Bakken Gains With Wisconsin Refinery Unit Restart
Bakken crude strengthened against domestic benchmark West Texas Intermediate after a Wisconsin refinery that consumes the North Dakota oil restarted a unit.
Bakken oil delivered in Clearbrook, Minnesota, rose 50 cents a barrel to a $9 discount to WTI at 2:07 p.m. in New York, according to data compiled by Bloomberg.
North Dakota’s Bakken is a key feedstock at the Calumet Specialty Products Partners LP (CLMT) refinery in Superior, Wisconsin, which shut a unit on Dec. 7, and was operating normally today, said Jennifer Straumins, president of Calumet, by e-mail today.
Crudes on the Gulf Coast were mixed against WTI. Light Louisiana Sweet fell 10 cents a barrel against WTI to a premium of $4.50. Heavy Louisiana Sweet gained 10 cents a barrel to a premium of $5.25.
The premium for Thunder Horse was unchanged at $2.25 a barrel. Mars Blend’s discount narrowed 10 cents to a discount of 65 cents a barrel.
West Texas Sour fell 50 cents to a discount of $4. WTI in Midland, Texas, widened its discount to the oil in Cushing, Oklahoma, by 30 cents to $3.60.
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