Advertisement
UK markets closed
  • NIKKEI 225

    37,552.16
    +113.55 (+0.30%)
     
  • HANG SENG

    16,828.93
    +317.24 (+1.92%)
     
  • CRUDE OIL

    83.30
    +1.40 (+1.71%)
     
  • GOLD FUTURES

    2,336.70
    -9.70 (-0.41%)
     
  • DOW

    38,503.69
    +263.71 (+0.69%)
     
  • Bitcoin GBP

    53,368.91
    -47.39 (-0.09%)
     
  • CMC Crypto 200

    1,431.01
    +16.25 (+1.15%)
     
  • NASDAQ Composite

    15,696.64
    +245.33 (+1.59%)
     
  • UK FTSE All Share

    4,378.75
    +16.15 (+0.37%)
     

U.S. Cash Crude-Bakken grades jump to near 3-year high on Alberta wildfire shut-ins

May 9 (Reuters) - U.S (Other OTC: UBGXF - news) . Bakken differentials rose on Monday

to the strongest in nearly three years as traders hurried to buy

the crude on worries about supply constraints due to a raging

wildfire in Canada's Alberta province.

The move follows Syncrude Canada cutting estimated

production volumes by some 35 percent in May after a wildfire

forced the company to close its mines and upgrader operations

over the weekend, sources said.

U.S. Bakken for June settled at 40 cents a barrel over WTI

from 35 cents a barrel below WTI on Friday, according to Shorcan

Energy Brokers. That was the strongest since July 2013.

ADVERTISEMENT

Canadian crude prices climbed further on Monday as the

wildfire entered a second week, with offline capacity estimated

at around 1 million barrels per day.

Light, sweet barrels in the U.S. Gulf got a boost, with

traders expecting barrels to possibly move inland as a result of

the production curbs.

* Light Louisiana Sweet (WTC-LLS) for June delivery rose

20.5 cents to a midpoint of $2.13 and traded between $2.05 and

$2.15 a barrel premium to U.S. crude futures.

* Mars Sour (WTC-MRS (LSE: MRS.L - news) ) rose 3 cents to a midpoint of -$3.22

and traded between $3.20 and $3.25 a barrel discount to U.S.

crude futures.

* WTI Midland (WTC-WTM) rose 7 cents to a midpoint of -$0.13

and traded at a 10 cent a barrel discount to U.S. crude futures

.

* West Texas Sour (WTC-WTS) rose 17.5 cents to a midpoint of

-$1.1 and traded at a $1.20 a barrel discount to U.S. crude

futures.

* WTI to East Houston traded at $1.75 a barrel over WTI.

* ICE Brent July futures fell $1.74 to settle at

$43.63 a barrel.

* WTI June crude futures fell $1.22 cents to settle

at $43.44 a barrel.

* The Brent/WTI spread (WTCLc1-LCOc1) widened by 45 cents to

settle at 40 cents.

(Reporting by Catherine Ngai; Editing by Richard Chang)