Heavy Alberta Oil Discount Sinks Near $30 on Pipe, Plant Outages
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Heavy Canadian oil traded near a $30 a barrel discount to West Texas Intermediate as lower pipeline flows and seasonal refinery maintenance limit access to the U.S. Midwest market and demand.
TransCanada Corp.’s 591,000-barrel-a-day Keystone pipeline that helps transport Western Canadian oil to U.S. plants operated at reduced rates the end of last month after a power interruption. BP Plc’s Whiting, Indiana, refinery shut a 235,000-barrel-a-day crude unit at the plant for a planned turnaround, a person familiar with the work said Nov. 5.