Bloomberg News

Gulf Gasoline Strengthens After Flint Hills Shuts Hydrocracker

June 28, 2012

Gulf Coast gasoline strengthened after Flint Hills Resources LLC shut a hydrocracker at its Corpus Christi refinery in Texas.

The 305,000-barrel-a-day refinery flared gases yesterday as the unit was brought down after a leak was discovered in a heat exchanger, according to a filing with the Texas Commission on Environmental Quality.

The premium for reformulated, 87-octane gasoline in the Gulf Coast rose 0.25 cent to 7 cents a gallon versus futures traded on the New York Mercantile Exchange at 12:57 p.m., according to data compiled by Bloomberg. Prompt delivery slipped 1.55 cents to $2.5509 a gallon.

Petroleos de Venezuela SA’s Amuay refinery in Falcon state is operating after an incident at a treatment plant, a company offical, who isn’t authorized to speak publicly, said today in a telephone interview.

The refinery was never halted because of the incident, the official said, without providing additional details.

Reformulated, 87-octane gasoline in New York Harbor fell 0.25 cent to 6.75 cents a gallon versus futures. Stocks of reformulated gasoline, or RBOB, rose a second week on the East Coast, climbing 537,000 barrels to 17.2 million last week, Energy Department data show.

The discount for conventional, 87-octane gasoline in Chicago widened 1.25 cents to 7 cents a gallon. The same fuel in the Midwest, or Group 3, weakened 6 cents to a discount of 11.5 cents.

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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