The premium for Bakken crude weakened after Enbridge Inc. shut a pipeline in North Dakota, following a leak.

Enbridge shut the 25,000-barrel-a-day Line 26, which transports oil from Berthold, North Dakota, to Steelman, Saskatchewan, Lorraine Little, a company spokeswoman, said in an e-mail. While it isn’t known when the line will return to service, the incident isn’t expected to affect deliveries scheduled throughout the system, she said.

About 20 barrels of oil leaked yesterday after a relief valve broke off a pump because of vibration, according to a filing with the National Response Center. A “small amount” of the release reached a marsh area, the filing showed.

The premium for Bakken crude narrowed 50 cents to $6 a barrel above West Texas Intermediate at 11:55 a.m. in New York, according to data compiled by Bloomberg.

The premium for Syncrude weakened 25 cents to $8.75 a barrel. Syncrude is a light, low-sulfur synthetic oil derived from the tar-sands in Alberta.

The discount for Western Canada Select widened 35 cents to $10.60 a barrel.

Heavy Louisiana Sweet’s premium was unchanged at $28 above WTI. Light Louisiana Sweet’s premium lost 75 cents to $27 a barrel.

Among sour, or high-sulfur, grades, the premium for Mars Blend lost 25 cents to $23.75 a barrel while Poseidon weakened 55 cents to $23.25 a barrel over WTI.

Southern Green Canyon’s premium narrowed 25 cents to $22.75 a barrel and West Texas Sour’s discount was unchanged at 95 cents a barrel below WTI. Thunder Horse’s premium slipped $1.05 to $26.75 above the benchmark.

Source: Bloomberg

DiscoverWeyburn.com is Weyburn's only source for community news and information such as weather and classifieds.