US Cash Products- Gulf Coast mogas up on refinery outage

NEW YORK, July 15 (Reuters) - Gasoline differentials in the U.S. Gulf Coast rose on Wednesday after news of gasoline unit outage at ConocoPhillips' (COP.N) Alliance refinery in Belle Chasse, Louisiana, traders said.

Differentials for conventional M2 gasoline rose more than a penny, pegged at about 7.50 cents under the August RBOB futures, up from 9 under on Tuesday.

Group Three gasoline differentials moved up also, pegged about half a penny higher.

ConocoPhillips will undertake two weeks of unplanned work on a gasoline-making fluid catalytic cracker at its 247,000-barrel-per-day Alliance refinery. [ID:nN15349870]

"They (Conoco) were buying yesterday," said one Gulf Coast cash oil trader.

"I am told it (FCC) is down ... I'm hearing maybe 2 weeks," he added.

The gains in gasoline differentials came despite news of data showing U.S. product builds last week.

Gasoline stocks increased to 214.6 million barrels, up 1.5 million, against expectations of a 1-million-barrel rise despite the Fourth of July holiday, according to the Energy Information Administration (EIA).

Distillates stockpiles edged up to a new 25-year high.

However, U.S. crude oil stocks fell 2.8 million barrels to 344.5 million barrels, prompting oil and product futures on the NYMEX to climb on Wednesday.

Crude oil futures rose over 3 percent, while RBOB and heating oil futures were both up 4 percent.[O/N]

For a complete list of refinery outages, click [REF/US]

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Conventional regular M2 gasoline rose about a penny and half, amid reports of buying since Tuesday by ConocoPhillips. The grade was pegged at 7.75 to 7.25 cents under the August RBOB futures, up from about 9.00 cents under the print a day earlier, trader said.

Prompt 61-grade ultra low sulfur diesel was a little lower. It was said done at 4.75, 4.85 and 5.00 cents over the benchmark August heatoil futures, and was later set at 4.4.50 cents over, down from offers at 5.25 cents over the print on Tuesday.

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