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U.S. Cash Products-Gulf gasoline mixed, ULSD up on pipeline scheduling

Thu, 16th Apr 2015 20:15

* Chicago gasoline gains despite refinery unit restart * NY harbor gasoline mixed, ULSD slightly stronger NEW YORK, April 16 (Reuters) - U.S. Gulf Coast cash gasoline differentialswere mixed on Thursday, traders said. A2 CBOB, or conventional regular gasoline blendstock formulated for blendingwith 10 percent ethanol, traded at an 18.75-cent discount to May RBOB futures, down 0.75 cent per gallon, while conventional M2 gasoline was seen in awide bid-offer spread of 18.50/15.50 cents under, largely flat to Wednesday'slevels. Gulf ultra-low sulfur diesel's (ULSD) differential climbed half a cent pergallon to a 5.75-cent discount to May ULSD futures as the fuel's latestfive-day lifting cycle was scheduled to move on the Colonial pipeline, traderssaid. In the Midwest, Chicago CBOB gasoline traded at a 14.00-cent discount to MayRBOB futures, up a penny per gallon, on higher demand even though the smaller oftwo gasoline-making fluid catalytic cracking units at BP Plc's 413,500barrels per day refinery in Whiting, Indiana, finished restarting. The unit was shut last week for repairs. Chicago ULSD, however, slid 2.00 cents per gallon to a 10.00-cent discountto May ULSD futures, traders said. Group Three gasoline also fell a penny per gallon to an 18.00-cent discountto May RBOB. New York harbor products were mixed. F2 RBOB was steady around 1.25 centsunder May RBOB, while M2 conventional gasoline was up 0.50 cent at 11.25 centsbelow the benchmark. ULSD was up 0.25 cent pegged near 0.50 cent above May ULSD, while highsulfur heating oil steadied at 11 cents below and jet fuel was unchanged at 5.00cents below May futures. Prices of Renewable Identification Number (RIN) credits were little-changed,traders said. Ethanol credits for 2015 compliance traded at 71.5 and 71.75 cents each, atthe weaker end of Wednesday's trades from 71 to 73 cents. Credits for 2014traded at a premium of 1.5-2 cents above the current year's credits, brokerssaid. Biodiesel credits for 2015 traded at 85.25 cents, within Wednesday's 84 to86-cent range. Biodiesel credits for 2014 were reported offered by sellers at 78cents, with no transactions sighted. 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 23 RBOB -19.00 -18.50 -0.75 M2 conventional gasoline Cycle 23 RBOB -18.50 -15.50 0.00 62-grade ULSD * Cycle 21 HO -6.00 -5.50 0.50 54-grade jet fuel Cycle 22 HO -13.50 -12.50 0.00 Heating oil Cycle 21 HO -20.25 -19.75 -0.50 NEW YORK HARBOR <0#P-NYH> M4 conventional gasoline Prompt RBOB -11.50 -11.00 0.50 Any-Month RBOB -11.00 -10.75 1.00 F4 RBOB Prompt RBOB -1.50 -1.00 0.00 Any-Month RBOB -1.50 -1.00 0.00 ULSD Prompt HO 0.25 0.75 0.50 Any-Month HO 0.00 0.25 0.00 Heating oil Prompt HO -11.25 -10.75 0.00 Any-Month HO -11.25 -10.75 0.00 Jet fuel Prompt HO -5.25 -4.75 0.00 Any-Month HO -5.25 -4.75 0.00 MIDWEST <0#P-G3> <0#P-MC> Chicago CBOB gasoline Cycle 3 RBOB -14.50 -13.50 1.00 Chicago ULSD Cycle 3 HO -10.25 -9.75 -2.00 Group Three gasoline RBOB -18.25 -17.75 -1.00 Group Three ULSD HO -7.50 -7.00 -0.25 (Reporting by Kristen Hays in Houston and Robert Gibbons and Chris Prentice inNew York; Editing by Grant McCool)

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