Bloomberg News

U.S. Gulf Oil Premiums Mixed Ahead of Seaway Pipeline Shipments

May 18, 2012

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.

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

To contact the editor responsible for this story: Dan Stets at

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Companies Mentioned

  • EPD
    (Enterprise Products Partners LP)
    • $34.91 USD
    • -0.34
    • -0.99%
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