Spot gasoline in San Francisco declined against futures for the first time in five days as refineries in the western U.S. finished repairs.
Tesoro Corp. (TSO:US)’s 170,000-barrel-a-day Golden Eagle plant in Northern California finished unscheduled work, according to an Oct. 11 statement from the San Antonio-based company. An alkylation unit was being restarted Oct. 10, said a person with direct knowledge of operations who asked not to be identified because the information isn’t public.
BP Plc (BP/) finished planned repairs at the 234,000-barrel-a-day Cherry Point plant in Washington state, a person familiar with work there said Oct. 11.
The premium for California-blend gasoline, or Carbob, in San Francisco narrowed by 2 cents to 17 cents a gallon versus futures traded on the New York Mercantile Exchange, according to data compiled by Bloomberg. Prompt delivery declined 2.13 cents to $2.8368 a gallon.
The same fuel in Los Angeles also weakened 2 cents to a premium of 17 cents a gallon.
The 97,000-barrel-a-day Wilmington section of Tesoro’s Los Angeles-area refinery reported plans to flare gases yesterday through tomorrow, an Oct. 12 notice with the South Coast Air Quality Management District showed. The flaring isn’t related to a breakdown, according to the filing.
The Los Angeles refinery was running normally today, Tina Barbee, a Tesoro spokeswoman in San Antonio, said by e-mail.
Conventional gasoline in Portland, Oregon, a benchmark for the U.S. Pacific Northwest, declined 1 cent versus futures to a discount of 3.5 cents a gallon.
The 3-2-1 crack spread of Alaska North Slope crude, Carbob in Los Angeles and state-grade diesel in Los Angeles narrowed $1.24 a barrel to $15.22. The spread, a rough indication of refining profitability, has broadened 30 percent this month.
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