U.S. Gulf Coast gasoline weakened relative to futures after Valero Energy Corp. restarted a unit at the Port Arthur, Texas, refinery.
The following is a selection of the most important news affecting the oil market.
Gulf Coast gasoline rebounded from the largest discount in more than three weeks after Motiva Enterprises LLC shut units at the nation’s biggest refinery.
Gasoline fell as supplies are rising even as refiners have shut units for unplanned work and fuel production is down.
Spot gasoline in San Francisco strengthened for a third day to the highest level in a week as Valero Energy Corp.’s Northern California refinery worked to increase rates at a unit following an upset over the weekend.
Spot diesel in Los Angeles advanced to the highest level against futures in almost two weeks after distillate stockpiles on the U.S. West Coast tumbled to the lowest level since May 3.
Spot gasoline in California gained as at least two tankers were chartered to load refined products on the U.S. West Coast early next month for export to South and Central America.
"Power was restored quickly, and there were no issues with supplying customers."
- Bill Day on May 20, 2013