ULSD Basis in Houston Strengthens after Recent Weakness
11/27 2:36 PM
ULSD Basis in Houston Strengthens after Recent Weakness CRANBURY, N.J. (DTN) -- Basis for ultra-low sulfur diesel fuel at the Houston origin of the Colonial Pipeline in the Gulf Coast spot market strengthened 300 points to a 23.75cts discount to January futures on the New York Mercantile Exchange Monday afternoon. The post-holiday gain in basis, which remains weak historically, is realized as distillate fuel inventory in PADD 3 was last measured 755,000 bbl less than year ago at 41.445 million bbl as of Nov. 17, according to Energy Information Administration data. For PADD 1C Lower Atlantic states, a region dependent on PADD 3 refinery production, distillate inventory totaled 9.229 million bbl as of Nov. 17, an 18-month low, and 2.307 million bbl below year ago. Brian L. Milne, 1.732.768.0260, brian.milne@dtn.com, www.dtn.com. (c) Copyright 2023 DTN, LLC. All rights reserved.
 
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