Bloomberg News

U.S. Gulf Coast Crudes Weaken After Texas Refinery Shuts Coker

December 12, 2011

Dec. 12 (Bloomberg) -- U.S. Gulf Coast oil premiums weakened after Petroleo Brasileiro SA shut a coker at its Pasadena refinery in Texas Dec. 10.

Ciro Ribeiro, a Houston-based spokesman for the refinery, said he would have an update later today and didn’t say if the plant was at reduced rates when asked in an e-mail. Yesterday he said no other units were affected.

Heavy Louisiana Sweet’s premium narrowed 10 cents to $11.80 a barrel at 2:34 p.m. in New York, according to data compiled by Bloomberg. Light Louisiana Sweet’s premium to WTI was unchanged at $11.45 a barrel.

Thunder Horse’s premium to WTI decreased 75 cents to $8.75. The premium for Mars Blend narrowed 5 cents to $7.05 a barrel. Poseidon gained 25 cents to $6.45 a barrel over WTI.

Southern Green Canyon’s premium increased 10 cents to $6 a barrel and West Texas Sour’s discount was unchanged at 80 cents.

The discount for Western Canada Select widened 60 cents a barrel to $15.35.

Syncrude’s premium added 20 cents to $2.50 a barrel. Syncrude is a light, low-sulfur synthetic oil derived from the tar sands in Alberta.

--Editors: Richard Stubbe, Charlotte Porter

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


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