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West Coast Spot Gasoline Prices Mixed in Dull Early Trade
7/24 12:58 PM
West Coast Spot Gasoline Prices Mixed in Dull Early Trade OAKHURST, N.J. (DTN) --- Spot gasoline prices along the West Coast moved mixed early Monday as benchmark New York Mercantile Exchange RBOB futures continued lower. In paper trade, oil futures were mostly higher as the Organization of the Petroleum Exporting Countries' compliance committee meets in Russia and talk on the sidelines is positive. Saudi Arabia plans to cap August crude oil exports at 6.6 million bpd, while Nigeria will join forces with pledged output cuts once its production reaches and stabilizes at 1.8 million bpd. At 1:45 PM ET, August RBOB futures fell 1.02cts to $1.5531 gallon while the September RBOB contract decreased 0.35cts to $1.5307 gallon. August ULSD futures added 0.51cts to $1.5203 gallon and the September contract rose 0.46cts to $1.5246 gallon. NYMEX September West Texas Intermediate crude increased 59cts to $46.36 bbl and September IntercontinentalExchange Brent crude rose 55cts to $48.61 bbl August CARBOB in the Los Angeles basin, which moved to the prompt month, was bid 12.0cts over the MERC after trading down to 13.75cts premiums Friday afternoon. Versus July CARBOB the prior session, spot price added 0.3cts to $1.6613 gallon. In San Francisco, August CARBOB maintained a 15.0cts premium to September RBOB futures, tracking the print down 0.35cts to $1.6807 gallon. Pacific Northwest July suboctane dropped over a penny to $1.6406 gallon, pegged 8.75cts over August RBOB futures. Dawn Gallagher, 1.732.531.4451, dawn.gallagher@dtn.com, www.dtn.com. (c) 2017 DTN. All rights reserved.