Midwest Spot Oil Product Prices mostly Lower at Midday
6/17 12:49 PM
Midwest Spot Oil Product Prices mostly Lower at Midday BURLINGTON, Vt. (DTN) -- Profit taking on the New York Mercantile Exchange oil futures complex has pressured gasoline and distillate prices in Oklahoma Group 3 Monday, where open market trading has been active. The transition in Chicago to the final June pipeline delivery cycle has scattered finished product price all over the board on wide basis swings. NYMEX July RBOB futures have faded 1.8cts to $1.7145 gallon at press time, and frontline ULSD futures were posting a 1.61cts session loss at $1.8133 gallon. Spot month WTI crude oil futures have traded in a narrow range this morning, and were $0.26 lower at last glance trading $52.25 bbl. Chicago 9.0-lb. CBOB has toppled 4.8cts to a notional $1.6345 gallon for third cycle June pipeline delivery, slumping 3cts to an 8cts MERC discount. Group 3 suboctane regular was reported sold at a 10.5cts futures discount for prompt offline Magellan Pipeline delivery, moving spot price 1.55cts below its Friday DTN closing market rating to $1.6095 gallon. Chicago ultra-low sulfur diesel fuel has swung 3.39cts higher to an implied $1.6833 gallon, on a 500pts improvement to a 13cts basis discount for third cycle pipeline offtake. X-grade ULSD in the Group sold for prompt Magellan Pipeline delivery 2.5cts below the July futures print, paring flat price 1.36cts to $1.7883 gallon. G. Bud deGorgue, 1.802.524.1784, bud.degorgue@dtn.com, www.dtn.com. (c) 2019 DTN. All rights reserved.
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