Bloomberg News

New York, Gulf Gasoline Fall on Biggest Supply Gain Since July

November 28, 2012

Gasoline in the New York Harbor and Gulf Coast declined as U.S. inventories rose by the most since July, with the East Coast leading the gain.

Stockpiles of motor fuel in the U.S. added 3.9 million barrels to 204.3 million in the week ended Nov. 23, the biggest increase since July 20, the Energy Department reported today. Supplies were forecast to add 900,000 barrels, according to the median estimate of 11 analysts surveyed by Bloomberg.

Inventories on the East Coast, which grew for a second week, are at the lowest seasonal level since at least 2003, according to department data compiled by Bloomberg. Stockpiles grew by 1.25 million barrels to 47.4 million, the biggest advance in a month and the largest in the five regions.

Reformulated gasoline to be blended with ethanol in the New York Harbor declined by 0.5 cent to 5 cents above futures on the New York Mercantile Exchange at 12:20 p.m. Conventional gasoline on the Gulf Coast fell 0.75 cent to a discount of 18.25 cents.

Motor gasoline inventories on the U.S. Gulf Coast increased by 902,000 barrels to 74.8 million. Distillate supplies fell 2.06 million to 34.9 million, the biggest drop since April 20.

To contact the reporter on this story: Christine Harvey in New York at charvey32@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


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