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| Portland suboctane cash differentials, rack prices rise on Olympic Pipeline issue |
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| News Source：http://www.jinchemical.com/
; SendDate：2014-11-12 11:32:21 |
The Portland suboctane cash differential continued to strengthen Friday on market talk of a continued shutdown on a segment of the Olympic Pipeline.
On Friday morning, the Portland suboctane cash differential jumped 8.75 cents after it was last heard to be bid at NYMEX December RBOB plus 10 cents/gal. On Thursday, Platts assessed Portland suboctane at NYMEX December RBOB plus 1.25 cents/gal. The Portland suboctane cash differential is up 17 cents since Monday.
On Thursday, Platts reported that there was an outage on a segment of the 400-mile Olympic Pipeline system that transports gasoline, diesel and jet fuel to 10 delivery sites, 23 terminals and nine pumping stations. The outage resulted in Kinder Morgan and Nustar terminals not receiving products, several market sources said.
Media relations representatives for Olympic Pipeline and its parent BP have not responded to repeated inquiries seeking comment.
Several market sources said the spot market could be short on prompt supply of Portland suboctane as barges of gasoline have been exported from the West Coast in the last few weeks.
"I think with OPL [Olympic Pipeline] down, traders are going to conserve rack sales. I'd say, in general, racks move with the spot market," a market source said.
Unleaded regular Portland gasoline at the rack rose about 7 cents from Thursday's assessment to $2.2324/gal. On Friday morning, unleaded regular Seattle gasoline at the rack also rose about 7 cents from Thursday's assessment to $2.2430/gal.
"The problem with the Olympic Pipeline is at the Allen, Washington, pump station where is leak is suspected. This could have a major impact on the spot market from Seattle down to Portland, Oregon, if it lasts through next week," a second market source said. |
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