Gulf Gasoline Softens as Regional Supply reaches 4mos High
12/11 5:02 PM
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 five-year average. 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, brian.milne@dtn.com, www.dtn.com. (c) 2019 DTN. All rights reserved.
 
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