Canadian Oils Gain on Expectation of Rising U.S. Refinery Demand
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Spot Canadian crudes strengthened versus futures amid speculation that U.S. refinery demand for Canadian imports will rise as plants finish maintenance.
Refinery utilization rates probably increased for a third week, to 87.5 percent of capacity, in the seven days ended May 10, up 0.5 percentage point, according to the median estimate from 10 analysts surveyed by Bloomberg News. The Energy Information Administration is scheduled to release its assessment tomorrow.