PNW Sub-Octane Regular Basis Surges 10cts on Tight Supply


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Basis for prompt Pacific Northwest sub-octane regular 
surged 10cts Monday (2/16) to a 30.5cts premium over April NYMEX RBOB futures, 
driven by limited supplies and firm demand. 

   A bid for PNW sub-octane regular was heard at a 30cts premium to the same 
benchmark. The basis was pegged at a 20.5cts premium to April NYMEX RBOB 
futures contract in the previous trading session.

   Motor gasoline inventories in the West Coast region fell by 400,000 bbl to 
28.3 million bbl in the week ending March 6, up by 300,000 bbl compared to the 
same week last year. Gasoline imports in the region climbed by 167,000 bpd to 
189,000 bpd week-over-week and were 102,000 bpd higher than the volume reported 
in the same period of the previous year.
Refinery utilization in PADD 5 rose to 83.8% last week compared to 79.6% the 
previous week, EIA data showed.




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