San Francisco Gasoline Weakens After Shell Recovers From UpsetDan Murtaugh and Lynn Doan
Spot gasoline in California weakened against futures after Royal Dutch Shell Plc’s Martinez refinery restored operations following a unit upset.
Shell’s 165,000-barrel-a-day refinery in Northern California is running “as planned” after an upset in one of its units, Kimberly Windon, a company spokeswoman in Houston, said by e-mail today. The refinery said in a filing with Contra Costa County Health Services that it shut an unidentified unit on May 6 after a leak on an isolation valve. The plant restarted a coker yesterday, Energy News Today reported.
“The situation was addressed quickly and in a safe manner,” Windon said by e-mail late today.
California-blend gasoline in San Francisco weakened 3.5 cents to 27.5 cents a gallon above futures traded on the New York Mercantile Exchange, according to data compiled by Bloomberg. The same fuel in Los Angeles also dropped 3.5 cents to 35.5 cents above futures.
Conventional gasoline in Portland, Oregon, strengthened 2.5 cents to a premium of 55 cents versus gasoline futures.
Tesoro Corp.’s 125,000-barrel-a-day Anacortes refinery in Washington shut the fluid catalytic cracker earlier this week for unscheduled repairs after discovering a catalyst leak, a person with knowledge of operations at the plant said May 7.
California-blend diesel in San Francisco strengthened by 3.5 cents to 5 cents a gallon more than ultra-low-sulfur diesel futures on the Nymex. The fuel in Los Angeles narrowed its discount by 0.63 cent to 2.25 cents.
Low-sulfur diesel in Portland strengthened 2 cents to 8.5 cents above New York futures.
The 3-2-1 crack spread of Alaska North Slope crude, Carbob in Los Angeles and CARB diesel in Los Angeles narrowed a second day, slipping 0.2 cent to $24.408 a barrel at 4:17 p.m. New York time. The spread, a rough measure of refining margins, is down 16 percent from this year’s high of $29.085 a barrel on Feb. 5.