PNW ULSD Basis Spikes by 9.5cts on Demand


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Pacific Northwest ultra-low sulfur (ULSD) basis surged by 
9.5cts on Tuesday (4/7) to a 58cts premium over May NYMEX ULSD futures 
contract, on firm buying interest amid supply tightness.

   Bids for PNW ULSD basis were heard in the market at a 57.5ct premium, with 
no trades confirmed at that level. 

   The move, driven by firm demand, had its basis pegged at a 48.5cts premium 
to May futures contract in the previous trading session on Monday (4/6).

   Refinery closures are contributing to tightness, including the planned 
fourth-quarter 2025 shutdown of Phillips 66's 139,000-bpd Wilmington, 
California, refinery and Valero's pending closure of its 145,000-bpd Benicia, 
California, refinery by end of April 2026.




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