financetom
World
financetom
/
World
/
CANADA-CRUDE-Discount on Western Canada Select widens
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CANADA-CRUDE-Discount on Western Canada Select widens
Sep 4, 2025 2:48 PM

Sept 4 (Reuters) - The discount on Western Canada Select

to North American benchmark West Texas Intermediate futures

widened on Thursday.

WCS for October delivery in Hardisty, Alberta, settled at

$11.55 a barrel under the U.S. benchmark WTI, according to

brokerage CalRock, compared with $11.45 a barrel discount on

Wednesday.

* WCS discounts had already widened in August, in part due

to BP's

440,000-barrel-per-day refinery in Whiting, Indiana,

being affected by flooding after a severe thunderstorm. The

refinery is often the single largest purchaser of Canadian

crude.

* Another factor behind the summer's widening trend is the

threat

of competition from Venezuelan heavy crude exports to the U.S.

Gulf Coast, which resumed last month due to easing of U.S.

sanctions.

* WCS discounts narrowed slightly at the start of September

amid

the restart of BP's Whiting unit and strong buying in Asia, said

Wood Mackenzie analyst Dylan White.

* But WCS discounts will likely remain wider in the second

half of

the year than they were in the second quarter, as strong Western

Canadian production should drive high utilization along existing

pipeline routes, White said.

* Global oil prices eased about 1% to a two-week low on

Thursday

on a surprise build in U.S. crude inventories last week and

expectations that OPEC+ producers will increase output targets

at a meeting this weekend.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
INDIA STOCKS-Indian shares see worst session in 4 years on narrower lead for Modi's alliance
INDIA STOCKS-Indian shares see worst session in 4 years on narrower lead for Modi's alliance
Jun 4, 2024
(Updates at 12:41 p.m IST) By Sethuraman N R BENGALURU, June 4 (Reuters) - Indian shares plunged over 8% on Tuesday, set for their worst day in four years and erasing their gains for 2024, as vote-counting trends showed Prime Minister Narendra Modi's alliance falling short of a predicted landslide victory. The NSE Nifty 50 index was down 7.2% at...
Euro zone government bond yields drop on falling oil prices, weak data
Euro zone government bond yields drop on falling oil prices, weak data
Jun 4, 2024
June 4 (Reuters) - Euro zone government bond yields dropped on Tuesday as weak economic data and falling oil prices led investors to increase their bets on future European Central Bank rate cuts. Markets await U.S. jobs data later in the session after economic figures showed on Monday that U.S. manufacturing activity slowed for a second straight month in May,...
INDIA STOCKS-Indian shares see worst session in 4 years as lead narrows for Modi's alliance
INDIA STOCKS-Indian shares see worst session in 4 years as lead narrows for Modi's alliance
Jun 4, 2024
(Updates at 2:45 p.m. IST) By Sethuraman N R BENGALURU, June 4 (Reuters) - Indian shares posted their worst session in more than four years on Tuesday, as voting trends showed Prime Minister Narendra Modi's alliance falling short of a predicted landslide victory. While the Modi-led National Democratic Alliance will still likely form the government, analysts said the Bharatiya Janata...
Japanese Yen Outperforms in G10 FX as Risk Assets Falter and Bond Yields Fall
Japanese Yen Outperforms in G10 FX as Risk Assets Falter and Bond Yields Fall
Jun 4, 2024
05:08 AM EDT, 06/04/2024 (MT Newswires) -- The Japanese yen rose against a strengthening US dollar while outperforming other major currencies during early European trade on Tuesday as risk assets came under pressure and government bonds rallied, pushing yields lower. USD/JPY was quoted 0.51% lower around 155.29, a two-week low for the pair, making the Japanese yen the best-performing G10...
Copyright 2023-2026 - www.financetom.com All Rights Reserved