June 5 (Reuters) - The discount on Western Canada Select
(WCS) to the North American benchmark West Texas Intermediate
futures (WTI) was unchanged on Thursday.
WCS for July delivery in Hardisty, Alberta, settled at $9.10
a barrel under the U.S. benchmark WTI, according to brokerage
CalRock, flat on Wednesday's close.
The discount had narrowed earlier in the week as 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.
But Canada's largest crude producer, Canadian Natural
Resources ( CNQ ), has since restarted operations at its
Jackfish 1 site and has said it anticipates the site will be
back up to full production of about 36,500 bpd by Friday.
Analysts said they expect Cenovus Energy's ( CVE )
Christina Lake oil sands site to also resume full operations
soon. The company shut in about 238,000 barrels of production on
May 29, due to wildfire activity in northern Alberta.
Global oil prices settled higher on Thursday, recovering
from the previous day's drop, on news that the U.S. and China
agreed to more trade talks following a phone call between U.S.
President Donald Trump and Chinese leader Xi Jinping.