Gasoline for prompt delivery strengthened in New York Harbor, the U.S. Gulf Coast and Midcontinent regions today.
The discount to April gasoline futures on the New York Mercantile Exchange for Gulf 87-grade gasoline narrowed 1.75 cents to 16.75 cents a gallon at 3:35 p.m., according to data compiled by Bloomberg. The prompt-delivery price rose 4.91 cents to $3.1871 a gallon.
In New York Harbor, the discount for conventional gasoline to be blended with ethanol, or CBOB, narrowed 3 cents to 22.5 cents. The price for immediate delivery increased 6.16 cents to $3.1296 a gallon.
Midcontinent 87-grade gasoline gained 1.25 cents to trade at a 17.5-cent futures discount. The prompt price rose 3.47 cents to $3.1796 a gallon. The fuel in Chicago strengthened 0.5 cent to a 9.5-cent discount and the price gained 2.72 cents to $3.2596 a gallon.
Transactions were lower than usual because many traders were attending the American Fuel & Petrochemical Manufacturers conference in San Diego, said Jim Mosby, supply manager at ADMO Energy LLC, a supply consultant in Kansas City, Missouri.
“The last couple of days it’s been a very illiquid market,” Mosby said.
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