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CANADA-CRUDE-Heavy oil discount narrows as wildfires threaten oil sands
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CANADA-CRUDE-Heavy oil discount narrows as wildfires threaten oil sands
Jul 4, 2024 2:17 PM

July 4 (Reuters) - The discount on Western Canada Select

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

Intermediate (WTI) narrowed on Thursday:

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

$14.60 a barrel below WTI, according to brokerage CalRock,

having closed at $15.55 a barrel below WTI on Wednesday.

* Out-of-control wildfires in the northern Alberta oil sands

region are threatening production, with very hot weather

forecast to continue over the next week.

* Suncor Energy ( SU ) has shut down its 215,000

barrel-per-day (bpd) Firebag oil sands site in northern Alberta

as a precaution due to a nearby wildfire, an Alberta government

minister said on social media on Thursday.

* Imperial Oil ( IMO ) and Cenovus Energy ( CVE ) said

they are monitoring the situation and there is no impact on

their operations so far.

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