Canadian oils weakened as U.S. Midcontinent refiners began shutting units for maintenance, reducing demand.
Phillips 66 (PSX:US) was closing units including a 64,000-barrel-a- day crude plant at its Wood River refinery in Illinois Sept. 25, according to Genscape Inc., an energy information provider. CVR Energy Inc. (CVI:US) started work at its Wynnewood refinery in Oklahoma, Bud Ramming, Garvin County emergency management director, said in a telephone interview Sept. 26.
The discount to West Texas Intermediate for Western Canada Select, a heavy oil blend from Alberta, narrowed $1.50 to $11.50 a barrel at 3:58 p.m. in New York, according to data compiled by Bloomberg. Syncrude’s premium to the U.S. benchmark narrowed $1 to $9 a barrel.
Bakken oil’s premium gained $2.50 to $4.75 a barrel.
On the U.S. Gulf Coast, Heavy Louisiana Sweet’s premium added 95 cents to $21.15 a barrel. Light Louisiana Sweet increased 10 cents to $20 over WTI.
Poseidon’s premium gained 55 cents to $14.55. Mars Blend added 35 cents to $14.75 a barrel over WTI and Southern Green Canyon was unchanged at $12.75.
The premium for Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, widened 90 cents to $18.25 above WTI.
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