Los Angeles July CARBOB Basis Flat after Thursday Drop


   
Kristina Davis
DTN Refined Fuels Market Reporter

    

   MIAMI (DTN) --- Los Angeles prompt CARBOB differentials held steady early 
Friday following a drop the prior session in volatile trade.

   July prompt CARBOB was last pegged at a 1cts premium to August NYMEX RBOB 
futures, unchanged from Thursday's sharp 15cts move to the downside. Basis 
fluctuated throughout the day yesterday, initially trading at a 5cts futures 
premium before falling to a 2cts premium and then ending the session at a 1ct 
premium.

   The basis drop on Thursday combined with a better than 3.5ct loss by August 
NYMEX RBOB futures to drag spot price down more than 19cts on the session.




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