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Canada crude-Prices steady as volatility remains low

Wed, 12th Mar 2014 22:10

* April WCS trades at $22.10/bbl below WTI

* April synthetic trades at $2.30/bbl below WTI

CALGARY, Alberta, March 12 (Reuters) - Canadian cash crudeprices were steady on Wednesday, with traders reporting thinvolumes and low volatility in the market.

Western Canada Select heavy blend for April delivery lasttraded at $22.10 per barrel below the West Texas Intermediatebenchmark, according to Shorcan Energy brokers.

That compares with a settlement price on Tuesday of $22.50per barrel below WTI.

Light synthetic crude from the oil sands for April deliverychanged hands at $2.30 per barrel below the benchmark, unchangedfrom Tuesday's settlement price.

Traders in Canada's oil capital Calgary expressed somesurprise at the limited price action in the market so far thismonth, but said there had been little fundamental news to drivetrading.

"Other than the leak at Griffith and reapportionment of 6B,there were no surprises this month," one crude trader said.

Enbridge Inc temporarily shut crude pipelines inand out of its Griffith, Indiana, terminal following a leak atthe end of February, and also announced additional rationing ofspace on Line 6B, which carries 231,000 barrels per day of crudebetween Griffith and Sarnia, Ontario.

Canadian heavy crude prices weakened temporarily as aresult, but overall the market has been supported since thebeginning of 2014 by BP Plc ramping up heavy crude intakeat its 405,000 bpd Whiting, Indiana, refinery. (Reporting by Nia Williams; editing by Matthew Lewis)

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