Gulf Coast Oils Little Changed as Valero Shuts Louisiana Plant

U.S. Gulf Coast oil premiums were little changed after Valero Energy Corp. halted operations at its Meraux refinery in Louisiana following a fire in a crude unit yesterday.

All units at the plant are currently shut and an assessment is under way to determine if downstream units can be restarted while the crude unit is being repaired, Bill Day, a San Antonio-based spokesman, said in an e-mail.

Heavy Louisiana Sweet increased 5 cents to $15.45 a barrel over West Texas Intermediate at 1:58 p.m. in New York, according to data compiled by Bloomberg. Light Louisiana Sweet’s premium to the U.S. benchmark added 5 cents to $16.05.

Poseidon’s premium gained 10 cents to $9.30 a barrel. Southern Green Canyon rose 35 cents to $8.35 over WTI. Mars Blend was steady at $10 a barrel over the U.S. benchmark.

The premium for Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, decreased 55 cents to $11.95.

Syncrude’s premium was steady at $3 over WTI. Syncrude is a synthetic oil upgraded from tarlike bitumen in Alberta into refinery-ready crude.

Western Canada Select’s discount was unchanged at $14 below WTI.

Bakken oil’s discount was unchanged at $1.25 below WTI.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE