* November synthetic trades at $11.75/bbl below WTI
* November WCS trades at $32.60/bbl below WTI
CALGARY, Alberta Oct 7 Canadian synthetic crude
prices edged higher on Monday, halting a recent run of losses,
although market players saw limited scope for a near-term
rebound given strong production from the oil sands.
Light synthetic crude from the oil sands for November
delivery last traded at $11.75 per barrel below the West Texas
Intermediate benchmark, according to Shorcan Energy brokers.
That compares with a settlement price of $12.60 per barrel
below the benchmark on Friday, the widest differential since the
first quarter of 2012, according to Reuters data.
After trading at a premium to WTI for much of the summer,
synthetic prices have fallen sharply in recent weeks on strong
production from Syncrude's northern Alberta oil sands project.
Suncor Energy Inc said on Monday it had completed
maintenance on its U2 oil sands upgrader, meaning more supply is
set to reach the market.
One Calgary trader said synthetic crude found buyers on
Monday simply because it was "really cheap" at current levels.
Western Canada Select heavy blend for November delivery last
traded at $32.60 per barrel below the West Texas Intermediate
benchmark, according to Shorcan Energy brokers.
That compares with a settlement price of $33.25 per barrel
below the benchmark on Friday.
Heavy oil has traded in a range roughly between $31.90 and
$33.50 per barrel below WTI since the October trading window
opened last week, weakened by a ramp-up in production from
Imperial Oil's Kearl mining project.
Increasing apportionment on Enbridge Inc's pipeline
export network in October has also weighed down Canadian crude
prices amid worries production will get stranded in Alberta.