose 1.5 cents to 3 cents a gallon above heating oil futures on the New York Mercantile Exchange at 2:32 p.m. New York time. That’s the fuel’s highest premium since Dec. 11, according to data compiled by Bloomberg.
Conventional gasoline to be blended with ethanol, or CBOB, was unchanged at the time after climbing 7 cents yesterday to 13.5 cents below futures, its narrowest discount since Dec. 7.
In the midcontinent, or Group 3 market, ULSD gained 2.25 cents to a 1-cent premium.
Reformulated gasoline in New York Harbor, or RBOB, increased 0.75 cent to parity with futures at 3:40 p.m. as Philadelphia Energy Solutions shut units at the largest East Coast refinery for planned maintenance and a fluid catalytic cracker at Delta Air Lines Inc.’s Trainer plant will be down until next week.
ULSD at the trading hub strengthened 0.25 cent to 6.75 cents above futures.
In the Gulf Coast, RBOB weakened 0.75 cent to 16.5 cents below futures.
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