Spot Gasoline Weakens in New York on Trainer FCC Restart
Spot gasoline weakened in New York Harbor after Delta Air Lines Inc. (DAL)’s Monroe Energy LLC subsidiary was said to be restoring a fluid catalytic cracker at the Trainer, Pennsylvania, refinery.
A unit that shut down yesterday after a power failure was restarting, a person with direct knowledge of the plant’s operations said. The person asked not to be identified because the information isn’t public.
The 185,000-barrel-a-day Trainer refinery has a catalytic cracking capacity of 53,000 barrels a day, according to data compiled by Bloomberg. An FCC upgrades vacuum gasoil into lighter petroleum products, including gasoline and jet fuel.
The discount for reformulated, 84-octane gasoline, or RBOB, in New York Harbor slipped 0.25 cent to 19.25 cents a gallon versus futures traded on the New York Mercantile Exchange at 2:16 p.m. Ultra-low-sulfur diesel declined 1.25 cents to a premium of 11.5 cents against heating oil futures, according to data compiled by Bloomberg.
Gasoline supplies in the region, known as PADD 1B, climbed to 33.7 million barrels in the week ended March 15, while distillate stockpiles fell to 19.1 million barrels, Energy Information Administration data showed last week.
The 3-2-1 crack spread in New York Harbor, a measure of refining profitability for gasoline and diesel based on Brent oil in Europe, fell for a fourth day, slipping $1.25 to $13.23 a barrel, the lowest level since March 7.
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