US Cash Products-Gulf Coast gasoline, diesel slide on start of new trading cycle

NEW YORK, Nov 24 (Reuters) - Cash differentials for gasoline and diesel fell in the U.S. Gulf Coast on Monday after sellers of the products attracted little buyer demand on the first day of trading for deliveries on Colonial Pipeline's 68th annual pumping cycle to New York Harbor, traders said.

U.S. Gulf Coast M4 conventional gasoline RU-DIFF-USG fell 9 cents to 3 cents below the January gasoline futures contract RBc2 on the New York Mercantile Exchange, and A4 CBOB gasoline CBOB-DIFF-USG fell 1.25 cents to 13.25 cents below the January contract, traders said.

Gulf Coast 62-grade ultra-low sulfur diesel ULSD-DIFF-USG fell 3.25 cents to 9.25 cents below the January ULSD futures contract HOc2.

Gasoline and diesel also fell heavily in the Chicago spot market, where Monday marked the last day of trading for deliveries in the regional pipeline complex's third and final delivery cycle for November.

Chicago CBOB gasoline CBOB-DIFF-MC fell 6 cents to 30 cents below benchmark December gasoline futures RBc1, while ULSD ULSD-DIFF-MC fell 5 cents to 32 cents below benchmark diesel futures HOc1, traders said.

Elsewhere in the Midwest, Group 3 V-grade gasoline RUV-DIFF-G3 fell half a cent to 29 cents below the benchmark, and Group 3 diesel ULSD-DIFF-G3 fell 1.75 cents to 9.75 cents lower than the benchmark.

Benchmark gasoline futures rose 1.32 cents to settle at $1.8966 a gallon, whereas benchmark ULSD futures fell 5.03 cents to close at $2.4061.

Renewable fuel (D6) credits RIN-D6-US for 2025 traded between $1.015 and $1.025, compared to between $1.00 and $1.005 each on Friday, traders said. Biomass-based (D4) credits RIN-D4-US traded at $1.02 and $1.025 each, up from $1.005 each earlier, they said.