Syncrude Oil Weakens After Suncor Shuts Edmonton Refinery Unit

The discount for Syncrude oil weakened after Suncor Energy Inc. shut a unit at its Edmonton refinery in Alberta following a process upset.

“The unit was safely shut down, but there was some flaring as a result,” Sneh Seetal, a company spokeswoman, said in an e-mail. She declined to say which unit had been shut.

The discount for Syncrude against West Texas Intermediate futures widened $2 to $23 at 2:03 p.m. in New York, according to data compiled by Bloomberg. Syncrude is a light, low-sulfur synthetic oil derived from the tar sands in Alberta.

Western Canada Select’s discount was unchanged at $33 a barrel.

Bakken oil’s discount widened 50 cents to $27.50 a barrel below WTI, the weakest level in records dating to Oct. 1, 2010.

In the U.S. Gulf Coast, Light Louisiana Sweet’s premium to WTI added 75 cents to $19.25 a barrel. Heavy Louisiana Sweet increased 50 cents to $22 over the U.S. benchmark.

Thunder Horse’s premium to WTI widened 95 cents to $18.50 and Mars Blend’s gained 10 cents to $15.60. Poseidon’s premium widened 30 cents to $15 a barrel. Southern Green Canyon was unchanged at a premium of $14.75 over WTI.

West Texas Sour’s discount narrowed 15 cents to $3.75 a barrel.