Gulf Coast gasoline strengthened as ConocoPhillips reported a “process upset” at its Borger refinery in Texas.
The event occurred overnight at the 146,000-barrel-a-day plant, according to a filing with the Texas Commission on Environmental Quality. Rich Johnson, a company spokesman, declined to comment.
The discount for conventional, 87-octane gasoline in the Gulf Coast (MOSGC87P) narrowed 1.87 cents to 12.13 cents a gallon versus futures traded on the New York Mercantile Exchange at 11:57 a.m., according to data compiled by Bloomberg. Prompt delivery fell 6.38 cents to $3.1367 cents a gallon.
The same fuel in New York Harbor weakened 0.75 cent to a discount of 4 cents a gallon versus futures.
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