LA CARBOB Basis Rises 5cts on Higher Trade


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Los Angeles CARBOB gasoline basis strengthened Thursday 
(6/25) as higher trade levels reflected firmer buying interest despite 
improving regional gasoline supply conditions.
Regular Los Angeles CARBOB traded at a 35cts premium to July NYMEX RBOB futures 
Thursday, up 5cts from Wednesday's (6/24) last assessed value. Los Angeles 
premium CARBOB moved in tandem, rising by 5cts to a 45cts premium over July 
NYMEX RBOB futures.
The move higher comes even as regional gasoline supply fundamentals continue to 
improve following a steady recovery in inventories that has eased concerns over 
potential supply disruptions after refinery outages and flaring events 
supported stronger premiums earlier this spring.
Motor gasoline inventories in the PADD 5 region rebounded after a five week 
decline, climbing by 900,000 bbl to 28.9 million bbl during the week ended June 
19 from 28 million bbl the previous week, according to the EIA's Weekly 
Petroleum Status Report. Year-on-year, gasoline stocks in the region were 
200,000 bbl higher.
PADD 5 gasoline imports fell by 28,000 bpd to 68,000 bpd during the week ended 
June 19 and were 77,000 bpd lower than the same week last year.




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