Midwest Spot Gasoline Falls on Unit Restart at Wood RiverChristine Harvey
Gasoline weakened the most in two weeks in the U.S. Midwest as Phillips 66 restarted a unit at its Wood River refinery near St. Louis.
Phillips 66 resumed work by an alkylation unit at the 356,000-barrel-a-day plant on Jan. 25 after shutting Jan. 22, a person familiar with the turnaround schedule said. A benzene extractor, a part of the unit, is expected to halt Feb. 28 for 22 days of work, said the person, who asked not to be identified because the information isn’t public.
Rich Johnson, a Phillips 66 spokesman based in Houston, declined to comment on the alkylation unit or the status of today’s operations at Wood River. The plant is the second-largest in the Midwest, behind BP Plc’s Whiting refinery, which has a capacity of 420,000 barrels a day, data compiled by Bloomberg show.
Conventional gasoline in the Group 3 region slipped 0.5 cent to 17 cents a gallon below futures on the New York Mercantile exchange at 2:36 p.m. It was the biggest slide and first decline since Jan. 16.
Ultra-low-sulfur diesel in the region advanced 0.38 cent to 2.75 cents a gallon below heating oil futures.
Conventional gasoline to be blended with ethanol in the U.S. Gulf Coast dropped 1.2 cents to 20.5 cents below futures, while reformulated gasoline slipped 1 cent to trade at an 18-cent discount. Ultra-low-sulfur diesel in the region strengthened 0.12 cent to 0.13 cent under heating oil futures.
The same diesel was unchanged at a premium of 5 cents in New York. The discount of reformulated, 84-octane gasoline narrowed 0.38 cent to 0.75 cent.