Spot jet fuel spreads in New York and on the Gulf Coast reached their highest levels in 19 months as Hovensa LLC reduced rates at its St. Croix refinery in the U.S. Virgin Islands and airlines flew more.
Gasoline led gains by oil and heating oil as Hovensa LLC shut the 150,000-barrel-a-day fluid catalytic cracker at its St. Croix refinery for repairs, reducing supplies of the motor fuel available to the U.S. East Coast market. Ethanol also rose.
Hovensa LLC restarted a 150,000- barrel-a-day fluid catalytic cracker at its St. Croix refinery in the U.S. Virgin Islands on Dec. 24, a company spokesman said. The unit was shut down Dec. 9 for unplanned repairs, according to data compiled by Bloomberg.
Hurricane Earl moved west toward the northern Leeward Islands after strengthening from a tropical storm, and Hurricane Danielle weakened as it tracks north away from Bermuda, the U.S. National Hurricane Center said.