Alberta oils for November delivery weakened prior to refinery maintenance scheduled for the fourth quarter in the U.S. midcontinent that may cut demand.
BP Plc (BP/)’s Whiting, Indiana, plant, the Midwest’s largest, will shut a crude unit known as Pipestill 12 starting Nov. 1 for work scheduled to last 100 days, a person familiar with the maintenance said April 19. HollyFrontier Corp. (HFC) will idle the 90,000-barrel-a-day West plant in Tulsa, Oklahoma, starting in November for work scheduled to last about five weeks, a person with knowledge of the repairs said June 28.
The premium for Syncrude for November delivery weakened $5.75 a barrel to $8 above West Texas Intermediate at 11:50 a.m. in New York, according to data compiled by Bloomberg. The grade’s price yesterday reflected trading for October-delivery crude oil.
The discount for Western Canada Select widened $5.50 to $13.25 a barrel below the U.S. benchmark.
Bakken’s premium to WTI was steady at $5 a barrel.
Heavy Louisiana Sweet’s premium added 75 cents to $18.25 a barrel. Light Louisiana Sweet’s increased 25 cents to $19.75.
Poseidon’s premium widened $1.25 to $9.75. Mars Blend added $1 to $10.50 a barrel over WTI and Southern Green Canyon increased $1 to a premium of $9.50.
The premium for Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, widened was unchanged at $18 above WTI.
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