– Offer in MOC process falls to 211 cents/gal
– Spot falls below NYMEX RBOB futures
The US Gulf Coast MTBE market extended declines Thursday as an offer in the Market on Close assessment process continued to attract no buying interest. The lower offer pulled spot values below NYMEX RBOB gasoline futures for the first time since early March. Lengthening global supply has weighed on spot prices.
S&P Global assessed spot Gulf Coast MTBE at 210.95 cents/gal Thursday, down 5.05 cents from Thursday. The assessment was below an offer in the Market on Close assessment process at 211 cents/gal FOB USG.