Bloomberg News

Heavy Canadian Oil Gains as Kansas Refinery Starts After Work

November 09, 2011

Nov. 9 (Bloomberg) -- Western Canada Select crude oil strengthened after CVR Energy Inc. said it was starting up units at the Coffeyville refinery in Kansas following maintenance.

The 120,000-barrel-a-day plant, which shut several production units the beginning of October for about six weeks of planned work, will return to full rates by the end of this week, Chief Executive Officer John Lipinski said Nov. 3. Steve Eames, a spokesman for the company, said the refinery was in the process of starting today.

The discount for Western Canada Select compared with West Texas Intermediate narrowed 80 cents to $11 a barrel at 12:12 p.m. in New York, according to data compiled by Bloomberg. Syncrude’s premium to WTI was unchanged at $6 a barrel.

The premium for Mars Blend weakened for the first time in six days, dropping $1.15 a barrel to $15.45 a barrel. Poseidon slipped 75 cents to $15.85 a barrel over WTI.

Heavy Louisiana Sweet’s premium narrowed $1.10 to $19.25 a barrel while Light Louisiana Sweet dropped 80 cents to $19 above WTI.

Southern Green Canyon’s premium narrowed $1.40 to $14.85 a barrel and West Texas Sour’s discount widened 5 cents to 65 cents. Thunder Horse fell 65 cents to $18.35 over the benchmark.

--Editors: David Marino, Charlotte Porter

-0- Nov/09/2011 19:15 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/09/2011 18:58 GMT


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