Los Angeles Gasoline Climbs on Exxon Repairs, Tankers CharteredLynn Doan
Spot gasoline in Los Angeles rose to a five-day high against futures as Exxon Mobil Corp.’s Torrance refinery performed repairs and three tankers were scheduled to load fuel on the U.S. West Coast for export.
Exxon’s 150,000-barrel-a-day Torrance plant planned to flare gases today through July 4 related to planned work on a unit, Gesuina Paras, a company spokeswoman at the plant, said by e-mail late yesterday.
“The refinery continues to operate,” Paras said today. “This scheduled maintenance will have no impact on production.”
California-blend gasoline, or Carbob, in Los Angeles climbed 2.75 cents versus futures traded on the New York Mercantile Exchange at 1:58 p.m. to a premium of 12.75 cents a gallon, the highest since June 25, according to data compiled by Bloomberg Prompt-delivery rose a second day, gaining 6.97 cents to $2.9076 a gallon.
The Torm Arawa, chartered by Tesoro Corp. to load refined products for delivery to Chile, was expected to reach Long Beach, California, on July 12, IHS Inc. and ship-fixture data compiled by Bloomberg show.
The Alpine Eternity, hired to deliver fuel to South and Central America, was expected to reach Richmond, California, on July 5, according to IHS data. The Isola Corallo, scheduled by Valero to export product to Chile, is set to arrive at Martinez, California, on July 9.
Carbob in San Francisco slid 2.25 cents against futures to a premium of 10.75 cents a gallon.
Valero Energy Corp.’s 170,000-barrel-a-day Benicia refinery near San Francisco was returning the fluid catalytic cracker to planned rates yesterday after a “brief outage” on June 29, Bill Day, a spokesman at the company’s headquarters in San Antonio, said by e-mail.
Tesoro’s 170,000-barrel-a-day Golden Eagle refinery in Northern California was running normally after reporting an “unexpected emergency shutdown” of a unit June 30, Tina Barbee, a spokeswoman at the company’s San Antonio headquarters, said by e-mail today.
Carbob in San Francisco declined 5 cents against the fuel in Los Angeles, to a discount of 2 cents a gallon.
Retail gasoline in California slipped 0.4 cent to $3.994 a gallon, Heathrow, Florida-based AAA, the nation’s largest motoring organization, said today on its website. Prices are up from $3.749 a year ago.
The premium for spot, conventional gasoline in Portland, Oregon, widened 3 cents to 16 cents a gallon versus futures. Portland gasoline climbed 0.25 cent against Los Angeles Carbob to a premium of 3.25 cents a gallon.
The 3-2-1 crack spread of Alaska North Slope crude, Carbob in Los Angeles and California-grade diesel in Los Angeles widened for a second day, gaining 33 cents to $13.67 a barrel a 3:40 p.m. New York time.