Mars crude strengthens on Keystone outage

摘要

Heavy sour Mars crude firmed in each session last week, narrowing the spread to LLS to a discount of $4.93/bl by Friday, its narrowest since late February. The crude was likely supported by last week’s outage of the 590,000 b/d Keystone crude pipeline from Hardisty, Alberta, to Cushing, Oklahoma, and Wood River, Illinois, which was restarted at reduced rates this week. The LLS/Mars spread has widened slightly in trading so far this week.