Midwest Gasoline Basis Jumps Despite Weekly Stocks Build


   
Maria Eugenia Garcia
DTN Energy Editor

    HOUSTON, TX (DTN) -- Midwest gasoline basis climbed across all four trading 
hubs on Thursday (9/3), driven by supply disruptions, firm demand even as a 
weekly inventory built was reported last week.

   Group 3 Conventional Premium basis recorded the largest increase of the 
session, rising 25cts to a 58.5cts premium over October NYMEX RBOB futures 
contract.  Wolverine and Buckeye Conventional Premium basis also rose, climbing 
9cts and 5cts increases, respectively, to trade at a $1.28 premium over the 
same benchmark.  

   CBOB Regular basis also strengthened across the board, with Wolverine 
leading the bullish sentiment with a 9cts increase to settle at a 6cts discount 
to the October NYMEX RBOB futures contract, recovering sharply from a prior 
15cts decline.

   Motor gasoline inventories in the PADD 2 region built by 100,000 bbl during 
the week ended August 28 to stand at 43.4 million bbl, according to the EIA's 
Weekly Petroleum Status Report. The build was the largest on a year-over-year 
basis since the week ended July 24, when inventories were reported at 44.33 
million bbl.

    




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