U.S. WCoast Products-Prices Fall on Restarts

  on November 09 2011 6:44 PM

Gasoline and diesel prices fell in the Portland, Oregon, market as two refineries finished seasonal overhauls, traders said.

Unleaded gasoline in Portland finished down 5 cents in a bid-offer spread at 14 cents/16 cents a gallon over NYMEX December RBOB gasoline.

BP Plc's 225,000 barrel per day (bpd) Ferndale, Washington, refinery restarted units, according to a notice filed with Washington state pollution regulators.

Also Shell Oil Co's 145,000 bpd Anacortes, Washington, refinery finished restarting units, according to a notice filed with state pollution regulators.

The BP refinery had undergone a month-long overhaul and the Shell plant underwent seven weeks of work. 

Diesel in Portland fell 4 cents to a bid of 19 cents over NYMEX December heating oil also due to the restarts.

In the Los Angeles market, unleaded ethanol-blend CARBOB gasoline gained 1.5 cents after a pipeline bringing crude oil to ConocoPhillips 120,200 bpd Rodeo, California, refinery was shut due to a leak.

Traders said it was unlikely the pipeline closure would affect production at the refinery because there was an alternative way of delivering crude to refinery.

Unleaded ethanol-blend CARBOB gasoline for November delivery in the Los Angeles market finished at 26.5 cents a gallon over NYMEX December RBOB gasoline.

CARBOB is down 6 cents from where it was on Friday because of expectations Chevron Corp's 273,000 bpd El Segundo, California, refinery will restart this week a gasoline-producing fluidic catalytic cracking unit, which has been shut since late October.

A Chevron representative did not reply to a message requesting comment on El Segundo refinery operations. 

CARBOB in the San Francisco Bay market sold at 5 cents under under L.A.

December L.A. CARBOB was a penny stronger at 15 cents a gallon over NYMEX RBOB for January.

CARB diesel, which draws its name from the California Air Resources Board, for November delivery in the Los Angeles market fell 3 cents to 20 cents a gallon over NYMEX heating oil, down also due to the rumored restart of the Chevron FCC. 

November jet fuel fell a penny to 2.5 cents over December NYMEX heating oil.

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