Bloomberg News

Chicago Diesel Strengthens as BP Refinery Starts Planned Work

October 31, 2011

Oct. 31 (Bloomberg) -- Chicago ultra-low-sulfur diesel strengthened after BP Plc’s Whiting refinery in Indiana shut a crude unit over the weekend for planned maintenance.

The fuel’s premium rose 0.5 cent to 9.25 in Chicago versus heating oil futures traded on the New York Mercantile Exchange at 4:23 p.m., according to data compiled by Bloomberg. Prompt delivery fell 0.31 cent to $3.1508 a gallon.

The Whiting unit shut for work is known as Pipestill No. 12, according to a person familiar with the operations who declined to be identified because the information isn’t public.

“Whiting refinery will undergo planned maintenance that will affect approximately half its crude capacity for the expected one-month duration of the activity,” Byron Grote, BP’s chief financial officer, said on an Oct. 25 earnings call.

Exxon Mobil Corp. is starting a unit at its Baton Rouge refinery in Louisiana. The unit was shut temporarily yesterday following an electrical malfunction, Stephanie Cargile, a company spokeswoman, said in an e-mail.

The discount for conventional, 87-octane gasoline in the Gulf Coast widened 0.13 cent to 2.13 cents a gallon. Prompt delivery fell 4.94 cents to $2.5767 a gallon.

--Editors: Charlotte Porter, Bill Banker

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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