Chicago CBOB gasoline for delivery through June 4 jumped 9 cents/gal Thursday to NYMEX July RBOB futures plus 3 cents/gal on the back of refiner buying and a government report showing tight gasoline supply in the Midwest, sources said.
Platts assessed Chicago CBOB at the NYMEX minus 6 cent/gal Wednesday.
Regional gasoline stocks fell 2.047 million barrels to a 38-week low of 47.181 million barrels in the week that ended May 23, US Energy Information Administration data showed Thursday.
Group-3 V-grade rose 2 cents to NYMEX June RBOB futures minus 14.5 cents/gal on a heard trade there.
"I don't think V-grade is done for the day, given the strength in Chicago," a Midwest broker said. "Everybody in Chicago that has been puking barrels recently has moved back to the buy side."
BP and Marathon were in the Chicago market as buyers, sources said.
Spokesmen for both companies did not immediately return messages left for comment Thursday.
Marathon is repairing damage from a tornado this week at its 522,000 b/d refinery in Garyville, Louisiana, and has shut a crude distillation unit at the facility.
In the Gulf Coast market, 9.0 RVP CBOB was seen trading up to NYMEX July RBOB futures minus 18 cents/gal. It was assessed at minus 20 cents/gal Wednesday.
EIA data showed a 1.5-million barrel decline in USGC gasoline inventories for the week that ended May 23. Inventories stood at 72.9 million barrels, down from 74.4 million barrels a week earlier.
