financetom
World
financetom
/
World
/
CANADA-CRUDE-Discount on Western Canada Select steady
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
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.

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 >
Morning Bid: Fifteen points to ponder
Morning Bid: Fifteen points to ponder
Mar 25, 2026
March 25 - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets There were some glimmers of hope in the energy markets on Wednesday as oil prices slipped back and stocks caught a break after Iran indicated to the UN that it would allow some ships from non-combatant countries to pass through the Strait...
MORNING BID AMERICAS-Fifteen points to ponder
MORNING BID AMERICAS-Fifteen points to ponder
Mar 25, 2026
(The opinions expressed here are those of the author, a columnist for Reuters.) By Mike Dolan March 25 - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets There were some glimmers of hope in the energy markets on Wednesday as oil prices slipped back and stocks caught a break after Iran indicated to...
Euro zone bond yields fall as oil price softens on hopes of Middle East ceasefire
Euro zone bond yields fall as oil price softens on hopes of Middle East ceasefire
Mar 25, 2026
LONDON, March 25 (Reuters) - Euro zone bond yields fell on Wednesday led by Italian bonds, after being harder hit since the outbreak of the Iran war, as falling oil prices boosted risk appetite among traders. The German 10-year Bund yield was last down 5.6 basis points at 2.96%, while Italy's 10-year yield was down nearly 9 bps at 3.85%....
German business sentiment falls, Iran war hits upswing hopes
German business sentiment falls, Iran war hits upswing hopes
Mar 25, 2026
* Ifo index fell to 86.4 in March from 88.4 in February * Iran war impacts German economic recovery, says Ifo's Fuest * Decline in headline index driven by falling expectations (Updates lead, adds economist comments from paragraph 4) By Maria Martinez BERLIN, March 25 (Reuters) - German business morale fell sharply in March, as the Iran war made companies...
Copyright 2023-2026 - www.financetom.com All Rights Reserved