* Chicago diesel tumbles on drop in demand
* New York heating oil, RBOB strengthen
* Gulf Coast shrugs off Mississippi refinery snag
NEW YORK March 9 The Chicago refined
products cash markets were a mixed bag on Friday, with diesel
tumbling and gasoline rallying.
Chicago ultra-low sulfur diesel fell 7.50 cents a gallon as
demand waned and refiners injected more of the product into the
market, traders said.
Cycle 2 ULSD traded between 20.00 and 15.00 cents under the
April heating oil futures contract on the New York Mercantile
Gasoline in Chicago, however, rose 2.50 cents to 10.00 cents
under the April NYMEX RBOB gasoline futures contract, after
barrels of the higher Reid vapor pressure, transitional-grade
were said to be in tight supply, traders said.
March's third cycle, featuring the lower RVP gasoline, will
start trading next week. It was pegged at 7.00/5.00 cents under,
Modestly cooler weather in the U.S. Northeast and
"bargain-basement" differentials boosted the market for prompt
heating oil on Friday, after a cold front moved temperatures
down to more seasonal levels in the region, traders said.
Prompt heating oil was called a quarter cent stronger at
2.00/1.50 cents under in limited, pre-weekend trade.
Any-March barrels were steady and talked at either side of
1.00 cent under.
Other distillate markets were also steady, with both ULSD
and jet fuel pegged at either side of 6.00 cents over.
The gasoline market in the Harbor edged higher as traders
continued to clean up winter-grade, higher-RVP positions ahead
of the end-of-the-month switch to transitional, mid-RVP
Prompt F4 RBOB was pegged at either side of 26.50 cents
under, up 0.50 cent, while prompt M4 conventional gasoline was
called 23.75/23.25 cents under, up a half cent.
In the Gulf Coast, cash markets ignored the shut down of
units at Chevron Corp's 330,000 barrel-per-day
Pascagoula, Mississippi, refinery and traded close to levels
seen on Thursday.
Summer-grade gasoline traded at 19.00/18.25 cents under,
about 0.40 cent lower, traders said.
Gulf Coast ULSD was steady at 2.75/3.25 cents over.
For more refinery news, please go to
U.S. GULF COAST
Cycle 16 M2 gasoline slipped about 0.40 cent a gallon to
19.00/18.25 cents under April RBOB futures.
Cycle 15 61-grade ultra-low sulfur diesel was seen done at
2.75/3.25 cents over the April heating oil screen, up half a
Cycle 15 54-grade jet fuel was a quarter cent higher at 2.25
Heating oil for Cycle 15 fell back 0.10 cent to 4.85 cents
NEW YORK HARBOR
Prompt heating oil was talked at 2.00/1.50 cents under, up a
quarter cent, while any-March barrels were talked modestly
weaker at either side of 1.00 cent under.
Prompt and any-March low sulfur diesel were pegged at
0.75/1.25 cents over, unchanged.
Prompt and any-March ULSD were called 5.75/6.25 cents over,
Prompt and any-March jet fuel were talked at either side of
6.00 cents over, unchanged on the day.
March kerosene was pegged at 10.50/11.50 cents over.
Prompt F4 RBOB was called 26.75/26.75 cents under, up 0.50
cent, while any-March barrels were talked at either side of
26.00 cents under, unchanged.
Prompt M4 conventional gasoline was pegged at 25.00/24.50
cents under, up a half cent, while any-March material was called
either side of 24.50 cents under, unchanged.
Cycle 2 Chicago gasoline jumped 2.50 cents to 11.00/9.00
Chicago ULSD dipped by 7.50 cents to 20.00/15.00 cents under
April heating oil futures.
Group Three gasoline fell a half cent to 19.00/18.00 cents
under, while ULSD was seen flat at 1.50/0.50 cents under April