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CANADA-CRUDE-Heavy oil discount edges wider
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CANADA-CRUDE-Heavy oil discount edges wider
Aug 9, 2024 2:25 PM

Aug 9 (Reuters) - The discount on Western Canada Select

(WCS) heavy crude versus the North American benchmark West Texas

Intermediate (WTI) widened slightly on Friday:

* WCS for September delivery in Hardisty, Alberta, settled

at $13.20 a barrel below WTI, according to brokerage CalRock,

having settled at $13.10 a barrel under the U.S. benchmark on

Thursday.

* Canadian heavy crude differentials have gained support

this month from some U.S. Midwest refineries restarted

operations after unplanned shut-downs in July.

* Global oil prices settled higher and notched over 3.5% in

weekly gains as positive economic data and signals from Fed

policymakers that they could cut interest rates as early as

September eased demand concerns, while fears of a widening

Middle East conflict continue to raise supply risks.

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