US Cash Products-Gulf Coast gasoline diverge ahead of new trading cycle

- Cash differentials for gasoline were mixed in the U.S. Gulf Coast on Monday, final day to trade for delivery of the product on the Colonial Pipeline's 36th annual pumping cycle to New York Harbor, traders said.

U.S. Gulf Coast M2 conventional gasoline RU-DIFF-USG fell 1.5 cents, trading 2.25 cents lower than the gasoline futures benchmark on the New York Mercantile Exchange RBc1, market participants said.

A2 CBOB gasoline CBOB-DIFF-USG gained three quarters of a cent, trading 17.75 cents per gallon below futures, traders said.

Gulf Coast 62-grade ULSD ULSD-DIFF-USG gained half a cent, trading 5 cents per gallon below the ultra-low sulfur diesel futures contract on the NYMEX HOc1. Monday is the final day to trade for delivery of the fuel on Colonial Pipeline's 35th annual cycle.

Chicago CBOB gasoline CBOB-DIFF-MC fell 15 cents, trading 10 cents per gallon below futures, traders said.​

Chicago ultra-low sulfur diesel ULSD-DIFF-MC was little changed, trading 20 cents per gallon below diesel futures.

Elsewhere in the Midwest, Group 3 V-grade gasoline RUV-DIFF-G3 fell 2.5 cents, trading 11 cents lower than the benchmark.

Group 3 diesel ULSD-DIFF-G3 gained 1.5 cents, trading 15.5 cents lower than the benchmark.

In New York Harbor, M3 conventional gasoline RU-DIFF-NYH was little changed, trading 1.75 cents per gallon below futures, traders said.

Diesel for delivery in New York harbor ULSD-DIFF-NYH was little changed, trading 0.5 cents per gallon above futures, traders said.

The RBOB futures contract on NYMEX RBc1 rose 0.0134 cents, and last traded at $2.9606 a gallon on Monday.
NYMEX ultra-low sulfur diesel futures HOc1 fell 0.0035 cents, and last traded at $3.263 a gallon on Monday.
Renewable fuel (D6) credits RIN-D6-US for 2019 traded between $2.36 and $2.37 each on Monday, down from $2.39 each in the previous session, traders said.
Biomass-based (D4) credits RIN-D4-US traded at $2.43 each, unchanged from previously, traders said.


Latest day

Timing

NYMEX Contract

Bid

Offer

Change

U.S. GULF COAST <0#P-USG, PPIM> * Scheduling

A2 CBOB gasoline CBOB-DIFF-USG

Cycle 36

July RBOB

-18.75

-18.25

0.75

M2 conventional gasoline RU-DIFF-USG

Cycle 36

July RBOB

-1.00

-0.50

-1.5

62-grade ULSD ULSD-DIFF-USG

Cycle 35

July HO

-5.75

-5.25

0.5

54-grade jet fuel JET-DIFF-USG

Cycle 35

July HO

-25.25

-24.75

0.00

Heating oil HO-DIFF-USG

Cycle 35

July HO

-16.00

-15.00

0.00

NEW YORK HARBOR <0#P-NYH, PPIL>

Bid

Offer

Change

M2 conventional gasoline RU-DIFF-NYH

Prompt

July RBOB

-2.00

-1.50

0.00

F1 RBOB RBOB-DIFF-NYH

Prompt

July RBOB

-1.75

-1.25

0.00

ULSD ULSD-DIFF-NYH

Prompt

July HO

0.25

0.75

0.00

Heating oil HO-DIFF-NYH

Prompt

July HO

-10.25

-9.25

0.00

Jet fuel JET-DIFF-NYH

Prompt

July HO

-25.25

-24.75

0.00

MIDWEST 0#P-G3, 0#P-MC, IHPROD/MIDCO

Bid

Offer

Change

Chicago CBOB gasoline CBOB-DIFF-MC

Cycle 3

July RBOB

4.75

5.25

-15

Chicago ULSD ULSD-DIFF-MC

Cycle 3

July HO

-20.25

-19.75

0.00

Group Three gasoline RUV-DIFF-G3

July RBOB

-8.75

-8.25

-2.50

Group Three ULSD ULSD-DIFF-G3

July HO

-17.25

-16.75

1.5