Western Canada Select weakened before the start of planned maintenance at U.S. midcontinent refineries, which will reduce demand from plants that typically process Alberta crudes.
BP Plc (BP/)’s Whiting, Indiana, refinery, 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.
Western Canada Select for November traded at a $14 discount to West Texas Intermediate, according to Net Energy Inc., a Calgary-based trading system. Yesterday, the grade was at $11 below the U.S. benchmark, data compiled by Bloomberg showed.
November Syncrude traded at a $7 premium to WTI, Net Energy said. It was $10.75 above the U.S. benchmark yesterday, according to Bloomberg data. Bakken traded at a $3 premium to WTI, Net Energy said.
U.S. Gulf Coast oils strengthened. Heavy Louisiana Sweet’s premium to WTI increased $1.30 to $21.15 a barrel as of 11:53 a.m. New York time, according to data collected by Bloomberg. Light Louisiana Sweet added $1.10 to $19.95.
Poseidon’s premium widened $1 to $12.25. Mars Blend’s increased 15 cents to $12.65 a barrel over WTI and Southern Green Canyon was steady at $11.25.
The premium for Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, widened 50 cents to $17.50 above WTI.
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