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Roundtable Discussion; The Future of Mineral Sands
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U.S. Cash Products-Gulf gasoline up on refinery outages, scheduling

Mon, 06th Apr 2015 18:46

* Gulf gasoline up on refinery unit outages, pipeline scheduling * Chicago gasoline higher on cycle change * NY harbor gasoline grades weaken, high sulfur heating oil stronger HOUSTON, April 6 (Reuters) - U.S. Gulf Coast cash gasoline differentials tobenchmark futures rose on Monday on a combination of refinery unit outages andscheduling of the latest five-day lifting cycles for A- and M-grades to move onthe Colonial pipeline, traders said. A gasoline-producing fluid catalytic cracking unit (FCCU) at MarathonPetroleum Corp's 451,000 barrels-per-day (bpd) Galveston Bay refinery inTexas City, Texas, shut down on Saturday night because of a power outage. Asecond FCCU also has been shut since mid-January because of a malfunction. Phillips 66 on Monday was restarting its 247,000-bpd Alliancerefinery in Belle Chasse, Louisiana, after a power outage caused a shutdown onSaturday. A2 CBOB, or conventional regular gasoline blendstock formulated for blendingwith 10 percent ethanol, traded at a 19.25-cent discount to May RBOB futures, up 1.75 cents per gallon, while conventional M2 gasoline traded at a15.50-cent discount to futures, up 2.00 cents per gallon, traders said. The Gulf ultra-low sulfur diesel (ULSD) differential slipped 1.25 cents pergallon to an 8.00-cent discount to May ULSD futures on weaker demand,traders said. In the Midwest, Chicago gasoline and ULSD differentials were higher asprompt trade began on a new cycle on Monday, traders said. An FCCU at BP Plc's 413,500 bpd refinery in Whiting, Indiana, alsoremained shut for repairs on Monday, while a crude distillation unit that shuton Friday had resumed normal operations. Chicago gasoline was seen in a bid-offer spread of 17.00-15.00 cents underMay RBOB futures, up about 2.50 cents per gallon from the previous cycle'sfinish last week. Chicago ULSD was 4.50 cents per gallon higher at a 7.50-centdiscount to May ULSD futures, traders said. New York Harbor gasoline grades were pegged weaker as the benchmark futuresrallied with crude futures. M2 for cycle 16 on the Colonial pipeline was pegged0.50 cent weaker at 8.25 cents under May RBOB. Prompt F4 RBOB weakened 1.50 cents to 18.50 cents under May RBOB, while F2grade offers were about 0.25 cent weaker at 0.50 cent over benchmark futures. High sulfur heating oil was pegged 1.50 cents stronger at 13 cents under MayULSD, while ULSD was up 0.25 cent at 0.75 cent over the benchmark for cycle-16barrels off the Colonial pipeline. Barge ULSD barrels had buyers bidding even tothe benchmark futures. Prices for Renewable Identification Number (RIN) credits were littlechanged, traders and brokers said. Ethanol credits for 2015 compliance traded at 68 and 68.25 cents each.Buyers' bids were at 68 cents on Thursday. Credits for 2014 were at a bid-offerspread of 70/71.50 cents. Biodiesel 2015 credits had bids at 80 cents, while sellers asked 83 cents.They traded on Thursday at 81 cents. Credits for 2014 had bids from buyers at 77cents, after they traded on Thursday at 76.5 cents. 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 20 RBOB -19.75 -19.25 1.75 M2 conventional gasoline * Cycle 20 RBOB -15.75 -15.25 2.00 62-grade ULSD Cycle 19 HO -8.25 -7.75 -1.25 54-grade jet fuel * Cycle 19 HO -15.00 -14.00 0.00 Heating oil Cycle 19 HO -22.25 -21.75 -1.00 NEW YORK HARBOR <0#P-NYH> M2 conventional gasoline Prompt RBOB -8.50 -8.25 -0.50 Any-Month RBOB -8.50 -8.25 -0.50 F4 RBOB Prompt RBOB -18.75 -18.25 -1.50 Any-Month RBOB -19.00 -18.50 -1.50 ULSD Prompt HO 0.50 1.00 0.25 Any-Month HO 0.00 0.50 0.00 Heating oil Prompt HO -13.25 -12.75 1.50 Any-Month HO -13.25 -12.75 1.50 Jet fuel Prompt HO -6.25 -5.75 0.00 Any-Month HO -6.25 -5.75 0.00 MIDWEST <0#P-G3> <0#P-MC> Chicago CBOB gasoline Cycle 2 RBOB -17.00 -15.00 2.50 Chicago ULSD Cycle 2 HO -8.00 -7.00 4.50 Group Three gasoline RBOB -17.50 -17.00 0.25 Group Three ULSD HO -9.50 -9.00 -0.50 (Reporting by Kristen Hays in Houston and Robert Gibbons in New York; Editingby)

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