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CANADA-CRUDE-Heavy oil differential holds steady
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CANADA-CRUDE-Heavy oil differential holds steady
Apr 9, 2024 3:47 PM

April 9 (Reuters) - The discount on Western Canada

Select (WCS) heavy crude versus the North American benchmark

West Texas Intermediate (WTI) held steady on Tuesday:

* WCS for May delivery in Hardisty, Alberta, settled at

$13.75 per barrel below WTI, according to brokerage CalRock,

closing at the same level as the previous day.

* Canadian heavy crude differentials have tightened in

recent weeks in anticipation of the 600,000 barrel-per-day Trans

Mountain pipeline expansion project starting to ship crude.

Trans Mountain said last week it would start operating

on May 1.

* "People are now in a wait and see position because the

move (in prices) has been made," one Calgary-based broker said.

* Global oil prices settled lower for a second day as talks

for a ceasefire in Gaza continued, but losses were limited to

less than a dollar a barrel as Egyptian and Qatari mediators met

resistance in their search to find a way out of the war.

(Reporting by Nia Williams in British Columbia)

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