Feb 21, 2012:

West Coast refined products prices jumped on Tuesday due to BP Plc's idled 225,000barrel-per-day (bpd) Cherry Point, Washington, refinery, the third-largest on the West Coast, traders said. Wholesale gasoline climbed 18 cents in the Los Angeles market to sell at a 40-cent-a-gallon premium on top of April NYMEX RBOB gasoline, traders said. In the Pacific Northwest, wholesale gasoline climbed 20cents to sell at 25 cents on top of NYMEX RBOB.  Canadian crude oil markets had yet to register an effect from BP temporarily idling the Cherry Point refinery, which routinely receives between a third and a half of its monthly crude shipments from Canadian producers. The 300,000-bpd Trans Mountain Pipeline is able to move only26.7 percent of crude volume nominated by oil companies, traders said. BP can either store or sell to other refiners any crude it cannot use while the refinery's crude distillation unit (CDU) is shut for repairs and other units are idled pending the CDU's return. Partial production at the refinery could be restored if BP decides to begin running other production units with feedstock purchased from suppliers. BP has been supplying customers with fuel on hand at the refinery and arranging for replacement supply, the company has said.  A BP spokesman confirmed that the refinery remained idle on Tuesday as the company examines the crude unit for damage and weighs options for returning it to production. A Friday fire in the vacuum section of the crude distillation unit burned for an hour. Only one minor injury was reported due to the blaze.

By Reuters