Los Angeles Gasoline Weakens After Refinery Operates Normally
Spot gasoline in Los Angeles fell the most in eight weeks after Exxon Mobil Corp. (XOM) said its Torrance refinery was operating after a malfunction yesterday.
California-blend, or Carbob, gasoline in Los Angeles weakened by 15.5 cents to a premium of 35.5 cents a barrel against futures traded on the New York Mercantile Exchange, according to data compiled by Bloomberg. It’s the largest one-day drop since July 17.
Exxon’s 150,000-barrel-a-day Southern California plant was operating after a mechanical issue in one of its units resulted in flaring yesterday, Gesuina Paras, a Torrance-based spokeswoman for the company, said by e-mail. The breakdown didn’t affect production.
California-blend diesel in Los Angeles was unchanged at a 2.75-cent premium to ultra-low-sulfur diesel futures on the Nymex. The fuel in San Francisco was also unchanged at a premium of 6.5 cents.
Low-sulfur diesel in Portland was unchanged at 1.25 cents a gallon more than New York futures.
Conventional, 85-octane gasoline for ethanol blending, or CBOB, on the Gulf Coast weakened by 2.25 cents to 14.75 cents a barrel below Nymex futures. The conventional, 87-octane grade fell by 3.25 cents to 11.75 cents a gallon less than futures.
Ultra-low-sulfur diesel on the Gulf Coast strengthened by 0.25 cent to a discount of 3.13 cents a barrel less than diesel futures on the Nymex.
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