Sept. 4 (Bloomberg) -- Bakken oil traded at the most expensive compared with West Texas Intermediate in four months as Burlington Northern Santa Fe boosted crude rail shipping capacity for the grade to 1 million barrels a day.
The increase of more than 25 percent over the past year covers shipments of crude from the Bakken-producing Williston Basin region in North Dakota and Montana, Krista York-Woolley, a spokeswoman for the railroad owned by Berkshire Hathaway Inc., said in an e-mail.
Bakken strengthened $4 to a premium of $1 above the U.S. benchmark at 3:54 p.m. in New York, according to data compiled by Bloomberg. That’s the most expensive the graded has traded at since May 3.
Canadian oils also strengthened. Syncrude’s premium added $6.25 to $8.25 above WTI. Western Canada Select’s discount to West Texas Intermediate narrowed $4.50 to $11.50 a barrel.
On the U.S. Gulf Coast grades strengthened. Light Louisiana Sweet’s premium to WTI widened $1 to $17.70. Heavy Louisiana Sweet increased 55 cents to $17.95 over WTI.
Poseidon’s premium increased 80 cents to $13.65. Mars Blend added 75 cents to $13.50 a barrel over WTI. Southern Green Canyon’s premium widened by 75 cents to $12.25.
Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, dropped 25 cents to a premium of $16.25.
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