Heavy Canadian Crude Weakens After Enbridge Shuts Oil Pipe 6A
Western Canada Select oil’s discount widened versus U.S. benchmark West Texas Intermediate after Enbridge Inc. (ENB) shut its 608,800-barrel-a-day 6A crude pipeline early today.
There are no operational problems and the line was expected to return to service later today, Graham White, a Calgary-based company spokesman, said in an e-mail. The company doesn’t expect any impact on deliveries, he said.
“Lines are shut down and reactivated throughout the month for various reasons,” Graham said.
Western Canada Select’s discount widened $1 to $25 a barrel at 2:06 p.m. in New York, according to data compiled by Bloomberg. Syncrude’s discount to WTI narrowed 25 cents a barrel to $6.75. Bakken oil’s discount was steady at $11.65.
U.S. Gulf Coast crude grades strengthened. Light Louisiana Sweet’s premium to WTI gained 95 cents to $13.55 a barrel. Heavy Louisiana Sweet’s premium increased $1.30 to $16.45 a barrel.
Mars Blend’s premium gained 85 cents to $11.70. Southern Green Canyon’s premium widened $1.10 to $12. Poseidon’s premium increased $1 to $12.25.
The premium for Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, widened $1.30 to $13.55 a barrel.
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