HOUSTON (ICIS)--ConocoPhillips shut down a fluid catalytic cracker at its 198,000 bbl/day Ponca City refinery in Oklahoma on Thursday, according to a state filing obtained on Friday.
Market sources said the outage should support higher prices in the Chicago spot market for diesel.
With the FCC unit offline, crude runs would be reduced, which would curtail supply of diesel from Ponca City and possibly make ConocoPhillips a buyer in the market.
The Ponca City outage also could affect regular unleaded gasoline in the Chicago spot market, though to a lesser extent.
The seasonal summer change in gasoline blends was on the horizon and was already putting pressure on gasoline prices in the spot market.
That pushes refiners to rid their supply of winter gasolines and start production of summer blends.
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