The Wilmington section of Marathon Petroleum’s Los Angeles refinery recently experienced an unexpected flaring incident, as revealed in a regulatory filing with the South Coast Air Management District. The exact cause of the event remains unknown and is currently being investigated. Unfortunately, a Marathon company spokesperson was unavailable for comment regarding this matter.
In terms of market impact, the Los Angeles CARBOB spot market did not witness any bids or offers, leading to differentials remaining unchanged compared to Monday’s mean assessment of 2 cents above the NYMEX January RBOB futures contract. However, cash prices did rise by 4.18 cents to reach $2.2208 per gallon as of 4:35 p.m. E.T.
Furthermore, the outer-timing January L.A. CARBOB saw two trades occurring at 19 cents above the NYMEX February RBOB futures, representing a 0.5 cent decrease from Monday’s recorded value.
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