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CANADA-CRUDE-Heavy oil discount flat, ending three straight sessions of narrowing
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CANADA-CRUDE-Heavy oil discount flat, ending three straight sessions of narrowing
Jul 9, 2024 4:02 PM

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

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

Intermediate (WTI) was steady on the day on Tuesday, ending

three consecutive days of narrowing:

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

$13.60 a barrel below WTI, according to brokerage CalRock,

having also closed at $13.60 a barrel below WTI on Monday.

* Major refineries along the U.S. Gulf Coast appeared to

sustain minimal impact after Hurricane Beryl weakened into a

tropical storm, with some of those refineries consuming WCS.

* In Canada, a fire restriction is in effect for both the

High Level and entire Fort McMurray Forest Area, Alberta's

wildfire agency said on Tuesday.

* Last week, Suncor, Canada's second-largest oil

company, temporarily curtailed some production and evacuated

non-essential workers from its 215,000 barrel-per-day (bpd)

Firebag site because of a fire roughly eight kilometres (5

miles) away.

* In Ontario, Suncor shut down a unit at its 85,000

barrels-per-day Sarnia refinery for maintenance on Tuesday.

* Global oil prices eased more than 1% on Tuesday after

traders learned that prolonged supply disruptions from Hurricane

Beryl were unlikely after a U.S. oil-producing hub in Texas

suffered less storm damage than feared.

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