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Canadian Heavy Oil Prices Pressured by Sarnia Incident
May. 08, 2012 10:49AM PST
Oil and Gas InvestingReuters reported that unscheduled maintenance on a processing unit at Imperial Oil Ltd.’s (TSX:IMO) Sarnia, Ontario refinery is pressuring Canadian heavy oil prices.
Reuters reported that unscheduled maintenance on a processing unit at Imperial Oil Ltd.’s (TSX:IMO) Sarnia, Ontario refinery is pressuring Canadian heavy oil prices.
As quoted in the market news:
On Tuesday, Western Canada Select heavy crude, a frequently quoted Canadian heavy oil benchmark, sold for $16.30 a barrel under West Texas Intermediate for June delivery, a $1.05 deeper discount than on Monday. Traders cited the uncertainty of the Sarnia outage for the drop.