Canadian Oils Gain After Tulsa Refinery Resumes Planned Rates

Canadian oils strengthened after HollyFrontier Corp. (HFC) said last week it resumed planned rates at its Tulsa East refinery in Oklahoma.

The company’s 70,300-barrel-a-day East plant that is part of the Tulsa refinery complex returned to normal output after completing repairs on a hydrotreater that was struck by a fire Aug. 2, Julia Heidenreich, a company spokeswoman, said in an e- mail Oct. 5.

The discount to WTI for Western Canada Select, a heavy oil blend from Alberta, narrowed 50 cents to $14.25 at 4 p.m. in New York, according to data compiled by Bloomberg. Syncrude’s premium to the U.S. benchmark added 15 cents to $5.90 a barrel.

Bakken oil’s premium narrowed 50 cents to $2 a barrel.

On the U.S. Gulf Coast prices were mixed. Light Louisiana Sweet’s premium narrowed 10 cents to $20.80 over WTI. Heavy Louisiana Sweet’s premium was unchanged at $20 a barrel.

Poseidon’s premium widened 50 cents to $14.25. Mars Blend decreased by 15 cents to $14.50 a barrel over WTI, and Southern Green Canyon widened 50 cents to $13.75.

The premium for Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, narrowed 10 cents to $18.40 above WTI.

To contact the reporter on this story: Aaron Clark in New York at aclark27@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net