***REPORTS OF PROBLEM AT ARCO'S L.A. REFINERY REMAIN UNCONFIRMED Buying interest for refined products intensified this morning on the West Coast, amid rumors of an Arco refinery problem in L.A. Sources say the refiner has been an active buyer of physical jet fuel, CARB diesel, EPA, and gasoline in L.A. The refiner has a 50,000-60,000 b/d crude unit down for planned turnaround at the 260,000 b/d L.A. refinery that is reportedly due back up by mid to late March, and has been buying product to cover requirements during that downtime, sources said. But no new incidents could be confirmed. Arco's policy is not to comment on refinery operations. Sources say Chevron, which still has a hydrocracker and crude unit down for turnaround in L.A. was also chasing gasoline this week. As for spot prices, in the L.A. market today, there was buying interest for 25,000 bbls of 3rd cycle gasoline at $1.23. The April market is 10-11cts cheaper. A piece of jet fuel was confirmed at 96.75cts in L.A., with CARB diesel prices quoted at 96.5-98.5cts. EPA prices were pegged at 95-96cts. Mary Welge mwelge@opisnet.com

Copyright 2000, Oil Price Information Service.

-- Wine-O (123@4.com), March 09, 2000