Midwest CBOB Basis Slides Across Delivery Points


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- Chicago CBOB basis extended losses Thursday (10/2), 
with declines seen across Wolverine, West Shore, and Buckeye delivery points 
against November RBOB futures.

   Wolverine barrels traded at an 11cts discount to November RBOB futures 
contract , down 5cts from Wednesday, DTN Energy data showed. Chicago CBOB basis 
for West Shore was assessed at a 12cts discount to November RBOB futures, 
falling 8.25cts from the prior day. Buckeye barrels were marked at a 6cts 
discount, weaker by 5cts compared to the prior trading daty, according to the 
same data.

   "I've been trying to find a good reason for this big drop, only that we 
could see is as we get close to the last day for C1, one of the big refiners 
was trying to sell at the last day of C1 and couldn't find buyers," a source 
familiar with Midwest trading said.




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