Bloomberg News

New York Gasoline Weakens as Imports Increase to Six-Month High

July 25, 2012

New York gasoline weakened after a government report showed regional imports of the fuel rose to the highest level in six months.

Gasoline imports for PADD 1 increased 368,000 barrels a day to 964,000 barrels last week, the highest level since Jan. 27, according to the Energy Department.

The premium for reformulated, 87-octane gasoline in New York Harbor fell 1.12 cents to 4.88 cents a gallon versus futures traded on the New York Mercantile Exchange at 1:28 p.m., according to data compiled by Bloomberg. Prompt delivery fell 7.21 cents to $2.8127 a gallon.

Gasoline stocks on the East Coast gained 1.9 million barrels to 54.1 million, the highest level in four weeks, according to government data.

The same fuel in the Gulf Coast held at a discount of 0.13 cent versus futures.

Motiva Enterprises LLC has restarted the fluid catalytic cracker at its 255,000-barrel-a-day Convent, Louisiana, refinery, according to a person familiar with the unit’s operation.

The unit is running after being repaired, said the person, who declined to be identified because he isn’t authorized to speak for the refinery.

Flint Hills Resources LLC’s Corpus Christi, Texas, refinery had a release on the flare line in its alkylation unit late yesterday, according to Katie Stavinoha, a Houston-based spokeswoman for the company. Plant workers isolated the release and the unit is stable, she said.

To contact the reporter on this story: Paul Burkhardt in New York at pburkhardt@bloomberg.net.

To contact the editor responsible for this story: Bill Banker at bbanker@bloomberg.net


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