Canada Crude-Synthetic Spread Narrows as Outage Seen Ending

Reuters reported that Canadian synthetic crude prices have inched down in anticipation that production rates at the Syncrude Canada oil sands operation will likely go back to normal by next month.

As quoted in the market news:

Light synthetic blend for December delivery was quoted at $6.25 a barrel over benchmark West Texas Intermediate, compared with as much as $13 a barrel over WTI for last month’s November deals.

Prices for heavy crude, meanwhile, have been steady. December Western Canada Select heavy blend was quoted at $11.05 a barrel under WTI, compared with $11 for November barrels in deals last week.

Click here to read the full Reuters report