US Cash Products-Gasoline up as supply draw seen

NEW YORK, May 27 (Reuters) - Cash gasoline edged up in markets east of the Rockies on Wednesday amid expectations of further declines in national stockpiles of motor fuel as the summer driving season starts, traders said.

A preliminary Reuters poll of industry analysts on Tuesday indicates they expect new government statistics due Thursday morning to show total U.S. stocks of gasoline fell by 1.8 million barrels in the week of May 22 atop a cumulative decline of more than 13 million barrels over four weeks. [EIA/S]

The analysts expect U.S. distillates stocks to rise 900,000 barrels while crude oil supplies fell 1.1 million barrels.

In the small Chicago market, prompt gasoline was quoted sharply higher but no trades were heard, traders said.

"I have not heard it change hands. It's more than likely BP or Marathon showed themselves as buyers," a trader said.

In the New York Harbor, reaction overall was somewhat muted to news late Tuesday that Sunoco's (SUN.N: Quote, Profile, Research) 335,000-barrel-per-day Philadelphia refinery was without gasoline production after the larger of two fluidic catalytic crackers shut due to a malfunction. [ID:nNN2651323]

"Unless he comes out buying, what will make the market move?" said one NY Harbor gasoline trader, adding the market was "not doing much of anything."

Sunoco's 178,000-bpd Marcus Hook, Pennsylvania, refinery had shut a gasoline-making FCC unit recently after a recent fire.

LyondellBasell said there was no impact on production from a benzene recovery unit leak at its 270,600-bpd Houston refinery on Tuesday. [ID:nN26459303]