US Cash Products-Chicago gasoline, diesel gain after refinery reports outage

Reuters

US Cash Products-Chicago gasoline, diesel gain after refinery reports outage

2024 7월 16, 오후 10:17 GMT

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NEW YORK, July 16 (Reuters) -Cash differentials for gasoline and diesel surged in Chicago on Tuesday after Exxon Mobil's 251,800 barrel-per-day Joliet refinery in Illinois reported a power outage amid heavy rains and tornadoes in the region, traders said.

The Joliet refinery reported flaring and shut at least one unit following the power outage, according to a filing with the Illinois Emergency Management Agency. Exxon did not immediately respond to requests for details.

Major refinery outages typically push physical market prices higher as they tighten supplies. Chicago CBOB gasoline CBOB-DIFF-MC rose 10.25 cents to trade 17.75 cents a gallon below the RBOB futures benchmark RBc1 on the New York Mercantile Exchange, traders said.

Chicago ultra-low sulfur diesel ULSD-DIFF-MC gained 6 cents and traded 15 cents a gallon below the ULSD futures benchmark HOc1.

Elsewhere in the Midwest, Group 3 V-grade gasoline RUV-DIFF-G3 gained a cent to trade 17.75 cents below futures.

Group 3 diesel ULSD-DIFF-G3 was little changed at 15.25 cents lower than the benchmark.

Gasoline trade in the U.S. Gulf Coast rolled over to the 42nd annual cycle of deliveries to New York Harbor on the Colonial Pipeline. Distillate trade rolled over to the 41st cycle.

Gulf Coast M2 conventional gasoline RU-DIFF-USG gained 1.25 cents to trade 13.5 cents below futures, market participants said. A2 CBOB gasoline CBOB-DIFF-USG gained a cent to 21.75 cents per gallon below futures, traders said.

Gulf Coast 62-grade ULSD ULSD-DIFF-USG gained 0.10 cent to 7.25 cents a gallon below futures.

In New York Harbor, M2 conventional gasoline RU-DIFF-NYH was little changed at a cent a gallon below futures, traders said.

Diesel for delivery in the Harbor ULSD-DIFF-NYH was also unchanged at 1.75 cents per gallon below futures, they said.

RBOB futures fell 1.41 cents to settle at $2.4775 a gallon on Tuesday, their lowest since June 18.

ULSD futures dropped 4.48 cents to $2.4688 a gallon, the lowest since June 17.

Both the renewable fuel (D6) credits RIN-D6-US and biomass-based (D4) credits RIN-D4-US for 2024 traded at 65 cents each on Tuesday, traders said.

			Latest day
	Timing	NYMEX Contract	Bid	Offer	Change
U.S. GULF COAST <0#P-USG, PPIM> * Scheduling
A2 CBOB gasoline CBOB-DIFF-USG	Cycle 42	August RBOB	-22.00	-21.50	1.00
M2 conventional gasoline RU-DIFF-USG	Cycle 42	August RBOB	-13.75	-13.25	1.25
62-grade ULSD ULSD-DIFF-USG	Cycle 41	August HO	-7.50	-7.00	0.10
54-grade jet fuel JET-DIFF-USG	Cycle 41	August HO	-7.00	-6.50	0.50
Heating oil HO-DIFF-USG	Cycle 41	August HO	-20.70	-20.00	-0.10

NEW YORK HARBOR <0#P-NYH, PPIL>			Bid	Offer	Change
M2 conventional gasoline RU-DIFF-NYH	Prompt	August RBOB	-1.25	-0.75	0.00
F1 RBOB RBOB-DIFF-NYH	Prompt	August RBOB	2.00	3.00	-0.75
ULSD ULSD-DIFF-NYH	Prompt	August HO	-2.00	-1.50	0.00
Heating oil HO-DIFF-NYH	Prompt	August HO	-14.00	-13.00	0.00
Jet fuel JET-DIFF-NYH	Prompt	August HO	-0.50	0.50	0.5

MIDWEST 0#P-G3, 0#P-MC, IHPROD/MIDCO			Bid	Offer	Change
Chicago CBOB gasoline CBOB-DIFF-MC	Cycle 3	August RBOB	-18.00	-17.50	10.25
Chicago ULSD ULSD-DIFF-MC	Cycle 3	August HO	-15.25	-14.75	6.00
Group Three gasoline RUV-DIFF-G3		August RBOB	-18.00	-17.50	1.00
Group Three ULSD ULSD-DIFF-G3		August HO	-15.50	-15.00	0.00