CALGARY, Alberta, July 17 Canadian crude prices
edged higher on Wednesday, although some market players said
planned testing on an Enbridge Inc pipeline in coming
weeks could see synthetic grades come under pressure.
Enbridge is planning to shut Line 14, a 318,000 barrel per
day pipeline that carries mainly light Canadian crude to Chicago
area refiners, on two separate occasions for six days from Aug.
24 and Sept. 2 to conduct hydrostatic tests.
That shutdown could see the price of synthetic grades weaken
if supply gets bottlenecked in Canada.
Light synthetic crude from the oil sands for August delivery
was last trading at $3.75 per barrel above the West Texas
Intermediate benchmark, according to Shorcan Energy brokers.
That compares with a settlement price of $2.90 above WTI on
"I think we will start to see more of an impact towards the
end of the month. The market has probably known about that
(shutdown) well in advance and people have already scheduled
cargoes around it," said Martin King, an analyst at FirstEnergy
Capital in Calgary.
Western Canada Select heavy blend for August delivery last
traded at $16.00 per barrel below WTI, compared with a
settlement price of $16.40 per barrel below the benchmark on