San Francisco Gasoline Climbs After Tesoro, Valero Restore Power
Spot gasoline in San Francisco gained against futures as Tesoro Corp. (TSO)’s Golden Eagle refinery returned to normal operations after a power failure and Valero Energy Corp. (VLO)’s Benicia plant restored electricity to its products rack.
Tesoro’s 170,000-barrel-a-day Golden Eagle refinery was running normally today after a power failure on May 16 shut multiple units, Tina Barbee, a Tesoro spokeswoman at the company’s headquarters in San Antonio, said by e-mail. Valero Energy Corp.’s Benicia plant had a “brief power interruption” at its rack over the weekend, said Bill Day, a company spokesman.
“Power was restored quickly, and there were no issues with supplying customers,” Day, based at Valero’s headquarters in San Antonio, said by e-mail today.
California-blend gasoline in San Francisco gained against futures traded on the New York Mercantile Exchange for the second straight day, rising by 3 cents to a premium of 13 cents a gallon at 4:18 p.m. East Coast time, data compiled by Bloomberg show.
State-blend, or CARB, diesel in San Francisco, which rolled into trading for June delivery today, weakened by 4.5 cents against July ultra-low-sulfur diesel futures on the Nymex to a premium of 3.5 cents a gallon.
Carbob gasoline in Los Angeles climbed 2 cents versus futures to a premium of 9 cents a gallon.
BP Plc (BP/)’s Carson refinery in Southern California took the No. 4 crude unit out of service last week to fix a valve leak, a person with knowledge of operations said May 16. It was running two other crude units at reduced rates, said the person, who asked not to be identified because the information isn’t public.
California-blend diesel in Los Angeles, which also rolled into June trading, strengthened 0.25 cent versus ULSD futures to a discount of 5 cents a gallon.
Phillips 66 (PSX)’s 100,000-barrel-a-day Ferndale refinery in Washington state is running at reduced rates during repairs on a compressor at the fluid catalytic cracker, a person familiar with operations at the plant said today. The work is expected to last about a week, said the person, who asked not to be identified because the information isn’t public.
The 3-2-1 crack spread of Alaska North Slope crude, Carbob in Los Angeles and CARB diesel in Los Angeles widened for a second day, gaining 28 cents to $17.79 a barrel at 4:24 p.m. New York time. The spread, a rough measure of refining margins, is down 39 percent from this year’s high of $29.09 on Feb. 5.
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