The premium for Los Angeles gasoline widened versus futures for the first time in three days as Tesoro Corp. (TSO:US) performed work at its Southern California refinery and Exxon Mobil Corp. (XOM:US) reported planned flaring.
Gasoline gained as Tesoro’s 363,000-barrel-a-day Los Angeles refinery performed scheduled maintenance that may cause the Carson section of the complex to flare gases until Nov. 7.
Exxon’s 150,000-barrel-a-day Torrance refinery plans to flare gases from tomorrow through Nov. 10 associated with tank maintenance, Gesuina Paras, a spokeswoman at the refinery, said by telephone today.
The premium for California-blend gasoline, or Carbob, in Los Angeles gained 0.75 cent to 12.25 cents a gallon versus futures traded on the New York Mercantile Exchange, according to data compiled by Bloomberg at 4:11 p.m. New York time. Prompt delivery slipped 0.97 cent to $2.6507 a gallon.
Tesoro’s Los Angeles refinery is performing maintenance amid gasoline supplies at a five-month low on the U.S. West Coast. Regional output of the motor-fuel slipped to a three-week low in the seven days ended Oct. 25, according to the Energy Information Administration, the Energy Department’s statistical arm.
Carbob in San Francisco strengthened 0.5 cent a gallon versus futures to a premium of 2 cents.
The 3-2-1 crack spread of Alaska North Slope crude, Carbob in Los Angeles and state-grade diesel in Los Angeles narrowed 22 cents to $12.13 a barrel.
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