Canada crude - Heavy grades steady as pipeline reopens

Fri Jun 14, 2013 5:22pm EDT
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CALGARY, Alberta, June 14 (Reuters) - Canadian cash crude
prices were broadly steady on Friday, holding within sight
recent highs as Kinder Morgan Energy Partners LP 
restarted its 307,000 barrel per day Trans Mountain pipeline.
    Kinder Morgan shut the line on Wednesday when light crude
oil was first spotted on the surface of the pipeline's right of
way during routine maintenance. Repairs on the line, which
carries crude from Edmonton, Alberta, to the Vancouver area and
Puget Sound, are now complete. 
    Western Canada Select heavy blend for July delivery traded
at a discount of $10.50 per barrel below the West Texas
Intermediate benchmark, according to Shorcan Energy Brokers.
    That compares with a settlement price of $10.75 per barrel
below WTI on Thursday. Earlier this week heavy oil prices
climbed to a nine-month high around $10 under the benchmark.
    Light synthetic crude from the oil sands for July delivery
last traded at a premium of $11.30 per barrel above WTI,
compared with Thursday's settlement price of $12.25 per barrel
above the benchmark.
    Synthetic prices have risen this week in anticipation of
tight supply after Syncrude Canada Ltd said a coker at its
northern Alberta oil sands project would be shut for 50