Group 3 Oil Products Higher, Mixed in Chicago at Midday
9/25 12:31 PM
Group 3 Oil Products Higher, Mixed in Chicago at Midday BURLINGTON, Vt. (DTN) -- Spot market oil product prices in Oklahoma Group 3 are generating gains at midday Tuesday and posting mixed results in Chicago, where trading has rolled to October pipeline delivery cycles and November futures basis pricing. Group 3 has been an active trading arena this morning, with Chicago business subdued. Oil futures prices are higher at midday, but lacking the rate of ascent noted during Monday's formal trading session. Prices may have reached critical mass during the recent upsurge generated by global oil market supply worries, and fresh positive intel might be required before for a fresh leg up can begin, some analysts contend. November WTI futures were $0.09 higher at press time printing $72.17 bbl. October ULSD futures were up 1.82cts at $2.3041 gallon at midday, and November futures were 2.34cts higher trading $2.3136 gallon. October RBOB futures were 1.11cts on positive ground at $2.0658 gallon, and the November contract was 1.20cts on the plus side printing $2.0541 gallon at last check. V-grade Group 3 suboctane 10.0-lb. regular was reported sold at a 2.50cts October futures premium for prompt offline Magellan Pipeline supply that boosts spot price 1.26cts to $2.1907 gallon, Chicago 11.5-lb. CBOB has backtracked 1.31cts below its Monday DTN closing market rating to a notional $2.1691 gallon, priced 11.5cts over the November futures print for first cycle October pipeline delivery. Group 3 X-grade ultra-low sulfur diesel sold for prompt Magellan Pipeline offtake at a 2.5cts October MERC premium that gives spot price a 1.32cts lift to $2.3291 gallon. Chicago ULSD has soared 5.04cts to a notional $2.3088 gallon, assessed for first cycle October pipeline delivery at par with the November futures print. G.Bud deGorgue, 1.802.524.1784, www.dtn.com. (c) 2018 DTN. All rights reserved.