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Canadian Crude Prices Collapse as Alberta Glut Grows Again

  • Third section of Syncrude upgrader is ready to start operation
  • Synthetic crude’s discount to WTI reaches widest since 2013
The Syncrude Canada Ltd. oil sands upgrading plant

The Syncrude Canada Ltd. oil sands upgrading plant

Photographer: Ben Nelms/Bloomberg

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Canadian crude prices are plunging once again as repairs were completed on Alberta’s second-biggest oil sands upgrader and production surged from a new mine.

Synthetic crude, a light grade produced in upgraders, fell Thursday to the biggest discount to West Texas Intermediate futures since December 2013, data compiled by Bloomberg show.