Canada crude-Heavy spreads stay wide; no word on Enbridge line

Thu Jun 7, 2012 11:23am EDT
 
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CALGARY, Alberta (Reuters) - Canadian heavy crude discounts remained deep on Thursday as Enbridge Inc ENB.TO was tight-lipped on the status of a major pipeline that carries the country's oil to U.S. refineries.

Western Canada Select heavy blend for July last sold for $25 a barrel under benchmark West Texas Intermediate, up 25 cents from Wednesday but still historically wide for the time of year when asphalt demand normally picks up. Tight pipeline capacity has been a big factor in wide differentials this month.

On Wednesday, Enbridge shut down its 609,000 barrel-a-day Line 6A, citing routine maintenance operations. It had said the pipeline, which extends to Griffith, Indiana, from Superior, Wisconsin, was expected to resume flows later in the day.

Enbridge officials in Canada and the United States were not available to comment early Thursday on whether the pipeline had restarted, and trading sources said they were also unaware of the status.

Meanwhile, light synthetic crude for July delivery was quoted at $6.50 a barrel under WTI, compared with $6.75 under on Wednesday.

(Reporting by Jeffrey Jones; editing by Jim Marshall)