L.A. Spot Refined Product Prices Mixed, Futures Gain

    

   OAKHURST, N.J. (DTN) --- Spot refined products prices in the Los Angeles 
basin varied this afternoon, while benchmark RBOB and heating oil futures on 
the New York Mercantile Exchange extended gains. Regional cash basis values 
weakened and the lion's share of trade focused on the gasoline market.

   In paper trade, NYMEX crude oil and refined products futures settled higher 
thanks to gains in the equities markets as a successful auction of Portuguese 
government debt eased concerns about Europe's debt woes. A weaker U.S. dollar 
also lent support to higher oil prices.

   October RBOB futures settled up 0.65cts at $1.9394 gal, while the front 
month heating oil contract gained 0.74cts to $2.0817 gal settlement and October 
crude futures settled 58cts higher at $74.67 bbl.

   Trade sources said September gasoline meeting California's Air Resources 
Board requirements traded at 13.75cts, 13.0cts, 12.5cts and 11.75cts premiums 
to October RBOB futures, down from values at 14.0cts premiums yesterday. Spot 
price eased 1.6cts to $2.0569 gal.

   Premium CARBOB was talked at a 10.0cts regrade to the regular CARBOB, while 
conventional unleaded was assessed at a 5.0cts discount to the state mandated 
fuel.

   In the San Francisco Bay, prompt CARBOB held at a 3.0cts premium to L.A. 
assessments, down 1.6cts at $2.0869 gal.

   September sub-octane gasoline in the Pacific Northwest traded at a 19.5cts 
premium to October RBOB futures, up 0.5cts from the prior session. Spot price 
advanced 1.15cts to $2.1344 gal.

   On the diesel side of discussion, prompt ultra-low sulfur diesel in 
Portland, Oregon, was talked at a 20.0cts futures premium, up 0.74cts at 
$2.2817 gal.

   L.A. September CARB ULSD was assessed at 8.0cts by 9.0cts premiums to 
October heating oil futures, little changed at $2.1667 gal. Prompt ULSD in the 
region for export out-of-state traded at an 8.5cts futures premium, up 0.74cts 
at $2.1667 gal.

   Bay area prompt CARB ULSD traded at 11.25cts and 11.5cts premiums to October 
no.2 oil futures, up 1.74cts at $2.1967 gal.

   Dawn Gallagher, 1.732.531.4451, dawn.gallagher@telventdtn.com, 
www.telventdtn.com. (c) 2010 Telvent DTN. All rights reserved.