Canada crude - Prices drop on additional supply

Wed May 1, 2013 5:16pm EDT

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* June WCS last seen at $19.25/bbl under WTI

* June synthetic at $0.75 above WTI

CALGARY, Alberta May 1 (Reuters) - Canadian oil prices weakened on Wednesday on expectations of abundant supply.

Western Canada Select heavy blend for June delivery last traded at $19.25 per barrel below the West Texas Intermediate benchmark, according to Shorcan Energy Brokers. That compares with a settlement price on Tuesday of $17.50 per barrel under WTI.

Light synthetic crude from the oil sands last traded at a premium of $0.75 per barrel over WTI, down from a settlement price on Tuesday of $3.00 per barrel over the benchmark.

Two upgraders are expected to complete planned maintenance work by early June. Suncor Energy Inc is scheduled to complete a turnaround of its 100,000 barrel per day Upgrader 1 unit by the first week of next month.

Canadian Natural Resources Ltd plans a 24-day shutdown of its 115,000 bpd Horizon oil sands upgrader in northern Alberta due to begin in early May.

New heavy oil supplies are also expected to arrive in June. Canadian Natural said in March that it expected new oil from its Pelican Lake and Wodenhouse fields to hit the market next month as it completes work to connect the fields.

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