Spot gasoline and diesel in San Francisco weakened against futures as state regulators said they may decide in the next several days whether to let Chevron Corp. begin restarting the crude unit at the Richmond refinery.
Spot gasoline in San Francisco climbed against futures for the first time in four days after Valero Energy Corp.’s Benicia refinery shut a hydrocracker and Chevron Corp.’s Richmond plant reported an electrical upset.
Chevron Corp., which paid $170,000 to settle California pollution allegations at a refinery, may face more penalties including prison sentences for employees stemming from a federal investigation of the case.
Bank of America Corp. and UBS AG filed claims in London against the region of Lombardy, pre- empting the municipal authority’s plan to sue the banks in the Italian courts in a dispute about derivatives fees.
Gasoline in the U.S. Northwest tumbled by the most in three years after trading switched from February to March delivery and Tesoro Corp. was said to be starting two gasoline-making units at the Anacortes refinery.