UPDATE 9-Oil ends up, off 3-week low as Canada floods threaten US imports

Mon Jun 24, 2013 4:51pm EDT
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* US crudes discount to Brent hits 19-month low below $6/bbl

* Brent dips below $100 before recovering

* China credit crunch bolsters oil demand concern

* Fighting in Lebanon sparks fears of Syrian spillover

By David Sheppard and Jeanine Prezioso

NEW YORK, June 24 (Reuters) - Brent and U.S. crude prices rose on Monday, rebounding off a three-week low as record flooding in Canada's main oil-producing province threatened exports to the United States.

Major Canadian pipelines that move almost 1 million barrels per day (bpd) of Alberta oil sands crude remained shut on Monday after a spill on a smaller line was discovered over the weekend, a spokesman for operator Enbridge Inc said.

The threat to Canadian exports overshadowed fears that a credit crunch in China could hit demand in the world's No. 2 oil consumer, which sent Brent beneath $100 a barrel in early trade, extending a near-5-percent slide last week.

The U.S. West Texas Intermediate (WTI) benchmark had the bigger bounce - more than $3 a barrel off a trough of $92.67, the lowest since June 4. WTI's discount to Brent narrowed to its smallest since November 2011, touching $5.91 a barrel.   Continued...