Bloomberg News

N.Y. Gasoline Falls for Sixth Straight Day Before Supply Arrives

July 20, 2012

New York gasoline fell for a sixth consecutive day before the scheduled arrival of two tankers in the region, increasing supply of the fuel.

Mitsui OSK Lines Ltd’s Emerald Express is expected to reach New York on July 27, according to AISLive Ltd. ship-tracking data compiled by Bloomberg. The tanker, chartered by Valero Energy Inc., last docked in Milford Haven, U.K.

Fuyo Kaiun Co Ltd.’s Maersk Maya is expected at the same hub July 22, the data showed.

The discount for conventional, 87-octane gasoline in New York Harbor widened 4.25 cents to 10.5 cents a gallon versus futures traded on the New York Mercantile Exchange at 2:33 p.m., according to data compiled by Bloomberg. The fuel was at parity with futures on July 12. Prompt delivery fell 4.02 cents to $2.8362 a gallon versus futures.

The same fuel in the Gulf Coast narrowed its discount 1 cent to 18.25 cents a gallon versus futures.

Valero Energy Corp. (VLO:US)’s McKee refinery in Texas reported emissions July 18, according to a filing with state regulators yesterday. The release occurred after an electrical breaker opening caused a precipitator field to lose power in the fluid catalytic cracker.

There was no material impact on production, Bill Day, a San Antonio-based spokesman for Valero, said in an e-mailed statement.

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.


Soul Searcher
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • VLO
    (Valero Energy Corp)
    • $55.94 USD
    • 2.37
    • 4.24%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus