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CANADA-CRUDE-Discount on Western Canada Select heavy crude widens
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CANADA-CRUDE-Discount on Western Canada Select heavy crude widens
May 26, 2025 4:43 AM

May 8 (Reuters) - The discount on Western Canada Select

(WCS) to the North American benchmark West Texas Intermediate

futures (WTI) widened on Thursday.

WCS for June delivery in Hardisty, Alberta, settled at $9.10

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

CalRock, after having settled at $8.75 under the U.S. benchmark

on Wednesday.

* Canadian heavy crude has been trading at a tight discount

in recent months in part due to the opening of the Trans

Mountain pipeline expansion one year ago, which boosted the

country's oil export capacity. WCS also typically sees seasonal

strength this time of year as the return of summer driving

season ramps up refinery demand.

* Canadian crude has also benefited from U.S. sanctions on

Venezuela and other countries, which is boosting demand for

non-sanctioned heavy crude producers.

* Scott Stauth, president of Canada's largest oil producer

Canadian Natural Resources ( CNQ ), told analysts on a

conference call Thursday that he expects the Western Canada

Select discount to be maintained within a range of tightness for

the next few quarters.

* Global oil prices rose around 3% on Thursday, buoyed by

hopes of a breakthrough in looming trade talks between the U.S.

and China, the world's two largest oil consumers.

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