Distillates: Strong basis takes a toll on NY diffs

摘要

Hard driving NYMEX heating oil futures prices knocked the wind out of the New York Harbor cash markets Friday,pushing ULSD and jet differentials lower,trading sources said.New York Harbor jet 54 cash differentials slid 2 cents/gal as buying remained limited due to sharply higher NYMEX prices,sources said.During the Platts Market on Close assessment process,jet 54 was offered down to the June NYMEX plus 16 cents/gal for prompt barrels delivered to Buckeye Pipeline.