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CANADA-CRUDE-Heavy oil discount tightens as new trade cycle begins
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CANADA-CRUDE-Heavy oil discount tightens as new trade cycle begins
Oct 2, 2024 10:41 PM

Oct 1 (Reuters) - The discount on Western Canada Select

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

Intermediate (WTI) narrowed on Tuesday, the first day of the new

monthly trade cycle:

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

$12.70 a barrel below WTI, according to brokerage CalRock,

having settled at $13.05 a barrel under the benchmark in the

previous trading session.

* Canadian heavy crude prices have held broadly steady in

recent weeks, in contrast with volatile benchmark global oil

prices.

* Global oil prices climbed about 3% after Iran fired a

salvo of ballistic missiles at Israel in retaliation for

Israel's campaign against Tehran's Hezbollah allies in

Lebanon.

(Reporting by Nia Williams in British Columbia; Editing by

Subhranshu Sahu)

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