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CANADA-CRUDE-Heavy oil discount narrows for third straight session
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CANADA-CRUDE-Heavy oil discount narrows for third straight session
Jul 8, 2024 2:50 PM

July 8 (Reuters) - The discount on Western Canada Select

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

Intermediate (WTI) tightened slightly, for the third consecutive

session on Monday:

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

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

having closed at $13.75 a barrel below WTI on Friday.

* Hurricane Beryl seemingly had minimal impact on major

refineries along the Gulf Coast, some of which consume WCS.

* Suncor Energy ( SU ) temporarily curtailed some

production at its 215,000 barrel-per-day (bpd) Firebag oil sands

site in northern Alberta on Friday as a precaution due to a

nearby wildfire.

* Global oil prices settled down about 1% to a one-week low

on Monday as Hurricane Beryl shut U.S. refineries and ports

along the Gulf of Mexico, and on hopes a possible ceasefire deal

in Gaza could reduce worries about global crude supply

disruptions.

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