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CANADA-CRUDE-Discount on Western Canada Select steady
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CANADA-CRUDE-Discount on Western Canada Select steady
Jun 10, 2025 4:03 PM

June 10 (Reuters) - The discount on Western Canada

Select (WCS) to the North American benchmark West Texas

Intermediate (WTI) futures held steady on Tuesday.

WCS for July delivery in Hardisty, Alberta, settled at $8.80

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

CalRock, flat to Monday's trade.

* WCS discounts have been tight in recent days, partly due

to the

wildfire situation in Western Canada.

* Last week, wildfires burning in Canada's oil-producing

province

of Alberta prompted several oil sands operations to evacuate

workers as a precaution. About 344,000 barrels per day of

production, or about 7% of Canada's average daily crude

production, was disrupted as a result.

* Cenovus Energy ( CVE ) is in the process of ramping up

production at its Christina Lake oil sands site in Alberta after

shutting output due to wildfire risk in early June, its CEO

confirmed on Tuesday. Canada's largest crude producer, Canadian

Natural Resources ( CNQ ), restarted operations at its Jackfish

1 site.

* Canadian crude oil shipping market has been a bit quiet as

cargo

activity for August has been less active with wildfires and

closed arbitrage, according to an Oil Brokerage note.

* Global oil prices hit multi-week highs on Monday, buoyed

by a

weaker U.S. dollar, while investors awaited news from U.S.-China

trade talks in London in hopes that a deal could boost global

economic outlook and subsequently fuel demand.

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