Los Angeles, San Francisco Cash Gasoline Basis Strengthen
OAKHURST, N.J. (DTN) --- Cash gasoline basis in Los Angeles and San
Francsico continued to strengthen in active trade Tuesday while basis in the
Pacific Northwest were talked weaker after firming early in the session.
Sources said April CARBOB in the basin traded at 35cts and 40cts premiums to
May New York Mercantile Exchange RBOB futures, a hike of more than 10cts.
Premium CARBOB traded at a 30cts regrade to the regular CARBOB, up from a
23cts regrade the day prior.
In the Bay, sources reported deals for April CARBOB at 34cts, 35cts, 36cts
and 45cts premiums to May RBOB futures, a better than 15cts jump on the session.
State data detailed a nearly 300,000 bbl drop in production of the state
mandated reformulated gasoline in the Bay area in the third week of March.
After trading at a 40cts premium to the print, prompt suboctane in the
Pacific Northwest was reported on offer at that level. Bids were talked at a
24cts futures premium.
Dawn Gallagher, 1.732.531.4451, dawn.gallagher@dtn.com,
http://www.dtn.com.
(c) Copyright 2024 DTN, LLC. All rights reserved.