Bloomberg News

Syncrude Weakens to Lowest Since Feburary as Upgrader Work Done

November 04, 2011

Nov. 4 (Bloomberg) -- Syncrude’s premium over benchmark West Texas Intermediate sank to an eight-month low after Canadian Oil Sands Ltd. said maintenance on a coker at the Syncrude Canada Ltd. oil-sands upgrader was finished.

The repairs, which began Sept. 8, were completed at the end of October, Siren Fisekci, a Calgary-based spokeswoman for Canadian Oil Sands, said in an e-mail today.

Syncrude’s premium to WTI weakened 10 cents to $5.40 a barrel at 4:16 p.m. in New York, according to data compiled by Bloomberg. That’s the smallest since Feb. 10.

The discount for Western Canada Select widened 20 cents to $12 a barrel.

In the U.S. Gulf Coast, Heavy Louisiana Sweet’s premium strengthened 45 cents to $18.15 a barrel while Light Louisiana Sweet increased 95 cents to $18.50 above WTI.

The premium for Mars Blend added 95 cents to $14.70 a barrel. Poseidon gained $2.25 to $14.85 a barrel over WTI.

Southern Green Canyon’s premium increased $1.25 to $14 a barrel and West Texas Sour’s discount narrowed 5 cents to 60 cents below WTI. Thunder Horse added $1.25 to $16.25 over the benchmark.

--Editors: David Marino, Charlotte Porter

-0- Nov/03/2011 18:23 GMT

-0- Nov/03/2011 18:24 GMT

To contact the reporter on this story: Aaron Clark in New York at aclark27@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net -0- Nov/03/2011 17:58 GMT


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