PNW Sub-Octane Regular Basis Surges 15cts on Tight Supply


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Basis for prompt Pacific Northwest sub-octane regular 
surged 15cts Thursday (2/19) to a 55.5cts premium over March NYMEX RBOB 
futures, driven by limited supplies and firm demand. 

   A bid for PNW sub-octane regular was heard at a 55cts premium to the same 
benchmark. The basis was pegged at a 40.5cts premium to March NYMEX RBOB 
futures contract in the previous trading session.

   West Coast (PADD5) gasoline stocks fell by 100,000 bbl to 30.3 million bbl 
during the week ended February 13, data from the U.S. Energy Information 
Administration showed on Thursday. PADD 5 gasoline stocks were 1.7 million bbl 
higher than the same week last year.

   Gasoline imports into the region climbed by 47,000 bpd to 123,000 bpd last 
week, compared with 2,000 bpd in the same week of last year.

   Refining utilization in PADD 5 rose to 87.4% during the week to February 13, 
from 82.4% the prior week, the EIA data showed.




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