Bloomberg News

Gulf Coast Gasoline Strengthens After Exxon Hydrocracker Shut

May 11, 2012

Gulf Coast gasoline rose versus futures as Exxon Mobil Corp. (XOM:US) shut a hydrocracker at its Beaumont refinery in Texas.

The unit was closed after a recycle compressor tripped at the plant, according to a filing late yesterday with the Texas Commission on Environmental Quality.

The discount for regular, 87-octane gasoline in the Gulf Coast narrowed 0.62 cent to 17.13 cents a gallon versus futures traded on the New York Mercantile Exchange at 12:09 p.m., according to data compiled by Bloomberg. Prompt delivery fell 0.52 cent to $2.8275 a gallon.

Planned maintenance is under way at the Phillips 66 refinery in Borger, Texas, Rich Johnson, a Houston-based spokesman for the company, said in an e-mailed statement.

The same fuel in Chicago strengthened 6 cents to a discount of 3 cents versus futures. It is the highest level since May 1.

Citgo Petroleum Corp. released sulfur dioxide to a flare after a mechanical failure at its refinery in Lemont, Illinois, according to a filing with the National Response Center. The release at 7:30 p.m. local time yesterday wasn’t secured, the filing showed.

The plant had a release of an unknown amount of natural gas and propane from a flare after a “power blip,” according to a center filing on May 8.

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

  • XOM
    (Exxon Mobil Corp)
    • $95.82 USD
    • 0.21
    • 0.22%
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