Alberta Oils for November Weaken Prior to Refinery Maintenance
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.
To contact the reporter on this story: Aaron Clark in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Dan Stets at email@example.com
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.