Gulf Coast gasoline falls as multiple refiners offer product
By Nicole Jao
NEW YORK, Oct 17 (Reuters) -Cash differentials for gasoline fell on Thursday in the U.S. Gulf Coast spot market after multiple refiners sold the product during the day's trading window, traders said.
U.S. Gulf Coast A3 CBOB gasoline CBOB-DIFF-USG fell 1.75 cents, trading 7.5 cents per gallon below the gasoline futures benchmark RBc1 on the New York Mercantile Exchange, traders said.
M3 conventional gasoline RU-DIFF-USG fell a cent, trading 0.5 cents higher than the gasoline futures benchmark, market participants said.
Gulf Coast 62-grade ULSD ULSD-DIFF-USG was little changed, trading 7.5 cents per gallon below the ultra-low sulfur diesel futures contract on the NYMEX HOc1.
Chicago CBOB gasoline CBOB-DIFF-MC was little changed, trading 18 cents per gallon below futures, traders said.
Chicago ULSD ULSD-DIFF-MC was little changed.
Elsewhere in the Midwest, Group 3 V-grade gasoline RUV-DIFF-G3 was little changed, trading 0.5 cents higher than the benchmark.
Group 3 diesel ULSD-DIFF-G3 was little changed, trading 1.25 cents lower than the benchmark.
In New York Harbor, M3 conventional gasoline RU-DIFF-NYH was little changed, trading 10.5 cents per gallon above futures, traders said.
Diesel for delivery in New York Harbor ULSD-DIFF-NYH gained three quarters of a cent, trading 1.5 cents per gallon below futures, traders said.
The RBOB futures contract on NYMEX RBc1 rose 0.65 cents to settle at $2.0468 a gallon on Thursday.
NYMEX ultra-low sulfur diesel futures HOc1 rose 1.98 cents to settle at $2.1945 a gallon on Thursday.
Renewable fuel (D6) credits RIN-D6-US for 2024 were unchanged at 71 cents each on Thursday, traders said.
Biomass-based (D4) credits RIN-D4-US were also unchanged at 71 cents each, traders said.
Latest day | |||||
Timing | NYMEX Contract | Bid | Offer | Change | |
U.S. GULF COAST <0#P-USG, PPIM> * Scheduling | |||||
A3 CBOB gasoline CBOB-DIFF-USG | Cycle 60 | November RBOB | -7.75 | -7.25 | -1.75 |
M3 conventional gasoline RU-DIFF-USG | Cycle 60 | November RBOB | 0.25 | 0.75 | -1.00 |
62-grade ULSD ULSD-DIFF-USG | Cycle 60 | November HO | -7.75 | -7.25 | 0.00 |
54-grade jet fuel JET-DIFF-USG | Cycle 60 | November HO | -17.00 | -16.50 | 1.00 |
Heating oil HO-DIFF-USG | Cycle 60 | November HO | -22.00 | -20.00 | -0.25 |
NEW YORK HARBOR <0#P-NYH, PPIL> | Bid | Offer | Change | ||
M3 conventional gasoline RU-DIFF-NYH | Prompt | October RBOB | 10.00 | 11.00 | 0.00 |
F4 RBOB RBOB-DIFF-NYH | Prompt | October RBOB | 2.00 | 2.25 | 0.25 |
ULSD ULSD-DIFF-NYH | Prompt | October HO | -2.00 | -1.00 | 0.75 |
Heating oil HO-DIFF-NYH | Prompt | October HO | -52.50 | -52.00 | 0.00 |
Jet fuel JET-DIFF-NYH | Prompt | October HO | -7.50 | -6.50 | 0.5 |
MIDWEST 0#P-G3, 0#P-MC, IHPROD/MIDCO | Bid | Offer | Change | ||
Chicago CBOB gasoline CBOB-DIFF-MC | Cycle 3 | November RBOB | -18.25 | -17.75 | 0.00 |
Chicago ULSD ULSD-DIFF-MC | Cycle 3 | November HO | 0.75 | 1.25 | 0.00 |
Group Three gasoline RUV-DIFF-G3 | November RBOB | 0.25 | 0.75 | 0.00 | |
Group Three ULSD ULSD-DIFF-G3 | November HO | -1.50 | -1.00 | 0.00 | |
Reporting by Nicole Jao; Editing by Sonali Paul
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