US WCoast Products - L.A. retreats, Portland up

HOUSTON Mon Feb 27, 2012 9:02pm EST

HOUSTON Feb 27 (Reuters) - Gasoline in the Los Angeles spot market retreated on Monday, but rose in Portland, due to problems affecting regional refineries and their resolutions, traders said.

In Los Angeles, two refineries, Valero Energy Corp's 78,000 barrel per day (bpd) plant in Wilmington, California, and BP Plc's 253,000 bpd plant in Carson, California, were seen returning from planned work, pushing prices down.

March unleaded, ethanol-blend CARBOB gasoline slid 4 cents to finish at a 34-cent-a-gallon premium on April NYMEX RBOB gasoline in L.A.

In Portland, the shut BP 225,000 bpd Cherry Point, Washington, refinery has already pushed up prices, and gasoline climbed 3 cents higher on Monday to reach a 25-cent premium on April RBOB, as Tesoro Corp's 120,000 bpd Anacortes, Washington, refinery was doing work on units involved in the crude distillation system.

San Francisco CARBOB ran between 5 cents and 6 cents behind L.A.'s price.

April-delivery L.A. CARBOB sold at 17 cents over May NYMEX RBOB.

EPA-grade ultra low sulfur diesel, which is used outside California's cities, was offered at 9 cents over April NYMEX heating oil.

March CARB diesel, which is designed for use in California's cities, finished down 1 cent at 12 cents over NYMEX heating oil.

Jet fuel in L.A. sold at 11.5 cents over NYMEX heating oil, up 0.5 cent.

Diesel in Portland retreated 3 cents on expectations of supply arriving there to replace lost BP production.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.