Gulf Gasoline Softens as Regional Supply reaches 4mos High
CRANBURY, N.J. (DTN) -- Basis weakness for gasoline in the Gulf Coast
continued Wednesday after the Energy Information Administration reported a
fifth consecutive weekly build in regional gasoline supply lifting PADD 3
inventories to a four-month high at 83.743 million bbl in early December.
Gasoline inventory in the Gulf sits 2.768 million bbl or 3.4% above the
Cycle 71 A4 CBOB traded at a 10.25cts discount to January futures on the New
York Mercantile Exchange in the contango market, weakening 25 points. Cycle 71
M4 conventional regular traded at a 5.1cts discount to futures, with basis 35
points lower. Cycle 71 F4 RBOB traded at a 9.5cts discount to futures, with
basis flat. Gasoline basis has been under pressure throughout the week.
Brian L. Milne, 1.402.255.8020, email@example.com, www.dtn.com. (c) 2019
DTN. All rights reserved.