Gulf, NYH Oil Products taking Fresh Hit as Futures Stumble
BURLINGTON, Vt. (DTN) --- Spot market oil product prices are down sharply
Thursday pressured by a fresh pullback in benchmark New York Mercantile
Exchange oil futures.
The latest wall of worry troubling market speculators is the lack of
progress in trade talks between the United States and China, as a positive
solution eludes negotiators from both sides of the table.
September crude oil futures were posting a $0.70 bbl loss at press time
printing $54.53 bbl. Front month RBOB gasoline blendstock futures were down
3.55cts at $1.6392 gallon at last look, and the September ULSD contract was
3.01cts in red figures at $1.8136 gallon.
New York Harbor 9.0-lb. RBOB has plunged 3.91cts to $1.6642 gallon heard
sold at a 2.5cts MERC premium for cycle 233e Buckeye Pipeline transport.
Gulf Coast A2 CBOB sold at 13.5cts and 13cts futures discounts for 48th
cycle Colonial Pipeline shipment, sending spot price 3.01cts below its day
prior DTN closing market rating to $1.5092 gallon.
Gulf Coast ultra-low sulfur diesel fuel has eased 2.86cts to $1.7626 gallon
on a 48th cycle Colonial Pipeline deal closed at a 4.5cts September futures
New York Harbor ULSD has pulled back 3.01cts to $1.8086 gallon, tagged for
43rd cycle Colonial Pipeline delivery at a 0.5cts futures discount.
G. Bud deGorgue, 1.802.524.1784, www.dtn.com. (c) 2019 DTN. All rights