Bloomberg News

Canadian Oils Weaken as Midcontinent Refiners Shut for Work

September 28, 2012

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.

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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Companies Mentioned

  • PSX
    (Phillips 66)
    • $81.72 USD
    • -0.75
    • -0.92%
  • CVI
    (CVR Energy Inc)
    • $47.27 USD
    • -0.29
    • -0.61%
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