Louisiana Oils Strengthen as Valero Boosts Norco Refinery Rates

Louisiana crudes gained against futures as Valero Energy Corp. (VLO) returned the St. Charles refinery in Norco, Louisiana, to scheduled output after a shutdown caused by Hurricane Isaac last month.

“The St. Charles refinery is operating at planned rates,” Bill Day, a San Antonio-based spokesman for the company, said in an e-mail.

Heavy Louisiana Sweet’s premium to West Texas Intermediate widened 25 cents a barrel to $18.50 at 2:04 p.m. in New York, according to data compiled by Bloomberg.

Light Louisiana Sweet’s premium to the U.S. benchmark added 20 cents to $18.20 a barrel.

Poseidon’s premium narrowed 45 cents to $12.75. Mars Blend’s decreased 50 cents to $12.75 a barrel over WTI and Southern Green Canyon’s was unchanged at $11.50.

Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, was unchanged at $16.75 above WTI.

In Canada, Syncrude’s premium to WTI was steady at $14.25 a barrel.

Western Canada Select’s discount narrowed 75 cents to $8.75 a barrel below the U.S. benchmark. Bakken’s premium lost $1.50 to $4.25 a barrel.

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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