U.S. Gulf Coast gasoline strengthened to the highest level in almost a month as refiners including Alon USA Partners LP and Western Refining Inc. (WNR:US) began maintenance in Texas.
Alon (ALDW:US)’s Big Spring refinery is conducting an internal inspection of a boiler associated with a fluid catalytic cracker, while Western Refining today entered a turnaround that will reduce rates at the El Paso plant, the companies said. The two have a combined capacity of 198,000 barrels a day, data compiled by Bloomberg show.
Conventional, 87-octane gasoline on the Gulf Coast strengthened 1.25 cent to 15.25 cents a gallon below futures on the New York Mercantile Exchange at 11:59 a.m., the narrowest gap since Jan. 17. Reformulated gasoline to be blended with ethanol, or RBOB, in the region also advanced 1.25 cent to 10.75 cents below futures. Ultra-low-sulfur diesel fuel declined 0.12 cent to 2.38 cents a gallon above heating oil futures.
Supplies of gasoline in the region the week ended Feb. 1 fell 1.61 million barrels to 80.5 million, while distillate stockpiles climbed 739,000 barrels to 41.1 million, Energy Information Administration data show.
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