Midwest Spot Market Oil Products Posting Losses Midday

    

   BURLINGTON, Vt. (DTN) -- Open market gasoline and diesel fuel prices in 
Midwest trading zones are mired in the loss column ahead of the weekend trading 
break thanks to a selloff in New York Mercantile Exchange oil futures.

   Bulk trading has been light, with interest in offline gasoline supply 
generating deals in both heartland markets. 

   Further sluggishness in U.S. manufacturing and a deepening contraction in 
Eurozone manufacturing, especially in the German sector, regenerated widespread 
fears of an economic slowdown and growth concerns that had a negative impact on 
crude oil and oil product futures prices.  

   April RBOB futures on the NYMEX were down 1.35cts trading $1.9068 gallon at 
midday, and spot month ULSD futures have plunged 4.53cts to $1.9418 gallon, hit 
with a steady barrage of pre-weekend book squaring. 

   Crude oil futures for May NYMEX delivery were posting a $1.48 loss printing 
$58.50 bbl at press time.

   Chicago suboctane regular has tumbled 200pts in basis trading at a 3.0cts 
futures premium for third cycle March delivery into the Buckeye Complex that 
moves spot price 3.35cts below its Thursday DTN closing market range to $1.9368 
gallon. 

   Group 3 V-grade 8.5-lb. CBOB has traded for a second day 3.5cts below the 
April futures print that trims flat price by 1.38cts to $1.8715 gallon for 
offline Magellan Pipeline supply.

   X-grade ultra-low sulfur diesel fuel in Group 3 has tumbled 4.63cts to an 
implied $1.9568 gallon, priced at a 1.5cts futures premium for prompt MPL 
delivery. 

   Chicago ULSD has retreated 4.53cts to a notional $1.9568 gallon, assessed 
for third cycle March Wolverine Pipeline specific deliver 1.5cts over the April 
futures print. 

   G. Bud deGorgue, 1.802.524.1784, bud.degorgue@dtn.com, www.dtn.com. (c) 2019 
DTN. All rights reserved.