Bloomberg News

Chicago Gasoline Strengthens Amid Marathon Refinery Maintenance

October 26, 2011

Oct. 26 (Bloomberg) -- Chicago gasoline strengthened as Marathon Petroleum Corp. shut units at a Kentucky refinery for work and ConocoPhillips’ Illinois plant flared gases.

Marathon shut the No. 3 crude unit and a vacuum tower at the Catlettsburg refinery for “minor” maintenance that’s expected to last until Nov. 2, according to a state filing. Conoco reported emissions yesterday at its Wood River plant, according to a filing with state regulators.

The discount for conventional, 87-octane gasoline in Chicago narrowed 4.5 cents to a discount of 1 cent a gallon versus futures traded on the New York Mercantile Exchange at 2:41 p.m., according to data compiled by Bloomberg. Prompt delivery fell 4.47 cents to $2.62 a gallon.

The alkylation unit at the Catlettsburg refinery remains down for planned maintenance, Shane Pochard, a spokesman for Marathon, said in an e-mail.

BP Plc shut an alkylation unit at its Toledo, Ohio, refinery after an upset yesterday, the Toledo Division of Environmental Services said in an e-mail yesterday.

The unit will be shut for as many as 10 days, the agency said.

The premium for ultra-low-sulfur diesel at the Chicago hub rose 1.25 cents to 5.75 cents versus heating oil futures. The same fuel in the Midwest, or Group 3, gained 1.5 cents to a 7.63-cent premium versus futures.

--Editors: David Marino, 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.


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