Bloomberg News

Los Angeles Gasoline Advances as Exxon Repairs Hydrotreater Line

June 12, 2012

California-blend gasoline in Los Angeles gained after Exxon Mobil Corp. (XOM:US) was said to be repairing a hydrotreater line at the Torrance refinery in Southern California after a leak ignited a fire at the unit yesterday.

A contractor was repairing a light gasoil feed line to the hydrotreater at the 150,000-barrel-a-day refinery following the fire yesterday, a person familiar with operations there said. Gesuina Paras, an Exxon spokeswoman at the plant, declined in an e-mail to comment on the details of the blaze.

“The cause of the event is under investigation,” she said. “There was no impact to production and no injuries to personnel.”

The discount for California-blend gasoline, or Carbob, in Los Angeles narrowed 0.75 cent to 5.25 cents a gallon against futures traded on the New York Mercantile Exchange at 4:14 p.m., according to data compiled by Bloomberg. The fuel weakened 2.5 cents yesterday after Tesoro Corp. (TSO:US) finished planned work at the 97,000-barrel-a-day Los Angeles refinery.

Carbob in San Francisco dropped 3 cents to 5 cents a gallon below gasoline futures on speculation that supplies of the motor fuel increased last week.

Gasoline inventories on the U.S. West Coast, known as the Padd 5 region, rose by the most since January, jumping 5 percent to 27 million barrels in the week ended June 8, according to the American Petroleum Institute.

California-blend, or CARB, diesel in Los Angeles slipped 0.25 cent to a 4.25-cent-a-gallon premium against Nymex heating oil futures. The same fuel in San Francisco was unchanged at a 6.5-cent premium.

The discount for conventional, 87-octane gasoline in Portland, Oregon, widened 2 cents to 7 cents a gallon below futures. Low-sulfur diesel in Portland gained 2 cents to a premium of 5 cents a gallon versus heating oil futures.

To contact the reporter on this story: Lynn Doan in San Francisco at ldoan6@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)
    • $104.28 USD
    • 0.03
    • 0.03%
  • TSO
    (Tesoro Corp)
    • $59.81 USD
    • 1.78
    • 2.98%
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