Jet fuel differentials in New York Harbor showed sharp gains Monday assources said a refiner was covering shorts.
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S&P Global Platts assessed jet on Buckeye Pipeline at the NYMEX JanuaryULSD futures contract minus 2.25 cents/gal, up 2.75 cents from Friday.
Sources said a refiner bought three 25,000-barrel batches at minus 3cents/gal over the weekend.
"Sounds like a refiner has a problem, maybe short covering," said onedistillates trader.
Bids in the Platts Market on Close assessment process for Atlantic Coastjet fuel reached minus 2.50 cents/gal, setting the day's assessed value.
New York Harbor differentials rose almost 2 cents/gal late last week assources said a jet cargo would be headed to Montreal.
Platts cFlow vessel tracking software confirmed the NS Point leftMontreal unladen last Tuesday. The vessel was outside New York Harbor Monday,waiting to be loaded for its voyage back up to Montreal.
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--Edited by Richard Rubin, email@example.com