Los Angeles Gasoline Strengthens Amid Flaring as Contract Rolls
California-blend gasoline on the spot market in Los Angeles strengthened against futures as a Southern California refinery planned to flare gases and the fuel began trading against the less-expensive September contract.
Carbob gasoline began trading today against September futures, which are 3.01 cents a gallon cheaper than August.
Carbob in Los Angeles strengthened by 12.5 cents to a premium of 2 cents a gallon over futures traded on the New York Mercantile Exchange at 3:09 p.m., according to data compiled by Bloomberg.
The fuel in San Francisco rose 10.5 cents to a discount of 6 cents a gallon. Conventional, 84-octane gasoline in Portland, Oregon, gained 4.5 cents to a 1-cent discount.
State-blend CARB diesel in Los Angeles weakened by 0.25 cent to a 1.75-cent-a-gallon discount to ultra-low-sulfur diesel futures on the Nymex. The fuel in San Francisco gained 0.63 cent to a discount of 0.75 cent a gallon. Low-sulfur diesel in Portland strengthened by 2.75 cents to a 0.75-cent premium.
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