NYMEX gasoline ends week at record high

25 April 2008 21:09  [Source: ICIS news]

HOUSTON (ICIS news)--The May NYMEX reformulated blendstock for oxygenate blending (RBOB) gasoline contract settled on Friday at a record high, due to lower stockpiles, refinery turnarounds and the upcoming US summer driving season, according to trade sources.

May RBOB ended the NYMEX session at 305.37 cents/gal, up 3.51 cents from Thursday’s close. The settlement also represented an increase of 0.3 cents from the previous record high set on Wednesday at $305.07 cents/gal.

Friday’s record high also followed BP's announcement that it will shut down a fluid catalytic cracker (FCC) at its 460,000 bbl/day Texas City refinery in Texas for routine maintenance.

By: Brian Balboa
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