Canada cash crude prices strengthen on possible gas line rupture

Thu Oct 17, 2013 12:42pm EDT
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CALGARY, Alberta Oct 17 (Reuters) - Canadian cash crude prices strengthened on Thursday after TransCanada Corp warned of a possible natural gas pipeline rupture on the Nova system in Northern Alberta.

Western Canada Select heavy blend for November delivery was last trading at $27.50 per barrel below the West Texas Intermediate benchmark, according to Shorcan Energy brokers.

That compares with a settlement price of $30.00 per barrel below the benchmark on Wednesday.

Light synthetic crude from the oil sands for November delivery strengthened to $9.50 per barrel below WTI, compared with Wednesday's settlement price $10.60 under the benchmark.

Traders in Calgary said news of the possible rupture was affecting oil prices because crude producing plants need gas to operate.