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AMERICAS OIL: PBF Has Not Cut Allocations After Refinery Fire

AMERICAS OIL
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PBF Has Not Cut Allocations After Refinery Fire: California Fuel Suppliers -- OPIS

  • Northern California fuel suppliers on Tuesday said they have not seen a reduction in allocations from PBF Energy following a weekend fire at the company's 157,000 b/d Martinez refinery that led to a shutdown of the facility.
  • "Kind of expected the market to spike yesterday based on speculation alone," one supplier said. "But the volume is so low, if there's any time for there to be a refinery fire it would be now."
  • A reduction in allocations will become more likely the longer the refinery remains offline, a supplier said.
  • San Francisco's spot refined products market is weeks away from the seasonal shift to 5.99-lb. RVP gasoline specifications. PBF last month said it was planning 55-65 days of turnaround work at the refinery in the first half of the year and has likely secured sources of supply ahead of the maintenance work.
  • OPIS rack data showed PBF late Monday raised its price for unbranded CARFG with ethanol in San Francisco by 21.71cts to $2.9886/gal. The refiner also increased its price for unbranded CARFG with ethanol by nearly 25cts in Sacramento to $3.1061/gal. And in Chico, Calif., PBF boosted the price of unleaded unbranded CARFG by 25.21cts to $3.0261/gal.
  • At the spot market level, Bay Area CARBOB was put at a 31.5ct premium to the NYMEX March RBOB contract, putting the implied price at $2.4205/gal as of 10:23 a.m. ET.
  • PBF on Sunday said a "leak of hydrocarbon material" ignited during maintenance preparations Saturday.
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PBF Has Not Cut Allocations After Refinery Fire: California Fuel Suppliers -- OPIS

  • Northern California fuel suppliers on Tuesday said they have not seen a reduction in allocations from PBF Energy following a weekend fire at the company's 157,000 b/d Martinez refinery that led to a shutdown of the facility.
  • "Kind of expected the market to spike yesterday based on speculation alone," one supplier said. "But the volume is so low, if there's any time for there to be a refinery fire it would be now."
  • A reduction in allocations will become more likely the longer the refinery remains offline, a supplier said.
  • San Francisco's spot refined products market is weeks away from the seasonal shift to 5.99-lb. RVP gasoline specifications. PBF last month said it was planning 55-65 days of turnaround work at the refinery in the first half of the year and has likely secured sources of supply ahead of the maintenance work.
  • OPIS rack data showed PBF late Monday raised its price for unbranded CARFG with ethanol in San Francisco by 21.71cts to $2.9886/gal. The refiner also increased its price for unbranded CARFG with ethanol by nearly 25cts in Sacramento to $3.1061/gal. And in Chico, Calif., PBF boosted the price of unleaded unbranded CARFG by 25.21cts to $3.0261/gal.
  • At the spot market level, Bay Area CARBOB was put at a 31.5ct premium to the NYMEX March RBOB contract, putting the implied price at $2.4205/gal as of 10:23 a.m. ET.
  • PBF on Sunday said a "leak of hydrocarbon material" ignited during maintenance preparations Saturday.