PNW Sub-Octane Premium Basis Drops 10cts on Weak Demand


   
   MIAMI, FL (DTN) -- December Pacific Northwest sub-octane premium basis 
dipped by 10cts on Wednesday (11/26) amid lower offers and weak demand.

   Offers for December PNW sub-octane were reported at plus 35cts, moving the 
basis to a 34.5cts premium over January NYMEX RBOB futures.  However, 
confirmation of trades done at those levels was not available at the time of 
publication. 

   Despite declining inventories and last week's shutdown of BP's Olympic 
Pipeline,  PNW spot prices were under downward pressure, according to market 
sources. 

   The Olympic Pipeline is currently back online, but its shutdown halted 
portions of the system on November 11 when a sheen was discovered near a right 
of way east of Everett, Washington. The pipeline carries more than 90% of 
refined products to be delivered to the Portland area. 




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