Chicago ULSD Basis Weakens as April Scheduling nears End


   
   CRANBURY, N.J. (DTN) -- After lackluster buying interest this week, basis 
for ultra-low sulfur diesel fuel in Chicago spot markets weakened a steep 500 
points for cycle three April pipeline timing, which completes scheduling on 
Wednesday (4/24).

   ULSD on the Wolverine, Badger, and West Shore pipelines were assessed at 
5cts discounts to May futures on the New York Mercantile Exchange Tuesday 
afternoon, and at a 4cts futures discount at the Buckeye Storage Complex in 
northern Indiana.

   Distillate fuel inventory in PADD 2 has held above 2023 throughout the year 
so far, with inventory on April 12 at 32.313 million bbl, 4.5 million bbl more 
than during the comparable week a year ago, according to data from the Energy 
Information Administration.

    

    

   Brian L. Milne, 1.732.768.0260, brian.milne@dtn.com, www.dtn.com.




(c) Copyright 2024 DTN, LLC. All rights reserved.