Spot gasoline in San Francisco strengthened against futures traded in New York by the most in two weeks as refineries performed maintenance.
California-blend gasoline, or Carbob, in San Francisco gained 4.5 cents to a discount of 23 cents a gallon against futures traded on the New York Mercantile Exchange at 1:24 p.m. East Coast time, data compiled by Bloomberg show. That’s the biggest increase for the fuel since Jan. 8.
Chevron Corp. (CVX:US)’s 279,000-barrel-a-day El Segundo plant, California’s largest refinery, is conducting work on process units, as are Tesoro Corp. (TSO:US)’s Los Angeles plant and BP Plc (BP/)’s Carson refinery.
Carbob in Los Angeles was unchanged at a discount of 5.5 cents a gallon against futures.
Valero Energy Corp. (VLO:US)’s 78,000-barrel-a-day Wilmington plant near Los Angeles resumed service by the fluid catalytic cracker and the alkylation unit, which were shut Dec. 21 to repair a leak, Bill Day, a spokesman at the company’s headquarters in San Antonio, said by e-mail on Jan. 18.
Carbob in San Francisco narrowed its discount to Los Angeles by 4.5 cents to 17.5 cents a gallon, the smallest gap since Jan. 10. It weakened to a record 32.5 cents a gallon below Los Angeles on Jan. 14.
California-blend, or CARB, diesel in Los Angeles gained 0.25 cent to a 7.5-cent-a-gallon premium to Nymex heating oil futures. The same fuel in San Francisco strengthened 4.5 cents to a premium of 2.5 cents a gallon against futures.
In Portland, low-sulfur diesel was unchanged at a discount of 9 cents a gallon against heating oil futures, while conventional, 84-octane gasoline weakened 3 cents to 23 cents a gallon below the Nymex gasoline contract.
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