Gasoline Slips as Delta Trainer Plant Starts Cracker
Gasoline retreated after a report that an East Coast refinery restarted a production unit.
Futures fell from a seven-day high after Delta Air Lines Inc.’s Monroe Energy LLC subsidiary said it is operating the fluid catalytic cracker at its Trainer, Pennsylvania, refinery after unplanned repairs. The 185,000-barrel-a-day plant serves the Central Atlantic, which includes the New York Harbor delivery point for Nymex product futures.
Gasoline for November delivery fell 2.83 cents, or 1.1 percent, to $2.6225 a gallon at 10:33 a.m. on the New York Mercantile Exchange. Trading volume was 35 percent below the 100-day average for the time of day.
The more actively traded December contract fell 2.64 cents, or 1 percent, to $2.5906 a gallon. November gasoline and diesel contracts will expire at the end of floor trading today.
U.S. retail pump prices, averaged nationwide, were unchanged at $3.279 a gallon, Heathrow, Florida-based AAA said today on its website. Prices are 24.9 cents below a year ago.
Ultra-low-sulfur diesel for November delivery fell 1.63 cents, or 0.5 percent, to $2.9623 a gallon on trading volume that was 21 percent below the 100-day average. December futures dropped 1.82 cents, or 0.6 percent, to $2.9586.
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