Jet Fuel News
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The following companies may have unusual price changes in trading on March 5. Stock symbols are in parentheses, and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
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Asia’s naphtha crack spread is poised for the biggest increase in three weeks. BP Plc received a discount for buying jet fuel in Singapore, the region’s biggest oil-trading center.
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California-blend diesel in San Francisco strengthened for the second day to the highest level against futures in almost four months after Chevron Corp. flared gases at the Richmond refinery in Northern California.
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Billionaire John Fredriksen will use the proceeds from selling shares of oil-rig operator Seadrill Ltd. to buy new ships worth as much as $3 billion, Arctic Securities ASA said.
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California-blend gasoline in Los Angeles fell to the lowest level against futures in two weeks as BP Plc and Valero Energy Corp. started refinery units and state inventories of the motor fuel jumped 7 percent last week.
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Gevo Inc., the U.S. biotechnology company backed by oil refiner Total SA and specialty chemicals maker Lanxess AG, rose the most in two weeks after saying it expects to begin shipments in July, on schedule, from a plant it’s completing in Minnesota.
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Following is the text of the weekly Petroleum Status Report from the U.S. Department of Energy:
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Asia’s naphtha crack spread headed for the biggest decline in four months. Brazil’s Petrobras sold fuel-oil cargoes in Singapore, the region’s largest oil-trading center.
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Amyris Inc., the U.S. biotechnology company 21 percent-owned by Total SA, reached a record low after reporting a fourth-quarter loss that surpassed analysts’ estimates and JPMorgan Chase & Co. cut its price target by two- thirds.
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Morgan Stanley is shipping a jet- fuel cargo at least 3,800 miles to Alaska as the owner of the world’s biggest brokerage expands the number of tankers it charters, according to shipbroker reports.
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