The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 505.00
Bid: 492.50
Ask: 510.00
Change: 0.00 (0.00%)
Spread: 17.50 (3.553%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 505.00
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Canada crude - Heavy grades edge away from 10-month low

Wed, 06th Nov 2013 23:15

* Dec WCS trades at $41.00/bbl below WTI

* Dec synthetic trades at $15.00/bbl below WTI

CALGARY, Alberta, Nov 6 (Reuters) - Canadian heavy crudeprices steadied on Wednesday after a recent fall to 10-monthlows, but looked likely to remain under pressure from limitedpipeline capacity and unplanned refinery outages.

Western Canada Select heavy blend for December delivery lasttraded at $41.00 per barrel below the West Texas Intermediatebenchmark, according to Shorcan Energy brokers.

That was slightly higher than Tuesday's settlement of $41.50per barrel below the benchmark, which was the widestdifferential since January.

Pipeline company Enbridge Inc rationed space onadditional pipelines in November, meaning producers are unableto ship as much crude as they would like to market and oil isgetting stranded in Alberta, driving prices lower.

Meanwhile, fires at Citgo Petroleum Corp's 174,500 barrelper day Lemont, Illinois, refinery and the 130,000 bpd Co-oprefinery in Regina, Saskatchewan, have reduced demand for crude.

Delays in starting up a new coker that would process moreheavy crude at BP PLC's 405,000 bpd Whiting, Indiana,refinery and increasing production at Imperial Oil's 110,000 bpd Kearl oil sands project also mean supply isoutweighing demand.

Suncor Energy Inc, Canada's largest energy company,said on Wednesday its average oil sands production rose 2.7percent month-on-month to 375,000 bpd.

David Bouckhout, senior commodities analyst at TD Securitiesin Calgary, said he expected the differential between WCS andWTI to narrow only modestly into the end of 2013.

"In our view, a more material narrowing will not come untilthere is evidence of heavy oil being processed at BP Whiting'snew coker, and we see the return of refining utilization fromboth planned and unplanned events," he wrote in a note.

However, the eventual removal of pressure restrictions onthe Enbridge Mainline network next year will add an extra200,000 bpd of capacity and help strengthen heavy crude prices.

Bouckhout said TD Securities expected to see WCS tradingbetween $30 and $35 per barrel below WTI in the early days of2014, narrowing further to the mid-$20s below WTI by mid-2014.

By 2015 he said the differential should return to more'normal' levels around $20 per barrel below the benchmark.

Light synthetic crude from the oil sands for Decemberdelivery last traded at $15.00 per barrel below WTI, comparedwith a settlement price of $15.25 per barrel below the benchmarkon Tuesday.

More News
5 Apr 2024 12:00

LONDON MARKET MIDDAY: Stocks drop on Israel-Iran tensions and Fed talk

(Alliance News) - Stock prices in London were firmly down at midday on Friday, as rising tensions between Israel and Iran alongside doubts around the timing of US interest rate cuts hurt investor sentiment.

Read more
5 Apr 2024 08:47

LONDON MARKET OPEN: Europe slumps on US rate worry and rising tensions

(Alliance News) - Stocks in Europe had a downbeat start to the day on Friday, with investors unnerved by rising geopolitical tensions and hawkish remarks from US central bankers.

Read more
4 Apr 2024 16:55

LONDON MARKET CLOSE: US initial jobless claims hotter than expected

(Alliance News) - Stock prices in London closed up on Thursday, as investors first digested words from US Federal Reserve Chair Jerome Powell overnight, before reacting to hotter-than-expected US initial jobless claims.

Read more
4 Apr 2024 11:58

LONDON MARKET MIDDAY: Stocks up as Fed chair calms some rate nerves

(Alliance News) - Stock prices in London were in the green on Thursday afternoon, with mining stocks powering the FTSE 100 higher, as investors digested words from Federal Reserve Chair Jerome Powell.

Read more
2 Apr 2024 23:07

Sector movers: Builders and REITS slip, geopolitics boost Big Oil and gold miners

(Sharecast News) - Personal Goods was at the bottom of the pile on the FTSE 350 at the start of the second quarter, as fashion retailer Burberry Group's shares fell back towards their five-year lows.

Read more
2 Apr 2024 16:57

LONDON MARKET CLOSE: Europe down after Easter holiday weekend

(Alliance News) - The FTSE 100 took a hit on Tuesday, after a boost from London's miners and oil firms were not enough to lift the index.

Read more
2 Apr 2024 15:22

London close: Stocks turn red on return from Easter break

(Sharecast News) - UK stocks experienced a downturn by the end of trading on Tuesday, as investors resumed activity following the extended weekend, with initial gains reversed by the close ahead of a week marked by a number of key economic data releases.

Read more
2 Apr 2024 11:00

Biden administration approves eighth US offshore wind project

WASHINGTON, April 2 (Reuters) - The U.S. Interior Department on Tuesday approved the country's eighth commercial-scale offshore wind project, which will be built off the coast of Massachusetts, bringing online electricity to power more than 900,000 homes.

Read more
2 Apr 2024 09:09

LONDON MARKET OPEN: FTSE 100 up as oil majors and gold miners shine

(Alliance News) - Stock prices in London opened higher on Tuesday, in confident trade following the long Easter weekend, ahead of a UK manufacturing sector reading later in the morning.

Read more
2 Apr 2024 08:55

European oil stocks gain on expectations for higher demand, supply concerns

Read more
28 Mar 2024 10:00

How the oil industry is thriving despite Joe Biden's climate policies

GRAPHIC on Biden's oil boom: https://www.reuters.com/graphics/USA-BIDEN/OIL/lgpdngrgkpo/

By Nichola Groom, Jarrett Renshaw

Read more
27 Mar 2024 20:59

New England offshore wind auction draws multiple bidders

March 27 (Reuters) -

Read more
27 Mar 2024 12:47

Ithaca Energy gets bid rights on Eni's UK assets, profit slips

March 27 (Reuters) - Ithaca Energy has been given a four-week exclusivity period by Italy's Eni, to make an offer for UK exploration and production assets that could expand its output massively, the London-listed company said on Wednesday.

Read more
27 Mar 2024 09:01

Big Oil's climate planning not good enough, investor group says

Climate Action 100+ assessed 10 top oil companies

*

Read more
27 Mar 2024 08:31

Big Oil's climate planning not good enough, investor group says

Climate Action 100+ assessed 10 top oil companies

*

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.