PNW Sub Oct Premium Dips as Supply Concerns Ease


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Pacific Northwest Sub Octane Premium basis weakened 
Wednesday (6/3) at the beginning of June as lower offers emerged in the market, 
following last week's sharp rally driven by regional supply concerns.
PNW Sub Octane Premium basis fell by 11cts to a 49.5cts premium to July NYMEX 
ULSD futures from Tuesday's 60.5cts premium, according to DTN data.
Traders reported hearing offers at a 50cts premium to July NYMEX ULSD futures. 
That pressured values after last week's surge in the basis amid refinery 
disruptions, flaring activity and tightening distillate supplies across the 
U.S. West Coast.

   PNW Sub Octane Regular basis also weakened, falling by 2cts to a 28.5cts 
premium to July NYMEX ULSD futures from Tuesday's 30.5cts premium.
Offers for PNW regular were reported at a 29cts premium to July NYMEX ULSD 
futures, pulling the market slightly lower as traders reassessed supply 
conditions at the start of June.




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