US Cash Products-Chicago gasoline eases as refiner resolves operational issue

NEW YORK, May 2 (Reuters) - Chicago gasoline cash differentials fell on Friday after Exxon Mobil said operational issues at its Joliet refinery in Illinois had been resolved, easing supply constraints.

Operational issues reported by the 275,000 barrel-per-day Joliet refinery earlier this week, along with issues at other plants in the region, had caused a surge in gasoline differentials in the spot market.

Chicago CBOB gasoline CBOB-DIFF-MC fell 1.5 cents to 11 cents below the RBOB gasoline futures benchmark RBc1 on the New York Mercantile Exchange, traders said.​

Chicago ultra-low sulfur diesel ULSD-DIFF-MC gained 2 cents to 5 cents below the ULSD futures benchmark HOc1.

Elsewhere in the Midwest, Group 3 V-grade gasoline RUV-DIFF-G3 was unchanged at 7 cents lower than the benchmark. ULSD ULSD-DIFF-G3 gained a cent to 6.25 cents above futures.

U.S. Gulf Coast M2 conventional gasoline RU-DIFF-USG gained a cent to 8 cents below futures, market participants said. A2 CBOB gasoline CBOB-DIFF-USG also gained a cent to 12.5 cents above futures.

Gulf Coast 62-grade ULSD ULSD-DIFF-USG gained 0.10 cents to 5.25 cents below futures.

Oil futures posted their steepest weekly losses since the end of March as traders turned cautious ahead of a meeting of the OPEC+ group to decide its output policy for June, which was moved up from Monday, May 5, to Saturday, May 3. O/R

Gasoline futures fell 2.93 cents to settle at $2.0199 a gallon, and ULSD futures fell 1.88 cents to $1.9932.

Renewable fuel (D6) credits RIN-D6-US for 2025 traded at 110.5 cents each, compared to between 108 and 110 cents each in the previous session, traders said.

Biomass-based (D4) credits RIN-D4-US traded at 118.5 cents and 119.5 cents each, compared with between 118 and 120 cents each previously, traders said.