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Gulf Gasoline Gains for Fifth Day on Shell Deer Park Fire

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By Christine Harvey – Feb 12, 2013 9:24 PM GMT

U.S. Gulf Coast gasoline rose for a fifth day after fire broke out at a Royal Dutch Shell Plc refinery in Texas.

The 340,000-barrel-a-day Deer Park plant had a fire at about 9:30 a.m. local time, said Kimberly Windon, a company spokeswoman in Houston. The fire “was quickly isolated and contained to one unit,” and there were no injuries, she said.

Conventional, 87-octane gasoline on the U.S. Gulf Coast strengthened 1.88 cents to a discount of 12.75 cents versus futures on the New York Mercantile Exchange at 4 p.m., the narrowest gap since Jan. 8, data compiled by Bloomberg showed. Reformulated, 84-octane gasoline rose 0.88 cent to 9.75 cents below futures.

Ultra-low-sulfur diesel in the region strengthened 0.5 cent to trade at a premium of 5.5 cents above heating oil futures.

The 3-2-1 crack spread, or a measure of refining profitability for gasoline and distillates based on West Texas Intermediate in Cushing, Oklahoma, gained 51.61 cents to $29.93 a barrel. The same spread for Light Louisiana Sweet oil advanced $1.92 to $9.43 a barrel.

To contact the reporter on this story: Christine Harvey in New York at [email protected]

To contact the editor responsible for this story: Dan Stets at [email protected]

SOURCE

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