US Cash Products-Chicago gasoline slides on selling pressure
Dec 16 (Reuters) -Cash differentials for gasoline slipped in the Chicago spot market on Monday after a refiner offered supplies, traders said.
Chicago CBOB gasoline CBOB-DIFF-MC fell 7 cents, trading 18 cents per gallon below the gasoline futures benchmark on the New York Mercantile Exchange RBc1, market participants said.
Chicago ultra-low sulfur diesel ULSD-DIFF-MC fell 2 cents, trading 23 cents per gallon below diesel futures on the NYMEX HOc1.
Elsewhere in the Midwest, Group 3 V-grade gasoline RUV-DIFF-G3 gained 1 cent, trading 13 cents lower than the benchmark.
Group 3 diesel ULSD-DIFF-G3 fell half a cent, trading 19 cents lower than the benchmark.
U.S. Gulf Coast M4 conventional gasoline RU-DIFF-USG gained three quarters of a cent, trading 2.25 cents lower than the gasoline futures benchmark on the NYMEX, market participants said.
A4 CBOB gasoline CBOB-DIFF-USG gained 1 cent to trade at 9.75 cents per gallon above futures, traders said.
Gulf Coast 62-grade ULSD ULSD-DIFF-USG gained 1.8 cents, trading 7.5 cents per gallon below the ultra-low sulfur diesel futures contract on the NYMEX.
In New York Harbor, M4 conventional gasoline RU-DIFF-NYH was little changed, trading 7.25 cents per gallon above futures, traders said.
Diesel for delivery in New York Harbor ULSD-DIFF-NYH was also little changed, trading 2 cents per gallon below futures, traders said.
The RBOB futures contract on NYMEX RBc1 fell 2.61 cents to settle at $1.96 a gallon on Monday. NYMEX ultra-low sulfur diesel futures HOc1 fell 0.6 cents to settle at $2.264 a gallon.
Renewable fuel (D6) credits RIN-D6-US for 2024 traded between 63 and 61 cents each on Monday, compared with 62.75 cents in the previous session, traders said.
Biomass-based (D4) credits RIN-D4-US traded between 62 and 61 cents each, down from 62.75 cents each previously, traders said.
Latest day | |||||
Timing | NYMEX Contract | Bid | Offer | Change | |
U.S. GULF COAST <0#P-USG, PPIM> * Scheduling | |||||
A4 CBOB gasoline CBOB-DIFF-USG | Cycle 72 | December RBOB | -10.00 | -9.50 | 1.25 |
M4 conventional gasoline RU-DIFF-USG | Cycle 72 | January RBOB | -2.50 | -2.00 | 1.00 |
62-grade ULSD ULSD-DIFF-USG | Cycle 71 | December HO | -7.75 | -7.25 | 1.80 |
54-grade jet fuel JET-DIFF-USG | Cycle 72 | December HO | -13.00 | -12.75 | -2.00 |
Heating oil HO-DIFF-USG | Cycle 72 | December HO | -22.50 | -21.00 | 0.75 |
NEW YORK HARBOR <0#P-NYH, PPIL> | Bid | Offer | Change | ||
M4 conventional gasoline RU-DIFF-NYH | Prompt | December RBOB | 6.75 | 7.75 | 0 |
F4 RBOB RBOB-DIFF-NYH | Prompt | December RBOB | -1.00 | 1.00 | 0 |
ULSD ULSD-DIFF-NYH | Prompt | December HO | -2.25 | -1.75 | 0 |
Heating oil HO-DIFF-NYH | Prompt | December HO | -11.00 | -10.00 | 0 |
Jet fuel JET-DIFF-NYH | Prompt | December HO | -8.00 | -7.50 | -1.50 |
MIDWEST 0#P-G3, 0#P-MC, IHPROD/MIDCO | Bid | Offer | Change | ||
Chicago CBOB gasoline CBOB-DIFF-MC | Cycle 2 | December RBOB | -18.25 | -17.75 | -7.00 |
Chicago ULSD ULSD-DIFF-MC | Cycle 2 | December HO | -23.25 | -22.75 | -2.00 |
Group Three gasoline RUV-DIFF-G3 | December RBOB | -13.25 | -12.75 | 1.00 | |
Group Three ULSD ULSD-DIFF-G3 | December HO | -19.25 | -18.75 | -0.50 | |
Reporting by Nicole Jao in New York; Editing by Jamie Freed
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