L.A.Spot Gasoline Gains on Futures Rally on Wkly Jobs Data

    

   HOUSTON (DTN) -- Spot gasoline prices in Los Angeles gained on Thursday amid 
a strengthening cash basis and a rally for New York Mercantile Exchange RBOB 
futures on better-than-expected weekly jobs data. 

   The U.S. Labor Department reported that initial jobless insurance claims 
fell by 6,000 to 472,000 last week. The report surprised traders who expected 
the data to be more bearish. News that a Houston-based Mariner Energy Inc. oil 
rig exploded in the Gulf of Mexico also raised concerns that the federal 
government would extend the offshore drilling ban and cause supply tightness in 
the future. 

   At settlement, October RBOB futures rose 3.25cts at $1.9216 gal. Nearby 
delivery heating oil futures added 2.12cts to $2.0623 gal. The October crude 
contract climbed added $1.11 at $75.02 bbl.

   September CARBOB was done at 11.75cts, 11.25cts, 11cts, 12cts, 13cts and 
13.5cts futures premiums today compared to deals concluded at an 11.5cts 
premium to October RBOB futures on Wednesday. At settlement, spot price was up 
5.25cts to $2.0566 gal.

   In the San Francisco Bay, September CARBOB remained assessed at a 3cts 
premium to L.A. assessments. Spot price added 5.25cts at $2.0866 gal.

   September sub-octane gasoline in Portland, Oregon, was done at 15cts and 
14.5cts premiums to futures, down from a 16cts premium on Wednesday, with spot 
price up 2.75cts at $2.0766 gal.

   L.A. September CARB ultra-low sulfur diesel was assessed at an 8cts premium 
to futures with no bid, down from deals done at 8.5cts on Monday.

   Spot price gained 2.12cts at $2.1423 gal. September ULSD for export 
out-of-state was assessed at 6.5cts premium to futures values, up 1.37cts at 
$2.1273 gal.

   Portland ULSD was done at a 21.5cts premium to futures values, up 3.12cts at 
$2.2773 gal.

   CARB ultra-low sulfur diesel in the bay was offered at an 11cts premium to 
futures, with no bid, up 0.62cts at $2.1673 gal.

   T.L. Hamilton, 1.832.767.2622, tl.hamilton@telventdtn.com, 
www.telventdtn.com. (c) 2010 Telvent DTN. All rights reserved.