Bloomberg News

Bakken Discount Narrows as BP Starts Indiana Refinery Crude Unit

November 15, 2011

Nov. 15 (Bloomberg) -- North Dakota Bakken oil strengthened after BP Plc began starting the largest crude unit at the Whiting refinery in Indiana.

BP is attempting to start the unit following about two weeks of maintenance, according to a person with direct knowledge of the situation. The unit, known as Pipestill No. 12, was shut at the end of October, a person familiar with the work said last month.

Bakken’s discount to West Texas Intermediate narrowed 20 cents to $1.90 a barrel at 1:53 p.m. in New York, according to data compiled by Bloomberg.

Heavy Louisiana Sweet’s premium narrowed $1.35 to $15.85 a barrel. Light Louisiana Sweet decreased $1.50 to $14 above WTI.

The premium for Mars Blend dropped $2 to $10 a barrel, and Poseidon sank $2 to $10.25 over WTI.

Southern Green Canyon’s premium lost $2.20 to $9.25 a barrel and West Texas Sour’s discount was unchanged at 80 cents. Thunder Horse’s premium narrowed $1.50 to $12 above WTI.

The discount for Western Canada Select narrowed 55 cents to $11.40 a barrel.

Syncrude’s premium fell 50 cents to $4.75 a barrel, the smallest since February. Syncrude is a light, low-sulfur synthetic oil derived from the tar sands in Alberta.

--Editors: David Marino, Charlotte Porter

-0- Nov/15/2011 19:43 GMT

To contact the reporter on this story: Aaron Clark in New York at

To contact the editor responsible for this story: Dan Stets at -0- Nov/15/2011 19:13 GMT

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