Differentials for Los Angeles CARBOB, a grade of gasoline, saw little effect from the wildfires burning in Ventura and Los Angeles counties Thursday morning, sources said.
The US National Weather Service had a Red Flag warning in place for these counties Thursday morning, which denotes extreme fire danger due to strong winds and low humidity. That warning has been extended through Saturday as authorities continue their efforts to contain various conflagrations in the region.
Trade sources said that, so far, these fires are having a negligible impact on local gasoline cash markets. One source said he had "not seen much of an impact" from the fires Thursday. A second source agreed, saying "gasoline won't be impacted much, unless a refinery becomes impacted."
S&P Global Platts assessed Los Angeles CARBOB for December delivery at January NYMEX RBOB futures minus 7 cents/gal Wednesday, and this value seems to have held steady though Thursday. A source said LA CARBOB was bid at futures minus 10 cents/gal and offered at futures minus 5 cents/gal early in the day.
