West Texas Sour crude’s discount to the U.S. benchmark grade weakened the most in eight weeks after Western Refining Inc. (WNR:US) reported a crude unit upset at its El Paso plant in Texas.
A feed interruption caused the upset yesterday in the refinery’s North crude unit, which was stabilized, the company said in a filing with the Texas Commission on Environmental Quality. The plant processes primarily West Texas Sour and West Texas Intermediate crudes, Chief Executive Officer Jeff Stevens said at a conference March 9.
West Texas Sour oil’s discount to West Texas Intermediate widened $2.25 a barrel, the most since April 25, to $4.75 at 2:06 p.m. in New York, according to data compiled by Bloomberg.
Mars Blend’s premium narrowed 45 cents to $8.80 a barrel. The grade weakened a second day after Royal Dutch Shell Plc (RDSA) said yesterday it resumed production at a U.S. Gulf Coast oil platform following planned maintenance.
Poseidon’s premium narrowed 60 cents to $7.80 a barrel.
Southern Green Canyon’s premium increased $1.25 to $8.35. Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, lost 60 cents to a premium of $11.40 a barrel over WTI.
Light Louisiana Sweet’s premium added 35 cents to $12.35 a barrel. Heavy Louisiana Sweet lost 35 cents to $11.50.
Bakken oil’s discount was unchanged at $6 a barrel below the U.S. benchmark.
Syncrude’s discount held at $1.50 below WTI. Syncrude is synthetic oil upgraded from tar-like bitumen in Alberta into refinery-ready crude.
Western Canada Select’s discount was unchanged at $21.75 a barrel.
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