PNW Sub Oct Reg Basis Falls 7cts on Lower Offers


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Pacific Northwest Sub Octane Regular basis weakened 
Monday (6/1), falling from last week's sharp rally as selling interest emerged 
and the market eased from elevated levels.
PNW Sub Octane Regular basis fell by 7cts to  30.5cts premium to July NYMEX 
ULSD futures from Friday's 37.5cts premium, according to DTN data.
An offer was heard at  31cts premium to July NYMEX ULSD futures, pulling the 
market lower after values surged last week on tight regional supply, refinery 
disruptions and flaring activity across the U.S. West Coast.
The decline followed a strong move higher on May 26, when bids were heard at 
24cts, 30cts and last at 36cts premium, lifting the market from a previously 
pegged 16.5cts premium.
Despite Monday's decline, West Coast supply concerns continue to support the 
broader market as traders monitor refinery operations, flaring activity and 
reduced regional production capacity following refinery closures and planned 
shutdowns.




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