LA CARBOB Basis Falls 4cts on Softer Prompt Market


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Prompt Los Angeles CARBOB regular basis weakened Tuesday 
(6/16), falling by 4cts as prompt market values softened despite a recent 
rebound in West Coast gasoline inventories.
Los Angeles CARBOB regular traded at 20cts premium to July NYMEX RBOB futures, 
down 4cts from Monday's (6/15) last traded level of 24cts premium, according to 
West Coast gasoline market participants.
Los Angeles CARBOB's premium product moved in tandem with the basis, declining 
by 4cts to 30cts premium, maintaining the typical 10cts spread over regular 
CARBOB values.
Motor gasoline inventories in the PADD 5 region rebounded after four 
consecutive weekly declines, climbing by 200,000 bbl to 27.3 million bbl during 
the week ended June 5, after rising from 27.1 million bbl the prior week, 
according to the EIA's Weekly Petroleum Status Report. Gasoline stocks were 1.3 
million bbl lower than the same week last year.




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