Bloomberg News

Chicago Gasoline Strengthens After Upset at Joliet Oil Refinery

April 16, 2012

Chicago gasoline strengthened after Exxon Mobil Corp. reported an operational upset at the Joliet refinery in Illinois.

The plant flared gases as a result of the upset yesterday, according to a filing with the Illinois Emergency Management Agency. Tricia Simpson, an Exxon spokeswoman, said the filing was accurate and declined to comment on details.

The discount for conventional, 87-octane gasoline in Chicago (CHCG87PC) strengthened 18 cents to 6 cents a gallon versus futures trading on the New York Mercantile Exchange at 2:37 p.m., according to data compiled by Bloomberg. Prompt delivery rose 10.28 cents to $3.2089 a gallon.

The same fuel in the Gulf Coast (MOSGC87P) held at a discount of 14.5 cents versus futures as refineries experienced weather-related issues.

“Some electricity customers in the Corpus Christi area have experienced voltage dips and lightning strikes as a storm front comes through,” said Andy Heines, a spokesman for American Electric Power Co. Inc. (AEP:US), which distributes electricity in Corpus Christi.

Valero Energy Corp. (VLO:US) said a temporary power failure at its Corpus Christi East refinery in Texas affected a compressor. The 115,000-barrel-a-day plant had a “weather-related power blip affecting a compressor associated with the coker,” Bill Day, a Valero spokesman based in San Antonio, said in an e-mail.

Flint Hills Resources LLC reported flaring at the West plant in Corpus Christi, according to a notice from the Corpus Christi local emergency planning committee.

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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Companies Mentioned

  • AEP
    (American Electric Power Co Inc)
    • $52.62 USD
    • -0.70
    • -1.33%
  • VLO
    (Valero Energy Corp)
    • $47.49 USD
    • -0.72
    • -1.52%
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