* Thin trade contributes to sharp Group Three gasoline swing
* Gulf Coast gasoline slides in thin trade
* Harbor distillates move lower
HOUSTON, Dec 27 Midwest Group Three gasoline differentials
plunged by 6.00 cents per gallon in a thinly traded market on Thursday on weak
demand, tracing declines in Gulf Coast gasoline, traders said.
Group Three gasoline fell to 36.00/34.00 cents under the January RBOB
gasoline futures contract on the New York Mercantile Exchange. Few trades were
executed, leading to the sharp price swing, traders said.
Chicago cycle 1 gasoline held steady at 27.00/25.00 cents under February
futures even after Exxon Mobil Corp reported the restart of an
unspecified unit at its 238,600-barrels-per-day Joliet, Illinois refinery.
On the Gulf Coast, gasoline differentials extended declines - also in thin
trade between the Christmas and New Year's Day holidays - as year-end demand
waned, traders said.
A4 CBOB slipped 2.25 cents per gallon to 22.00 cents under February RBOB
futures on the NYMEX, while conventional M4 gasoline fell by 2.00 cents per
gallon to 20.00 cents under, traders said.
Gulf jet fuel differentials were talked about 1.75 cents per gallon higher
on a new five-day lifting cycle, traders said.
But Gulf ultra-low-sulfur diesel differentials retreated by 2.25 cents per
gallon to 6.50 cents under January NYMEX RBOB futures as its last five-day
lifting cycle to trade against the January contract scheduled to move on the
In New York Harbor, distillates traded slightly lower with ULSD down about a
penny per gallon to 5.00/6.00 cents over January NYMEX heating oil futures. Jet
fuel fell by half a cent per gallon to 8.00 cents over, traders said.
For more refinery news, please go to
Timing NYMEX Bid Offer Change
U.S. GULF COAST * Scheduling
M4 conventional gasoline Cycle 1 RBOB -20.25 -19.75 -2.00
61-grade ULSD * Cycle 72 HO -6.75 -6.25 -2.25
54-grade jet fuel Cycle 1 HO -1.00 0.00 1.75
Heating oil Cycle 1 HO -6.50 -6.00 0.00
NEW YORK HARBOR
M4 conventional gasoline Prompt RBOB 4.00 5.00 0.00
Any-Month RBOB 2.50 3.00 0.00
F5 RBOB Prompt RBOB 2.00 3.00 0.00
Any-Month RBOB 1.50 1.75 0.00
ULSD Prompt HO 5.00 6.00 -1.00
Any-Month HO 5.00 6.00 -0.50
Heating oil Prompt HO -0.25 0.25 0.00
Any-Month HO -0.25 0.25 0.00
Jet fuel Prompt HO 7.50 8.50 -0.50
Any-Month HO 7.50 8.50 -0.50
Chicago CBOB gasoline Cycle 3 RBOB -27.00 -25.00 0.00
Chicago ULSD Cycle 3 HO -8.00 -6.00 -2.00
Group Three gasoline RBOB -36.00 -34.00 -6.00
Group Three ULSD HO -4.75 -4.25 -2.00