RBOB Basis in NYH Strengthens as Stocks Slip below Yr Ago


   
   CRANBURY, N.J. (DTN) -- Basis for RBOB in the New York Harbor spot market 
strengthened 50 points to a 1.5cts premium to May futures on the New York 
Mercantile Exchange for injection into the Buckeye Pipeline.

   RBOB April anys for movement on the Buckeye Pipeline are assessed at a 
125-point premium to May futures, strengthening 25 points. April anys on the 
Buckeye Pipeline hold a 50-point premium to non-Buckeye Pipeline RBOB anys, 
which traded at a 75-point futures premium.

   Gasoline inventory in PADD 1B central Atlantic states, which include the New 
York Harbor, were drawn down 1.65 million bbl to a 26.463 million bbl 19-week 
low during the week ended April 12, according to data from the Energy 
Information Administration. It was the fourth consecutive weekly draw down PADD 
1B gasoline inventory, with stock levels down 6.632 million bbl or 20% since 
March 15. Gasoline stocks in the region moved below a year ago for the first 
time since late February, down 500,000 bbl year-on-year, while 3.841 million 
bbl less than the three-year average.

    

    

   Brian L. Milne, 1.732.768.0260, brian.milne@dtn.com, www.dtn.com.




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