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Gulf Coast, NYH Oil Products Moving Mixed at Midday
11/21 11:21 AM
Gulf Coast, NYH Oil Products Moving Mixed at Midday BURLINGTON, Vt. (DTN) -- Oil product prices in New York Harbor and at the Texas Gulf Coast were showing varied results at midday Tuesday tracking choppy trading on the New York Mercantile Exchange oil futures complex. Regional gasoline prices were riding an advance in RBOB futures to solid gains, while diesel fuel values were trading in losing territory reflecting a moderate downturn in December ULSD futures. Cash and futures oil traders have their sights set on the delivery later this afternoon of weekly oil supply data by the American Petroleum Institute. Analysts are in general agreement that API numbers will show a 3.6 million bbl crude oil drawdown, a 1.75 million bbl decline in middle distillates and just under 1 million bbl in domestic gasoline storage levels. NYMEX January West Texas Intermediate futures have moved to the front month slot and were trading $0.37 higher at press time printing $56.79 bbl. December RBOB futures were up 1.13cts trading $1.7551 gallon at last check, and the frontline ULSD contract was trading 0.31cts lower at $1.9290 gallon. Gulf Coast suboctane A4 13.5-lb. CBOB has improved 50pts in basis and 1.63cts in spot price to $1.6851 gallon trading at a 7cts December futures discount for 66th cycle Colonial Pipeline shipment. F5 15.0-lb. RBOB in New York Harbor has been given a 1.38cts boost to a notional $1.7676 gallon by the futures bounce rated at a 1.25cts MERC premium for prompt Buckeye Pipeline shipment. Gulf Coast 62-grade ultra low sulfur diesel fuel has backtracked 1.61cts to $1.8390 gallon changing hands in front of afternoon scheduling for CPL's 66th cycle 8cts below the December ULSD futures print. Ultra low sulfur diesel fuel in the Harbor is offered at a 0.25cts MERC discount with options for prompt barge or BPL transport that trims spot price by 0.41cts to an implied $1.9240 gallon. G.Bud deGorgue, 1.802.524.1784, bud.degorgue@dtn.com, www.dtn.com. (c) 2017 DTN. All rights reserved. tradable spec.