New York conventional gasoline strengthened after production of the grade by refiners in the region declined.
Conventional gasoline production by refiners and blenders on the East Coast dropped 13,000 barrels on a four-week average to 1.74 million barrels a day, the Energy Department reported yesterday. It was the lowest level for the period since May.
The discount for conventional, 87-octane gasoline in New York Harbor narrowed 1.62 cents to 14.13 cents a gallon versus futures traded on the New York Mercantile Exchange at 11:53 a.m., according to data compiled by Bloomberg. Prompt delivery rose 4.84 cents to $2.6838 a gallon.
Production of reformulated fuel by refiners and blenders on the East Coast rose 5,000 barrels to 1.22 million barrels a day on a four-week average basis, government data showed.
The premium for reformulated, 87-octane gasoline, or RBOB, in New York narrowed 0.75 cent to 4.13 cents a gallon.
The same fuel in the Gulf Coast rose 2 cents to a premium to futures of 1.75 cents a gallon. It’s the highest level since July 13.
Flint Hills Resources LLC’s Corpus Christi, Texas, refinery halted production on its alkylation unit, Katie Stavinoha, a Houston-based spokeswoman for the company, said in an e-mail yesterday. She declined to comment today.
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