CALGARY, Alberta, April 1 Light synthetic crude
from the oil sands hit a nine-month high on Tuesday as traders
looked ahead to planned maintenance at the 286,000 barrel per
day Syncrude project in northern Alberta.
Synthetic crude for May delivery traded as high as $4.25 per
barrel above the West Texas Intermediate benchmark, the
strongest level since early July, before easing to last trade at
$3.95 per barrel above WTI.
On Monday synthetic crude for May delivery settled at $3.25
per barrel above the benchmark, according to Shorcan Energy
Two traders in Calgary said synthetic prices were rising in
anticipation of maintenance at the Syncrude project that is due
to start during the second quarter.
Canadian Oil Sands, which owns the largest share in
Syncrude, said earlier this year it would start maintenance on a
major bitumen upgrader known as Coker 8-2 during the second
A spokesman for Canadian Oil Sands said that maintenance was
still scheduled but declined to give further details on when
exactly it will start.
(Reporting by Nia Williams; Editing by David Gregorio)