* June WCS last seen at $24.25/bbl under WTI
* June synthetic at $0.80/bbl discount to WTI
CALGARY, Alberta May 6 Canadian oil prices fell
on Monday as a result of planned and unplanned refinery
maintenance and the prospect of abundant supply.
Western Canada Select heavy blend for June delivery last
traded at $24.25 per barrel below the West Texas Intermediate
benchmark, according to Shorcan Energy Brokers.
That compares with a settlement price on Friday of $21.65
per barrel under WTI.
Light synthetic crude from the oil sands last traded at a
discount of $0.80 per barrel under WTI, down from a settlement
price on Friday of $3.00 per barrel over the benchmark.
Suncor Energy Inc's 140,000 barrel per day refinery
in Edmonton, Alberta, was in full shutdown.
The company had expected to continue producing gasoline
during a planned maintenance turnaround but the discovery of
corrosion in a line leading to a flare forced the closure of the
gasoline unit for repairs.
A trader also cited planned maintenance at Flint Hill
Resources' 320,000 bpd Pine Bend refinery in Minnesota and a
major turnaround at Exxon Mobil Corp's 238,600 bpd plant
in Joliet, Illinois, as factors weighing on demand.
Meanwhile, the market was bracing for the arrival of new
heavy oil supplies in coming weeks.
Canadian Natural Resources Ltd said it expected new
oil from its Pelican Lake and Wodenhouse fields to hit the
market in June, while Imperial Oil Ltd started
production at its Kearl oil sands project in eastern Alberta in
Those Kearl supplies could take as long as three months to
reach Canadian markets however, analysts have said, as Imperial
must first fill storage tanks and a pipeline to the facility.