Gulf, NYH Oil Products Open Week Higher in Active Trade
BURLINGTON, Vt. (DTN) -- Open market diesel fuel and gasoline prices headed
higher to open the truncated trading week thanks to an upside swing in spot
market benchmark December ULSD and RBOB futures on the New York Mercantile
Business was active to open the shortened Thanksgiving holiday trading week.
The December WTI contract went off the board this afternoon posting a $0.30
advance at $56.76 bbl, and January futures will trade in the front month slot
based on a $0.52 advance to $57.20 bbl finish at today's formal session close.
December ULSD futures rallied 1.27cts to $2.0864 gallon, and frontline RBOB
futures climbed 0.59cts to $1.5829 gallon at settlement.
Gulf Coast 62-grade diesel fuel sold at a 9.35cts December futures discount
for shipment on Colonial Pipeline's 66th cycle that moved spot price 1.42cts
above its Friday DTN closing market assessment to $1.9929 gallon. Undyed
77-grade heating oil climbed 1.52cts to $1.9114 gallon, trading at a 17.50cts
December futures discount for 66th cycle CPL transport.
ULSD in New York Harbor edged 0.87cts above its Friday closing valuation to
a notional $2.0824 gallon, offered prompt with barge or Buckeye Pipeline
transport options at a 0.15cts MERC discount.
Gulf Coast 13.5-lb. regular no lead ramped up 50pts in basis and 1.09cts in
flat price to $1.5454 gallon, selling ahead of 66th cycle Colonial Pipeline
late day tender deadlines at a 3.75cts December futures discount.
A4 CBOB rallied 1.34cts to $1.4804 gallon, trading at a 10.25cts MERC
discount for 66th cycle CPL consignment, and F4 RBOB gained 125pts in cash
differential and 1.84cts in flat price to $1.5029 gallon on a 66th cycle CPL
deal booked 8.0cts below the December futures contract.
New York Harbor 15.0-lb. F5 RBOB was reported sold for prompt barge lifting
0.75cts over the MERC that limited spot price to a 0.19cts advance at $1.5904
Conventional M4 regular no lead climbed 0.84cts to $1.6529 gallon, trading
at a 7.0cts futures premium for offline Colonial Pipeline delivery.
G.Bud deGorgue, 1.802.524.1784, www.dtn.com. (c) 2018 DTN. All rights