West Spot Gasoline Strengthens on Work at California Refineries
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Los Angeles spot gasoline strengthened for the first time in six days after Tesoro Corp. extended flaring at its Los Angeles refinery and Valero Energy Corp.’s Benicia refinery reported a coker valve failure.
Prompt-delivery of California-blend gasoline, or Carbob, in Los Angeles strengthened 1.25 cents to a discount of 9.25 cents versus futures traded on the New York Mercantile Exchange as 1:55 p.m. New York time. The fuel’s discount had widened for five days on weak demand and high inventories.