US Cash Products-USG gasoline up on scheduling, outages

NEW YORK, Sept 11 (Reuters) - U.S. Gulf Coast gasoline rebounded by over a penny on Friday on pipeline scheduling and following a raft of regional refinery outages, traders said.

Flint Hills Resources said a power outage hit all units at the west plant of its 288,000 barrel-per-day refinery in Corpus Christi, Texas, Thursday afternoon following storms. Process units that shut included the No. 3 crude unit. [ID:nN11452437]

The news followed an announcement Thursday afternoon from top U.S. refiner Valero Energy Corp that it was shutting its entire 100,000-bpd Three Rivers, Texas, refinery on Thursday for a planned 24-day overhaul. [ID:nN10405078]

BP said an aromatics recovery unit and a desulfurization unit were shut at its Texas City, Texas, refinery. No big impact is seen from work on a leaking valve in the Texas City fluid catalytic cracker but repair continues on an ultraformer and an ultracracker, a source said. [ID:nN11442495]

In other markets east of the Rockies, New York Harbor gasoline price differentials added a little to Thursday's losses amid a large regional supply build.

According to Thursday's Energy Information Administration data PADD 1, East Coast, region showed an inventory increase of 1.1 million barrels last week, making a big contribution to the unexpected U.S. gasoline stocks gain of 2.1 million barrels at a total 207.2 million barrels. [EIA/S]

Supplies in the Gulf Coast also rose sharply last week.

U.S. oil producers and refiners said operations were normal Friday morning as they monitored a storm system in the western Gulf of Mexico that has a low chance of becoming a tropical cyclone. [ID:nN11449977]

U.S. crude oil futures sank more than 4 percent Friday and gasoline and heating oil were also sharply lower on demand worries following Thursday's data showing big increases in the inventories of U.S. petroleum products, including distillates.

For a complete list of refinery outages, click [REF/US]

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Scheduling cycle 52 gasoline differentials recovered on Friday, trading at 2.85 cents under the October RBOB board, up from deals between 3.75 and 4.25 cents under the October print on Thursday.

Cycle 52 61-grade ultra-low sulfur diesel, which schedules Friday, traded at 0.10 cent and 0.25 cent over the October heating oil benchmark futures, down from 0.75 cent late Thursday.

Cycle 53 88-grade heating oil traded at 5.15 cents under the October heating oil board.

Newly prompt cycle 53 54-grade traded at 1.75 cents under the board.

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F4 reformulated winter spec gasoline for Sept. 15 fell with offers set at 1.25 cents under the sharply lower October RBOB futures, down from Thursday's trading at 1 cent under, deepening its losses this week.

M4 conventional regular for Sept 15 was also pegged lower, at 1.85 cents over the print, down from 2.25 cents over, traders added.

ULSD offers edged up half a penny at 3 cents over the October print. Jet fuel offers fell to 1.50 cent under, reversing Thursday's notional rise to 0.25 cent under.

Kerosene rose half a penny at 8 cents over the print.

Heating oil was offered a quarter cent lower at 4 cents under the October print.

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Group Three gasoline differentials were within range, pegged at even to the October RBOB board. In Chicago, gasoline differentials were also flat for cycle 2 at 4 cents over the board.

Ultra-low sulfur diesel differentials in Group Three inched up about half a penny to 3.75 cents over October heating oil futures.

In Chicago, the grade was also stronger, pegged at 3/3.50 cents over after trading at 3 cents over on Thursday. (Reporting by Haitham Haddadin and Rebekah Kebede)