Feb. 13 (Bloomberg) -- Gulf Coast gasoline strengthened after ConocoPhilips reported a process upset at the Borger refinery in Texas.
The 154,000-barrel-a-day plant flared gases yesterday after the issue, according to a filing with state regulators. Citgo Petroleum Corp. reported a unit upset at the Corpus Christi refinery, according to a notice by the local emergency planning committee Feb. 10.
The discount for conventional, 87-octane gasoline in the Gulf Coast narrowed 0.25 cent to 2.75 cents a gallon versus futures traded on the New York Mercantile Exchange at 1:54 p.m., according to data compiled by Bloomberg. Prompt delivery rose 2.67 cents to $2.9716 a gallon.
The Corpus Christi plant can process 165,000 barrels of crude a day, according to data compiled by Bloomberg.
The same fuel in New York Harbor held at a premium of 1.38 cents a gallon.
Operations at PBF Energy Inc.’s Delaware City, Delaware refinery are “routine,” Michael Karlovich, a Parsippany, New Jersey-based spokesman, said in a telephone interview. The plant had an upset early yesterday that forced operators to remove feedstock from the coker, according a regulatory filing.
The same gasoline in Chicago saw its discount widen 7 cents to 41 cents a gallon. The fuel was at a discount of 15.5 cents a gallon on Feb. 3. Midwest refiners have maintained production using discounted crude from North Dakota and Canada.
Gasoline inventories in the Midwest rose to 56.4 million barrels in the week ended Feb. 3, according to the Energy Department. It is the highest level for stocks of the fuel since March 5, 2010.
Regular gasoline in the Midwest, or Group 3, weakened 0.5 cent to a discount of 14.25 cents a gallon.
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