Louisiana Oils Strengthen as Valero Boosts Norco Refinery Rates

Louisiana crudes gained against futures as Valero Energy Corp. returned the St. Charles refinery in Norco, Louisiana, to scheduled output after a shutdown caused by Hurricane Isaac last month.

“The St. Charles refinery is operating at planned rates,” Bill Day, a San Antonio-based spokesman for the company, said in an e-mail.

Heavy Louisiana Sweet’s premium to West Texas Intermediate widened 25 cents a barrel to $18.50 at 2:04 p.m. in New York, according to data compiled by Bloomberg.

Light Louisiana Sweet’s premium to the U.S. benchmark added 20 cents to $18.20 a barrel.

Poseidon’s premium narrowed 45 cents to $12.75. Mars Blend’s decreased 50 cents to $12.75 a barrel over WTI and Southern Green Canyon’s was unchanged at $11.50.

Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, was unchanged at $16.75 above WTI.

In Canada, Syncrude’s premium to WTI was steady at $14.25 a barrel.

Western Canada Select’s discount narrowed 75 cents to $8.75 a barrel below the U.S. benchmark. Bakken’s premium lost $1.50 to $4.25 a barrel.