West Coast Spot Products Mixed ahead of Holiday Weekend
5/24 4:50 PM
West Coast Spot Products Mixed ahead of Holiday Weekend OAKHURST, N.J. (DTN) --- Spot refined product prices along the West Coast ended mixed Friday following a dull trade session ahead of the Memorial Day holiday weekend. In paper trade, New York Mercantile Exchange oil futures settled higher after recent weakness, including Thursday's plunge that saw West Texas Intermediate suffer its worst one day drop thus far this year. July NYMEX WTI settled up 72cts at $58.63 bbl and July Intercontinental Exchange Brent crude settled 93cts higher at $68.69 bbl. NYMEX June RBOB futures rallied 2.12cts to $1.9345 gallon settlement and July futures jumped 2.22cts to $1.9132 gallon settlement. June and July ULSD futures settled up 0.89cts at $1.9713 gallon and $1.9720 gallon, respectively. In physical trade, prompt discussion in the Los Angeles basin transitioned to June pipeline business. Sources pegged June CARBOB at a 16.5cts premium to July RBOB futures. Spot price gained about a penny from May's value to $2.0782 gallon. July CARBOB was indexed early at a 14.25cts premium to August RBOB futures, sources said. San Francisco Bay area June CARBOB maintained a 1.5cts premium to the basin, up 1.72cts to $2.0932 gallon. Pacific Northwest prompt suboctane was offered 35cts over the MERC with bids steady at 28cts premiums. Spot price gained more than 3.5cts to $2.2495 gallon. On the diesel side, May ULSD in the Pacific Northwest maintained a 7.5cts premium to June ULSD futures, tracking the print up 0.89cts to $2.0463 gallon. Bay area CARB ULSD discussion moved to June pipeline business with the fuel indexed 11cts over July ULSD futures. At $2.0820 gallon, spot price dropped over 3cts from the May value the prior session. June CARBOB in the L.A. basin bid 15cts over July ULSD futures with offers at 21cts premiums. Spot price edged slightly lower to $2.1520 gallon. June ULSD for export out-of-state maintained price parity with the CARB ULSD. Dawn Gallagher, 1.732.531.4451, dawn.gallagher@dtn.com, www.dtn.com. (c) 2019 DTN. All rights reserved.
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