Bloomberg News

Gulf Gasoline Drops After Conoco’s Borger Refinery Starts Unit

February 27, 2012

Gulf Coast gasoline slipped after ConocoPhillips restarted a catalytic cracker at its Borger refinery in Texas.

Conoco started the unit yesterday after an upset earlier in the day forced a shutdown, according to a filing with the Texas Commission on Environmental Quality. The plant has a capacity of 154,000 barrels a day, according to data compiled by Bloomberg.

The discount for conventional, 87-octane gasoline on the Gulf Coast (MOSGC87P) widened 0.75 cents to 16.75 cents a gallon versus futures traded on the New York Mercantile Exchange at 2:09 p.m., according to data compiled by Bloomberg. Prompt delivery fell 3.19 cents to $3.1328 a gallon.

The same fuel in New York Harbor (MOSNY87P) strengthened 0.62 cent to a premium to futures of 0.75 cent a gallon.

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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