PNW Sub-Octane Regular Basis Drops 10cts on Lower Offers


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Pacific Northwest sub-octane regular basis dipped by 10 
cents to a 34.5cts premium against the December NYMEX RBOB futures contract on 
Tuesday (11/18), after lower offers were heard in early trading.

   Market sources said an offer for PNW sub-octane regular was heard at a 35cts 
premium, shifting the basis down from the 44.5cts premium seen on Monday 
(11/17) to below the offer at 34.5cts.

   Confirmation of a trade at that level was not verified at the time of 
publication.

   The market also continues to watch last week's Olympic Pipeline shutdown 
after BP Pipelines North America halted portions of the system on November 11 
when a sheen was discovered near a right of way east of Everett, Washington.

   The precautionary halt briefly limited regional product flows across the 
400-mile network, which typically moves about 325,000 bpd of refined products.

   "Olympic continues to investigate a release of refined products east of 
Everett, Washington," BP said in a statement to DTN, adding that it restored 
service on the unimpacted segment on Sunday, November 16, "enabling product 
delivery".




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