Chicago diesel rose to the highest level in more than two weeks as Citgo Petroleum Corp. was said to be planning the shutdown of most production units at the Lemont refinery in Illinois next month.
Work at the 170,500-barrel-a-day plant may last until the first week in June, said a person familiar with refinery operations who declined to be identified because he is not authorized to speak for the plant. The equipment includes a crude unit, coker, fluid catalytic cracker and alkylation unit, the person said.
The differential for ultra-low-sulfur diesel in Chicago (CHCGUTLS) strengthened 6.5 cents to parity with heating oil futures traded on the New York Mercantile Exchange at 1:14 p.m., according to data compiled by Bloomberg. Prompt delivery gained 5.43 cents to $3.2353 a gallon.
The discount for conventional, 87-octane gasoline in the Gulf Coast (MOSGC87P) widened 0.13 cent versus futures to 13.88 cents a gallon.
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