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HOUSTON, March 4 (Reuters) - Gasoline reacted acrossCalifornia spot markets to the beginning of a restart of thegasoline-producing unit at BP Plc's Los Angeles-arearefinery, one of the largest in the region, traders said. In the Los Angeles market, March-delivery CARBOB rose 2cents a gallon to trade at a 2-cent discount under April NYMEXRBOB gasoline, as traders expressed frustration that the 102,500barrel per day (bpd) fluidic catalytic cracking unit was justbeginning its return to production at the 240,000 bpd Carson,California, refinery. The FCC has been shut for an eight-week planned overhaul. Itwas originally scheduled to be shut for six weeks, returningFeb. 22. In the San Francisco Bay market, March CARBOB retreated 3.5cents to 16.5 cents a gallon under April NYMEX RBOB onexpectations demand for the fuel to be shipped to southernCalifornia was coming to an end. Gasoline in the Portland, Oregon, market rose 2 cents to 2cents a gallon under April NYMEX heating oil as Tesoro Corp's 120,000 bpd Anacortes, Washington, was performing workon its FCC. March CARB diesel retreated 5 cents a gallon to 11.5 cents agallon over April NYMEX heating oil as refiners were notexpected to emphasize gasoline production over diesel to benefitfrom higher prices due to the BP shutdown. Bay market CARB diesel was discounted by 1.5 cents a gallonunder L.A. Portland diesel fell 2.5 cents to a 10-cent-a-gallon premiumon April NYMEX heating oil. L.A. March jet fuel fell 3.5 cents to 12.5 cents a gallonover April NYMEX heating oil. (Reporting by Erwin Seba, desking by G Crosse)
12 Apr 2024 11:37
TOP NEWS: BP shares rise after reports Adnoc had pondered takeover
(Alliance News) - Shares in BP jumped on Friday after reports that the state-owned, United Arab Emirates oil company was considering, but had ruled out, a bid for the London-based oil major.
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