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Share Price Information for BP (BP.)

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Share Price: 510.40
Bid: 509.40
Ask: 509.50
Change: -5.40 (-1.05%)
Spread: 0.10 (0.02%)
Open: 516.30
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U.S. Cash Products-Midwest gasoline up on area refinery problems

Tue, 17th Mar 2015 19:25

* Gulf gasoline rises on pipeline scheduling * NY harbor ULSD, high sulfur heating oil strengthen * RIN credits mostly lower NEW YORK, March 17 (Reuters) - Midwest cash gasoline differentials tofutures benchmarks strengthened sharply on Tuesday because of refinery problemsin the region, brokers and traders said. Chicago gasoline for cycle-3 March barrels traded at 3.00 cents a gallonover April RBOB gasoline futures in the cash market on Tuesday and thenreached 4.50 cents over, up 13.50 cents from Monday. Group Three gasoline traded at 11.75 cents and then strengthened to 11 centsunder April RBOB, up 4.00 cents. Exxon Mobil Corp on Tuesday confirmed a flaring event related to acompressor shutdown on Monday at its 238,600-barrel-per-day refinery in Joliet,Illinois. Joliet's catalytic hydro-desulfurization unit was reported offline byindustry intelligence company Genscape. Genscape also reported units shut at the 306,000-bpd Phillips 66 refinery in Wood River, Illinois. The company on March 3 confirmed that planned maintenance was under way atthe Wood River refinery. BP Plc's Whiting, Indiana, refinery's small, 65,000-bpd fluidcatalytic cracking unit (FCUU) remains shut for repairs with no date for restartyet, according to a person familiar with the plant. With other units in the region shutting, the FCUU at the 160,000-bpd Toledo,Ohio refinery co-owned by BP and Husky Energy Inc restarted on Tuesday. Chicago cycle-3 ultra-low sulfur diesel (ULSD) gained 2.50 cents to 1.00cent under April ULSD futures, while Group Three ULSD eased half a pennyto 8.00 cents under that benchmark. U.S. Gulf Coast cash gasoline differentials rose on Tuesday as the latestfive-day lifting cycles for A- and M-grades were scheduled to move on theColonial pipeline, traders said. A2 CBOB, or conventional regular gasoline blendstock formulated for blendingwith 10 percent ethanol, traded early as strong as a 13.50-cent discount toApril RBOB futures, but later traded at a 14.25-cent discount, half a penny pergallon stronger than Monday's trades. Conventional M2 gasoline traded at a 12.00-cent discount to futures, up 0.75cent per gallon, and then bids slowed, traders said. ULSD in the New York harbor market strengthened 1.25 cents to 2.75 centsover April ULSD, and high sulfur heating oil was up half a cent at 17 centsunder the benchmark. Harbor M4 conventional gasoline fell a penny to 19.50 cents under, and F4RBOB was steady at 21.25 cents under April RBOB futures. Prices for Renewable Identification Number (RIN) credits were mostly lower,according to brokers and traders. Ethanol credits for 2015 traded at 65 cents, after being offered at 64.5cents and then 65.5 cents earlier. That was down from 66.5-67 cents on Monday.The bid/ask spread for 2014 credits was 66-68 cents, weakening from Monday'sspread of 67.5-68 cents. Biodiesel credits for 2015 were bid at 78 cents, after trading Monday at 79cents. Biodiesel RINs for 2014 compliance traded at 71 cents, up a penny fromMonday. 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 16 RBOB -14.50 -14.00 0.50 M2 conventional gasoline * Cycle 16 RBOB -12.25 -11.75 0.75 62-grade ULSD Cycle 16 HO -7.50 -7.00 -0.25 54-grade jet fuel Cycle 16 HO -16.50 -15.50 0.00 Heating oil * Cycle 15 HO -29.25 -28.75 0.00 NEW YORK HARBOR <0#P-NYH> M4 conventional gasoline Prompt RBOB -19.75 -19.25 -1.00 Any-Month RBOB -16.00 -15.50 -0.25 F4 RBOB Prompt RBOB -21.50 -21.00 0.00 Any-Month RBOB -21.50 -21.00 0.00 ULSD Prompt HO 2.50 3.00 1.25 Any-Month HO 2.50 3.00 1.00 Heating oil Prompt HO -17.25 -16.75 0.50 Any-Month HO -17.25 -16.75 0.25 Jet fuel Prompt HO -5.50 -5.00 0.00 Any-Month HO -5.50 -5.00 -0.25 MIDWEST <0#P-G3> <0#P-MC> Chicago CBOB gasoline Cycle 3 RBOB 4.25 4.75 13.50 Chicago ULSD Cycle 3 HO -1.25 -0.75 2.50 Group Three gasoline RBOB -11.25 -10.75 4.00 Group Three ULSD HO -8.25 -7.75 -0.50 (Reporting by Kristen Hays in Houston and Robert Gibbons and Christine Prenticein New York; Editing by Lisa Von Ahn)

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InterContinental Hotels Group PLCTrading Statement
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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