Midwest CBOB Basis Mixed as Group 3 Premium Trims


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Midwest CBOB cash differentials diverged Friday 
(8/14), with Group 3 premiums paring recent gains while Chicago values edged 
slightly higher into the weekend.

Group 3 CBOB basis fell 7.5cts on the session to trade at a 10 cts premium over 
September NYMEX RBOB futures, relinquishing the sharp advance from Thursday 
(8/13).

   In contrast, Chicago CBOB basis maintained an upward bias, strengthening 
0.5cts on the day to trade at a 3.5cts premium to the same benchmark.

   Despite Friday's daily pullbacks in Group 3, weekly spot averages across the 
Midwest finished sharply higher week-on-week, according to DTN market data.

   For the week, Group 3 CBOB averaged $3.2615 gallon for the current week, up 
34.38cts, or 11.78%, from $2.9177 gallon the previous week.  Chicago CBOB 
regular averaged $3.1545 gallon across the week, gaining 21.42cts, or 7.29%, 
compared with $2.9403 gallon the prior week.

   The mixed cash performance unfolded against a firming paper market, with 
benchmark refined product futures rebounding to close out the week on a strong 
note. NYMEX September RBOB futures advanced $0.0561, or 1.79%, to settle at 
$3.1841 gallon on Friday. For the week, the front-month gasoline contract 
climbed nearly 7%, bolstered by geopolitical tension and persistent physical 
supply risks along the Strait of Hormuz.

   Underlying physical support across PADD 2 channels remains anchored by U.S. 
Energy Information Administration data showing regional gasoline inventories 
drawn down by 400,000 bbl to 43 million bbl for the week ended August 7. The 
weekly drawdown keeps Midwest motor gasoline stocks 4 million bbl below 
corresponding 2025 levels.

   Ongoing disruptions at the Wood River refining hub and throughput limits at 
the Lamar pipeline junction have also kept a floor under Midwest CBOB 
differentials.

    




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