Wolverine ULSD Jumps 25cts Amid Mixed Midwest Distillates


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) - Ultra-low sulfur diesel (ULSD) on the Wolverine 
pipeline witnessed the largest move up in Midwest fuels Friday (10/30), surging 
25cts to settle at an 85cts gallon premium over the December NYMEX ULSD 
contract, amid divergence in distillates pricing across the region.

   Buckeye Complex ULSD basis dropped 30cts to a 30cts gallon premium over 
December futures, while Chicago ULSD basis slipped 10cts to settle at a 50cts 
gallon premium.

   Group 3 ULSD (X grade) basis gained 17cts on the session to trade at a 26cts 
gallon premium over December futures

   Traders pointed to an absence of market alignment across regional pipeline 
systems as localized supply dynamics dictated physical differentials.

   "Everything is fundamentally disconnected right now, with no sync at all 
between the lines," a Midwest fuels trader told DTN.

   Individual pipeline deals within Chicago illustrated the wide internal 
spread, with West Shore ULSD trading up to 60cts over December futures while 
Badger ULSD traded at a 20cts premium.

   In jet fuel, Chicago flat on the day at a 10cts gallon discount to December 
futures. Group 3 jet fuel advanced 13cts to settle at a 35cts gallon premium.




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