Sunday, June 3, 2012

Why Bakken-WTI Spread Is Widening


June 4, 2012: TransCanada will restrict some Keystone oil flow and MRO will shut down Illinois refinery for maintenance; WTI-Bakken widens.

Original Post
I'm not sure how I missed this story, and I was surprised that no one else seems to  have seen it, but it helps explain the wide WTI-Bakken price spread. The link takes you to Bloomberg News.
Bakken oil weakened to the widest discount in more than six weeks versus U.S. benchmark West Texas Intermediate prior to a planned shutdown at Tesoro Corp.’s refinery in Mandan, North Dakota.

The 58,000-barrel-a-day refinery will halt the crude unit in early June for about two weeks of work, two people with knowledge of the situation said in December. A shutdown to tie in equipment that will boost the plant’s capacity by 10,000 barrels a day is scheduled for late in the second quarter, Chief Operating Officer Daniel Romasko said during a Feb. 2 conference call.

1 comment:

  1. Bruce, now the first thing I check on my daily visits to your informative Bakken blog site is the UND-EERC Archives. under your News & Conferences side-bar link. Thanx for adding the link. There is a ton of info there. For example:

    1. Published June 01, 2012, 12:00 AM ENERGY: Moving oil to market N.D. needs more pipelines to keep pace with oil production By: Alan Van Ormer, Prairie Business Magazine

    2. Boom will keep on rolling (Bismarck Tribune) 05/24/12 -

    3. Powering Oil Rigs -Updated May 25, 2012

    June 4, 2012 11:23 am EDT