financetom
World
financetom
/
World
/
CANADA-CRUDE-Heavy oil discount narrows for fourth straight session
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CANADA-CRUDE-Heavy oil discount narrows for fourth straight session
Aug 14, 2024 2:30 PM

Aug 14 (Reuters) - The discount on Western Canada Select

(WCS) heavy crude versus the North American benchmark West Texas

Intermediate (WTI) narrowed on Wednesday, for the fourth

straight day:

* WCS for September delivery in Hardisty, Alberta, settled

at $12.40 a barrel below WTI, according to brokerage CalRock,

having settled at $12.60 a barrel under the U.S. benchmark on

Tuesday, for the fourth trading session in a row

* Canadian heavy crude differentials have gained support

this month from some U.S. Midwest refineries restarted

operations after unplanned shut-downs in July.

* Exxon Mobil ( XOM ) restarted select units at its 251,800

barrel-per-day refinery in Joliet, Illinois, three weeks after

it lost power following a storm, the company said last week.

* However, Exxon reported a unit upset at Joliet on Saturday

and Sunday, according to Illinois Emergency Management Agency

* Global oil prices settled 1% lower on Wednesday after U.S.

crude inventories rose unexpectedly and as worries eased

slightly that a wider Middle East conflict could threaten

supplies from one of the world's major regions for crude

production.

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 >
European Equities Close Higher Wednesday; UK Announces Spring Budget
European Equities Close Higher Wednesday; UK Announces Spring Budget
Mar 6, 2024
12:04 PM EST, 03/06/2024 (MT Newswires) -- European stock markets closed higher Wednesday as the FTSE in London was up 0.43%, Germany's DAX increased 0.1%, France's CAC gained 0.28%, Stoxx Europe 600 rose 0.39% and the Swiss Market Index climbed 0.72%. UK Chancellor Jeremy Hunt announced the spring budget, which includes another cut of 0.02 British pound ($0.025) in the...
Marketmind: Selloff, what selloff? Markets back in their groove
Marketmind: Selloff, what selloff? Markets back in their groove
Mar 6, 2024
(Reuters) - A look at the day ahead in Asian markets. As you were. Asian markets are set for a positive open on Thursday following a widespread 'risk on' move on Wednesday, while investors in the region await trade figures from China and Australia, and an interest rate decision from Malaysia. Global stocks and risk assets on Wednesday shrugged off...
CANADA STOCKS-Mining shares help lift TSX to near 2-year high
CANADA STOCKS-Mining shares help lift TSX to near 2-year high
Mar 6, 2024
* TSX ends up 0.3%, at 21,593.96 * Posts highest closing level since April 2022 * BoC holds its policy rate at 5% * Materials group rises 1.3%; gold hits a record high (Updates at market close) By Fergal Smith March 6 (Reuters) - Canada's main stock index rose on Wednesday to a near two-year high, led by gains for...
Canada's Ivey PMI falls to 4-month low in February
Canada's Ivey PMI falls to 4-month low in February
Mar 6, 2024
TORONTO (Reuters) - Canadian economic activity expanded at a slower pace in February as a measure of employment declined, Ivey Purchasing Managers Index (PMI) data showed on Wednesday. The seasonally adjusted index fell to 53.9 from 56.5 in January, posting its lowest level since October The Ivey PMI measures the month to month variation in economic activity as indicated by...
Copyright 2023-2026 - www.financetom.com All Rights Reserved