U.S. Gulf Coast gasoline extended its slump for a sixth day after a government report showed area inventories reached a record high for this time of year amid a surge in imports. Crack spreads fluctuated.
Spot gasoline in San Francisco gained against futures as Tesoro Corp.’s Golden Eagle refinery returned to normal operations after a power failure and Valero Energy Corp.’s Benicia plant restored electricity to its products rack.
Spot gasoline in Los Angeles strengthened against futures for a fifth straight day as Exxon Mobil Corp.’s Torrance refinery began shutting equipment, including the crude unit and a coker, for maintenance.
Spot gasoline in Los Angeles surged to a 10-week high against futures as Exxon Mobil Corp.’s Torrance refinery prepared to shut units for maintenance and Valero Energy Corp.’s Wilmington plant had an upset at its fluid catalytic cracker.
U.S. Gulf Coast gasoline weakened for a third day, falling to an 11-day low against futures, as operations returned to normal at Texas refineries owned by Valero Energy Corp. and Motiva Enterprises LLC.