NYH Winter Gasoline Supply to Remain Robust: Argus

New York Harbour gasoline supplies could remain sufficient this winter if rising local production and USGC shipments outweigh weak Atlantic flows and logistical issues, according to Argus.

• High refinery runs in the region have helped boost refinery runs, with a rebound since maintenance season drew to a close.
• Shipments from the USGC have also boosted supplies as spreads for RBOB and CBOB are well above the Colonial Pipeline tariff.
• Some flows have been impeded by scheduling issues and the cost of the Colonial line space. Gasoline has also been competing on line 3 with diesel.
• Arrivals of European gasoline into the USA fell 20% on the week to a four-week low in the seven days to Dec. 21, according to Bloomberg.
• While imports from Europe are weak, this may be offset from arrivals from other regions, with Brazil the source of around 20% of NYH cargo volumes in December.