Bloomberg News

Syncrude Discount Narrows After Suncor Announces Upgrader Work

March 01, 2012

The discount for Syncrude narrowed after Suncor Energy Inc. (SU) said it will shut units at its oil- sands upgraders in the next two quarters for maintenance.

The Calgary-based company will shut a coker at its No. 1 upgrader near Fort McMurray, Alberta, next quarter, according to a filing. In the third quarter the company plans to shut a coker at its No. 2 upgrader for maintenance.

Syncrude (USCSSYNS)’s discount to West Texas Intermediate futures narrowed $1.25 to $2.75 a barrel at 2:21 p.m. in New York, according to data compiled by Bloomberg. That’s the smallest gap in two weeks.

Western Canada Select (USCSWCAS)’s discount narrowed $2 to $31.25 a barrel. Bakken (USCSUHC1) oil was unchanged at $15 a barrel below WTI.

In the U.S. Gulf Coast, Light Louisiana Sweet (USCSLLSS)’s premium to WTI added $1.10 to $18.40 a barrel. Heavy Louisiana Sweet increased 75 cents to a premium of $20.75.

Thunder Horse’s premium to WTI grew 65 cents to $17.35 a barrel and Mars Blend’s premium narrowed 5 cents to $12.95. Poseidon (USCSPOSE) gained 25 cents to $12.85 a barrel over WTI. Southern Green Canyon (USCSSGCN)’s premium widened 15 cents to $12.65.

West Texas Sour (USCSWTSM)’s discount widened 10 cents to $3.35 a barrel.

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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