LA CARBOB Regular Basis Surges by 6cts on High Demand

MIAMI, FL (DTN) — Basis for reformulated gasoline California Air Resources Board fuel standards rallied Thursday (4/23) in Los Angeles from where it was last seen trading on Wednesday (4/22).

Prompt Los Angeles CARBOB regular basis climbed by 6cts to a 66cts premium to May NYMEX RBOB futures after a trade was confirmed at that level. Los Angeles CARBOB premium basis spiked in tandem by 6cts to an 86cts premium.

Refinery utilization in the West Coast slipped to 77% from 82.5% in the week ending April 17, according to EIA data.