Syncrude Oil Premium Shrinks as Production Set to Rise

Bloomberg reported that Syncrude’s premium to U.S. West Texas Intermediate oil declined on concerns that supplies will surge.

As quoted in the market news:

Syncrude’s premium weakened 75 cents to $4.25 a barrel at 4:02 p.m. in New York, according to data compiled by Bloomberg. The discount for Western Canada Select widened 60 cents to $11 a barrel.

Click here to read the full Bloomberg report.