Midwest Gasoline Basis Weakens on October RBOB Roll


   
Maria Eugenia Garcia
DTN Energy Reporter

   HOUSTON, TX (DTN) -- Midwest gasoline basis weakened Friday (8/21) as the 
market rolled to the October NYMEX RBOB futures contract.

   Chicago regular gasoline traded at a 23cts discount to October RBOB futures, 
10cts weaker than the previous trading session. 

   Wolverine prompt gasoline was talked at a 19cts discount to the same 
benchmark, down 9cts from Thursday, while Buckeye pipeline prompt regular 
gasoline was indexed at a 14cts discount, 4ct weaker on the session.

   Meanwhile, Group 3 sub-octane gasoline was talked at 5.5cts discount to the 
October futures contract, 8cts weaker than Thursday's assessment.

   Market sources attributed the Midwest gasoline basis weakness to this week's 
rally in the futures market and the transition to the October contract, which 
is trading at a steep backwardation. On Friday, September NYMEX RBOB futures 
contract settled at $3.3479 gallon, while October was at $3.0468 gallon, 
according to DTN data. 




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