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Crude Differentials - Canadian/Bakken Benchmarks Plunging

posted Feb 6, 2012, 10:25 PM by Jeff Davies
Just a good ol' fashion ass kicking going on last few days for Syncrude, West Canada Select and Bakken crude.  Takeaway capacity seems to be the culprit.

Here are the nasty numbers as of 2/6 (spot prices):

WTI                                   $96.91
Syncrude Sweet            $73.91,  -$23.00
West Canada Select    $61.41,  -$35.50
Bakken UHC                  $72.91,  -$24.00
Heavy LA Sweet           $117.91,  +$21.00
Brent                                $116.41,  +$19.50

Bakken spread the widest since Oct '10, Syncrude spread widest since at least '06, WCS spread widest since '08 per Bloomberg.  

Mid-con refinery trade is working again as Brent/WTI has blown back out toward $20.  Certainly need to watch Bakken and W Canadian crude pricing as it relates to oil sands producers and/or the Williston names.