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CANADA-CRUDE-Heavy oil discount narrows
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CANADA-CRUDE-Heavy oil discount narrows
Jun 7, 2024 2:23 PM

June 7 (Reuters) - The discount on Western Canada Select

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

Intermediate (WTI) tightened for a second day on Friday:

* WCS for July delivery in Hardisty, Alberta, traded at

$12.95 a barrel below WTI, according to brokerage CalRock,

having settled at $13.05 a barrel under the benchmark on

Thursday.

* Last month's start-up of the 590,000 barrel-per-day (bpd)

Trans Mountain pipeline is helping support Canadian crude prices

by opening up more access to markets on the U.S. west coast and

Asia.

* Global oil prices edged down and posted a third straight

weekly loss as investors weighed OPEC+ reassurances against the

latest U.S. jobs data that lowered expectations that the Federal

Reserve will cut interest rates soon.

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