West Coast Spot Product Prices End Higher on Futures Gains
OAKHURST, N.J. (DTN) --- West Coast spot refined product prices started the
new trade week higher across the board as mixed basis met with gains by New
York Mercantile Exchange RBOB and ULSD futures.
Benchmark oil futures recouped earlier losses supported by worries about
Middle East tension while benchmark RBOB futures led in gains thanks to record
strong demand levels.
NYMEX May RBOB futures rose 2.78cts to settle at $2.1237 gallon, a near
eight month spot high while the June contract settled 2.71cts higher at $2.1267
gallon. May ULSD futures rose 1.79cts to $2.1409 gallon settlement and the June
contract settled up 1.72cts at $2.1324 gallon.
NYMEX June West Texas Intermediate crude futures gained 24cts on the session
to settle at $68.64 bbl and June Brent on the Intercontinental Exchange rose
65cts to $74.71 bbl settlement.
In California trade markets, prompt month CARBOB discussion moved to May
pipeline scheduling business.
Trade sources pegged May CARBOB in the Los Angeles basin at a 15.5cts
futures premium, up over 2.0cts from the April value the prior day to $2.2817
In the San Francisco Bay, May CARBOB was indexed at a 2.0cts discount to the
basin, up over 4.0cts to $2.2617 gallon.
Pacific Northwest April suboctane remained at a 16.5cts by 17.5cts premium
to May RBOB futures, tracking the MERC 2.78cts higher to $2.2937 gallon.
In diesel trade, April ULSD in the region traded 20.5cts over the MERC, up
over 3.25cts to $2.3459 gallon.
May CARB ULSD in the L.A. basin was talked 7.0cts over the print, up near a
penny to $2.2074 gallon. Prompt ULSD for export out-of-state held at parity to
the CARB ULSD.
Dawn Gallagher, 1.732.531.4451, firstname.lastname@example.org, www.dtn.com. (c)
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