Bloomberg News

New York Gasoline Weakens With East Coast Imports to Increase

October 13, 2011

Oct. 13 (Bloomberg) -- New York gasoline slipped as shipments from Europe to the U.S. were set to increase over the next two weeks.

Twenty-nine tankers were booked or are due to be chartered for loading in the period, according to the median estimate in a Bloomberg News survey of five shipbrokers, one owner and two traders yesterday. That’s nine more cargoes than last week, previous survey data show.

The premium for conventional, 87-octane gasoline in New York Harbor fell 0.75 cent to 10.5 cents versus futures traded on the New York Mercantile Exchange at 2 p.m., according to data compiled by Bloomberg. Prompt delivery 0.05 cent to $2.8617 a gallon.

Colonial Pipeline Co. is allocating capacity on its gasoline Line 1 for Cycle 59 for the segment north of Collins, Mississippi, the company said in a notice to shippers.

Colonial operates the largest pipeline linking U.S. Gulf Coast refiners to East Coast markets.

The premium for gasoline in the Gulf Coast dropped 1 cent to 1 cent a gallon versus futures.

The same fuel in Chicago widened its discount 0.25 cent to 7.75 cents against future.

--With assistance from Rob Sheridan in London. Editor: Bill Banker, Charlotte Porter

To contact the reporter on this story: Paul Burkhardt in New York at pburkhardt@bloomberg.net.

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.


Later, Baby
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus