Bloomberg News

Chicago Gasoline Rises as Lemont Refinery Said to Shut Units

April 27, 2012

Chicago gasoline and diesel rose against futures after Citgo Petroleum Corp. was said to be shutting some units for repairs at its Lemont, Illinois, refinery.

The discount for 87-octane gasoline in Chicago narrowed 4.5 cents to 8.5 cents versus futures traded on the New York Mercantile Exchange at 4:24 p.m., according to data compiled by Bloomberg. It was the smallest discount since April 2.

Citgo is scheduled to shut most of the main production units at its 170,500-barrel-a-day refinery by May 1, said a person familiar with plant operations who isn’t authorized to speak for the refinery and so declined to be identified. The company began shutting units yesterday, the person said.

Citgo is a unit of Petroleos de Venezuela SA, Venezuela’s state-owned oil company.

Ultra-low-sulfur diesel in Chicago strengthened 6 cents to a premium of 3 cents above heating oil futures on the New York exchange. The fuel had been trading at a discount since April 9.

To contact the reporter on this story: Dan Murtaugh in Houston at dmurtaugh@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


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