U.S. Gulf Coast crude premiums were mixed ahead of the startup of oil shipments scheduled for this weekend on Enterprise Products Partners LP (EPD:US) and Enbridge Inc. (ENB)’s Seaway pipeline.
The 500-mile (805-kilometer), 30-inch line is being commissioned and will initially be able to deliver 150,000 barrels a day, increasing to more than 400,000 in the first quarter of 2013, the companies said in a statement yesterday.
Light Louisiana Sweet oil’s premium to West Texas Intermediate was unchanged at $12.25 a barrel, according to data compiled by Bloomberg at 12:09 p.m. in New York.
Heavy Louisiana Sweet’s premium to WTI was unchanged at $14.25 a barrel.
Mars Blend’s narrowed 15 cents to $10.70 a barrel and Poseidon’s lost 10 cents to $9.50. Southern Green Canyon’s premium added 5 cents to $9.90.
Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, increased 15 cents against WTI to a premium of $13.80.
Western Canada Select’s discount to WTI was unchanged at $16.25 a barrel. Syncrude’s premium was steady at $1.90.
Bakken oil’s discount to the U.S. benchmark was unchanged at $2 a barrel.
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