October 11, 2016 / 10:47 PM / 2 years ago

Grades hold steady despite coordinated pipeline protests

CALGARY, Alberta (Reuters) - Canadian cash crude differentials held firm on Tuesday, shrugging off coordinated climate change protests that temporarily disrupted five major cross-border crude pipelines to the United States.

Activists in four U.S. states broke into remote flow stations to manually turn off valves on TransCanada Corp’s Keystone line, Enbridge Inc’s Line 4 and 67, the Spectra Energy Express line and a feeder line on Kinder Morgan’s Trans Mountain system.

All the lines affected were shut down as a precaution, but the disruption was short-lived as they restarted later on Tuesday afternoon, helping minimize the impact on prices.

Wester Canada Select heavy blend crude for November delivery last traded at $13.70 per barrel below the West Texas Intermediate benchmark, having widened out slightly to $13.80 per barrel below WTI earlier in the session.

That compares with a settlement price on Friday, the last trading day before the Canadian Thanksgiving holiday, of $13.70 per barrel below the benchmark.

Light synthetic crude from the oil sands for November delivery last traded at 10 cents per barrel below WTI, having changed hands at 15 cents per barrel under the benchmark on Friday.

Editing by James Dalgleish

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below