Product futures rally on refinery strike concerns

摘要

New York—NYMEX refined products rallied Monday over supply concerns as a strike continued for a second day at nine US refineries and chemical plants. March RBOB settled 6.58 cents higher at $1.5446/gal. April RBOB settled 5.84 cents higher at $1.7589/gal, narrowing the market’s prompt contango. March ULSD ended 5.67 cents firmer at $1.7575/gal. ICE March Brent settled $1.76 higher at $54.75/b. NYMEX March crude closed up $1.33 at $49.57/b. The refined product gains outpaced crude, reflecting the supply concerns. The NYMEX RBOB crack spread against ICE Brent widened 89 cents/b to $10.01/b.