US Gulf Coast conventional unleaded gasoline jumped 6.98 cents/galFriday as traders were unwilling to go into the weekend short of barrelsbecause of rising tensions in the Middle East and a strengthening euro.
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The outright values for gasoline also were boosted by both a strongerNYMEX October RBOB contract and a higher cash differential.
"The NYMEX jumped due to strength in the the euro and Middle Eastissues," one trader said, adding that he believes traders were covering shortsbefore the weekend.
The cash differential for conventional unleaded was up 1.55 cents atthe NYMEX October RBOB contract plus 8.8 cents/gal from plus 7.25 cents/galThursday.
The NYMEX October RBOB contract was assessed by Platts 5.43 cents/galhigher at $3.0201/gal from $2.9658/gal Thursday. The NYMEX RBOB settle was$3.0156/gal Friday and $2.9622/gal Thursday.
This led to a Platts assessment at $3.1081/gal.
--David Ruisard, firstname.lastname@example.org--Edited by Jeff Barber, email@example.com