03 February 2011 20:42 [Source: ICIS news]
HOUSTON (ICIS)--Spot prices for US Gulf refined products weakened slightly versus NMEX futures as inventories rose and turnarounds began, market sources said on Thursday.
In mid January, US Gulf unleaded gasoline was at a discount of 5.00-6.00 cents/gal to NYMEX gasoline futures. Prices this week were at a discount of 7.00-9.00 cents/gal.
Gasoline stocks were 8.1m bbl higher than the same time last year, hitting 236.2m bbl for the week ended 28 January. Distillate fuel oil stocks were 7.5m bbl higher at 164.1m bbl.
As a result of strong stock builds, the market has not been lacking in available product.
The naphtha spot market strengthened slightly on scarce supply as crude units shut down for turnarounds and on scant cargoes from ?xml:namespace>
The primary turnarounds in process are:
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