CALGARY, Alberta, Dec 19 (Reuters) - Canadian cash crudeprices were steady in thin trading on Thursday, holding on torecent gains despite Enbridge Inc and Kinder MorganEnergy Partners LP rationing pipeline space in January.
Traders said the National Energy Board's approval ofEnbridge's proposal to build a pipeline from Alberta's oil sandsto Canada's Pacific coast had little impact on prices given thepipeline is unlikely to be operational before 2017 at theearliest.
"I think it brings a touch of positive sentiment," said oneCalgary crude trader. "The counter however, may be thatproducers may get more enthusiastic and advance projects, makingmore oil available prior to (pipeline) capacity being availableand hence put pressure on prices."
Western Canada Select heavy blend for January delivery didnot trade on Thursday, according to Shorcan Energy brokers,having settled on Wednesday at $27.50 per barrel below the WestTexas Intermediate benchmark.
WCS for February delivery traded at $23.00 per barrel belowWTI, unchanged from Wednesday's settlement.
Heavy crude prices have rallied after hitting $41.50 perbarrel below WTI on Nov. 5 as traders positioned for strongerdemand in 2014.
Citgo Petroleum Corp will attempt to restart a unit at its174,500 barrel-per-day Lemont, Illinois, refinery in January,while BP Plc has finished the commissioning of unitsassociated with a $4 billion upgrade at its 405,000 bpd Whiting,Indiana, refinery.
Those expectations helped the market shrug off news ofapportionment on Enbridge's Mainline export network to theUnited States and eastern Canada and Kinder Morgan's TransMountain pipeline, that runs from the oil sands to the coast ofBritish Columbia.
High pipeline apportionment can fan concerns about crudegetting bottlenecked in Alberta and exacerbate price discountson Canadian crude.
Light synthetic crude from the oil sands last traded at $4per barrel below WTI, unchanged from Wednesday's settlement.