Synthetic crude boosted by outages, pipelines

摘要

Canadian synthetic crude climbed to a six-month high in early March as spare pipeline capacity and maintenance left the market looking similar to early 2018. Syncrude Sweet Premium (SSP) rose to $2.10/bl above Nymex calendar-month average WTI, the highest since August last year (see graph). The premium has frmed by more than $2/bl since 27 February, when pipeline operator Enbridge made a rare call for more crude in March. The frm a week before that had ac- cepted all March nominations for the two largest light crude lines of its Mainline system, the 442,000 b/d line 2 and the 390,000 b/d line 93 — a rarity.