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George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’
George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’View Video
Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America
Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin AmericaView Video

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Share Price Information for BP (BP.)

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Share Price: 524.80
Bid: 525.20
Ask: 525.30
Change: -1.50 (-0.29%)
Spread: 0.10 (0.019%)
Open: 529.30
High: 530.70
Low: 522.30
Prev. Close: 526.30
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U.S. Cash Products-Midwest gasoline surges on BP Indiana refinery outage

Tue, 11th Aug 2015 17:52

* Gulf gasoline rises on expected Midwest demand * NY Harbor gasoline grades steady, supported by Bayway refinery problem HOUSTON, Aug 11 (Reuters) - Midwest gasoline jumped sharply on Tuesday, withChicago's differential surging 45 cents to 60 cents a gallon above benchmarkfutures, and with Group Three also posting a second day of sharp gains on theshut crude unit at BP's refinery in Whiting, Indiana, brokers said. Chicago cash CBOB gasoline for cycle-2 August barrels traded at 35, 40 andthen as strong as 60 cents a gallon above the September RBOB futures benchmark,after gaining 17 cents on Monday to trade as strong as 15 cents above futures. Group Three gasoline traded at 17.50 cents above September futures, up 14cents from Monday. Ultra-low sulfur diesel (ULSD) posted more modest gains, up eight cents inChicago at 9.00 cents a gallon above September ULSD futures. Group ThreeULSD was pegged only a penny stronger around 2.00 cents above the benchmark. BP Plc expects to restart the largest crude distillation unit at its413,500-barrel-per-day (bpd) Indiana refinery between Aug. 19 and Aug. 22,according to sources familiar with the refinery's plans. The unit shut onSaturday. Adding to the region's tight supply picture, Marathon Petroleum hasshut a catalytic reformer at its 210,000 barrel-per-day refinery in Robinson,Illinois, as part of planned maintenance that could last up to 10 weeks. The sharp spike in Midwest differentials helped boost U.S. Gulf Coastwholesale gasoline on anticipated stronger demand in its neighboring markets tothe north, traders said. A2 CBOB, or conventional regular gasoline blendstock formulated for blendingwith 10 percent ethanol, traded at 9.00-cent, 8.50-cent, 8.00-cent and 7.50-centdiscounts to September RBOB futures, 1.75 cents per gallon higher. Conventional M2 gasoline swung to a half-cent premium to futures, up 2.50cents per gallon, traders said. Gulf heating oil climbed 2.50 cents per gallon to a 21.00-cent discount toSeptember ULSD futures as its latest five-day lifting cycle was scheduled tomove on the Colonial Pipeline, traders said. New York Harbor gasoline was steady, but supported by its own region'srefinery issues. F2 RBOB had sellers asking 6.00 cents above September RBOB forprompt supply and M2 gasoline was pegged at 1.00 cent or 1.25 cents above fornearby cycles on Colonial's pipeline, brokers said. Phillips 66 will keep a powerformer unit, which produces productsused in blending gasoline, shut for "weeks" at its 238,000-bpd Bayway refineryin Linden, New Jersey, according to a person who is familiar with the plant'soperations. Distillates were mixed in the Harbor. Ethanol Renewable Identification Number (RIN) credits for 2015 traded at 39and 40 cents each, weakening during the day, brokers said. Credits for 2014 hadsellers asking 41 cents and buyers bidding 39.5 cents each. Biodiesel credits for 2015 traded at 67.5 cents each, the lower end ofMonday's trading range. No trades or quotes were heard for 2014 credits. For more refinery news, please go to Latest day Timing NYMEX Bid Offer Change Contract U.S. GULF COAST <0#P-USG> * Scheduling A2 CBOB gasoline Cycle 46 RBOB -7.75 -7.25 1.75 M2 conventional gasoline Cycle 46 RBOB 0.25 0.75 2.50 62-grade ULSD Cycle 45 HO -6.75 -6.25 0.00 54-grade jet fuel Cycle 45 HO -13.25 -12.25 0.75 Heating oil * Cycle 44 HO -21/25 -20.75 2.50 NEW YORK HARBOR <0#P-NYH> M4 conventional gasoline Prompt RBOB 1.00 1.50 0.00 F4 RBOB Prompt RBOB 5.50 6.00 0.00 ULSD Prompt HO -0.50 0.00 0.75 Heating oil Prompt HO -14.75 -14.25 0.50 Jet fuel Prompt HO -7.50 -7.00 -0.25 MIDWEST <0#P-G3> <0#P-MC> Chicago CBOB gasoline Cycle 2 RBOB 59.25 60.25 45.00 Chicago ULSD Cycle 2 HO 8.75 9.25 8.00 Group Three gasoline RBOB 17.25 17.75 14.00 Group Three ULSD HO 1.50 2.50 1.00 (Reporting by Kristen Hays in Houston and Robert Gibbons and Chris Prentice inNew York; Editing by James Dalgleish)

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LONDON MARKET MIDDAY: Oil falls despite rising Iran-Israel tensions

(Alliance News) - London's FTSE 100 was down at midday on Monday, as oil majors BP and Shell were hurt by falling prices, with investors showing caution following Iran's strikes on Israel over the weekend.

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15 Apr 2024 08:59

LONDON MARKET OPEN: FTSE 100 falls as oil lower despite Iran strikes

(Alliance News) - Stock prices in London opened lower on Monday, with a decline in oil prices sending Shell and BP lower, in a cautious start to the week following Iran's strikes on Israel over the weekend.

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Sector movers: Investors seek out safe havens across all asset classes

(Sharecast News) - Commodity plays were again sought out at the end of the week after The Wall Street Journal said that an Iranian attack against Israel was thought to be imminent.

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FTSE 100 sets near record close as commodity stocks shine

FTSE 100 up 0.9%, FTSE 250 off 0.3%

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LONDON MARKET CLOSE: Miners lift FTSE 100 but sea of red elsewhere

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Europe's main energy stocks index hits highest since 2008

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12 Apr 2024 11:51

LONDON MARKET MIDDAY: February data spurs end of UK recession hopes

(Alliance News) - Stocks in London got a boost on Monday at midday, as investors were optimistic that the UK is heading out of its short lived recession.

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12 Apr 2024 11:47

Europe's main energy stocks index hits highest since 2008

April 12 (Reuters) - The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday.

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TOP NEWS: BP shares rise after reports Adnoc had pondered takeover

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LONDON MARKET OPEN: Stocks get boost thanks to growth in UK economy

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UAE's ADNOC said to have recently considered BP takeover

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Senegal says oil, gas and mine contracts will be reworked if needed

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LONDON BRIEFING: Stocks called up ahead of US inflation data

(Alliance News) - Stocks in London are called to open higher, as investors shake off nerves ahead of a key US inflation reading.

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