Advertisement
UK markets close in 5 hours 32 minutes
  • FTSE 100

    8,083.93
    +39.12 (+0.49%)
     
  • FTSE 250

    19,799.15
    -0.57 (-0.00%)
     
  • AIM

    754.69
    -0.18 (-0.02%)
     
  • GBP/EUR

    1.1626
    -0.0002 (-0.02%)
     
  • GBP/USD

    1.2429
    -0.0023 (-0.19%)
     
  • Bitcoin GBP

    53,397.63
    +215.87 (+0.41%)
     
  • CMC Crypto 200

    1,431.65
    +7.55 (+0.53%)
     
  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     
  • DOW

    38,503.69
    +263.71 (+0.69%)
     
  • CRUDE OIL

    82.99
    -0.37 (-0.44%)
     
  • GOLD FUTURES

    2,328.60
    -13.50 (-0.58%)
     
  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     
  • HANG SENG

    17,201.27
    +372.34 (+2.21%)
     
  • DAX

    18,190.89
    +53.24 (+0.29%)
     
  • CAC 40

    8,124.37
    +18.59 (+0.23%)
     

CANADA CRUDE-Synthetic hits 11-month high as supply trimmed

By Nia Williams

CALGARY, Alberta, April 2 (Reuters) - Canadian synthetic crude prices rose to an 11-month high on Thursday, pushed higher by maintenance on oil sands upgraders in northern Alberta that has cut into supply.

Light (Other OTC: LGSXY - news) synthetic crude from the oil sands for May delivery last traded at $3.30 per barrel above the benchmark, according to Shorcan Energy brokers.

That compares with a settlement on Wednesday of $2.75 per barrel above WTI.

Royal Dutch Shell (Xetra: R6C1.DE - news) , the Syncrude Canada project and Suncor Energy Inc (Toronto: SU.TO - news) all have maintenance taking place on upgraders in the second quarter.

ADVERTISEMENT

Upgraders convert mined bitumen from the oil sands into refinery-ready synthetic crude.

Market players were also looking ahead to the start-up of Enbridge Inc (Toronto: ENB.TO - news) 's 300,000 barrel per day Flanagan South pipeline, expected in the second quarter.

The newly reversed Line 9 will carry 300,000 barrels per day of mainly sweet and synthetic crude from Sarnia, Ontario, to Montréal, further lifting demand for synthetic crude.

Western Canada Select heavy blend crude for May delivery was little changed from the previous day at $12.30 per barrel below the benchmark, with the differential narrowing 10 cents. (Editing by Steve Orlofsky)