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Heavy oil discount widens marginally
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) edged wider on Monday: * WCS for March delivery in Hardisty, Alberta, settled at $19.40 a barrel under WTI, according to brokerage CalRock, having closed at $19.25 per barrel below the U.S. benchmark on Friday. * Canadian heavy crude differentials have been under pressure all month, following the shutdown of BP’s 435,000 barrel-per-day (bpd) Whiting, Indiana, refinery and fresh delays to the Trans Mountain pipeline expansion (TMX) project. * WCS differentials should tighten significantly to ... (full story)
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- Posted: Feb 12, 2024 9:25pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 227
