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CANADA-CRUDE-Heavy oil discount widens
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CANADA-CRUDE-Heavy oil discount widens
Sep 11, 2024 4:59 AM

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

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

Intermediate (WTI) edged wider on Monday:

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

$13.90 a barrel below WTI, according to brokerage CalRock,

having settled at $13.70 a barrel under the benchmark on Friday.

* Moves in the WCS market have been muted so far this month,

while volatile trading and recent heavy losses in the global

Brent and WTI markets have weighed on the outright price of

Canadian crude.

* "The Canadian market is just chugging along while the rest

of the market implodes," said Rory Johnston, founder of the

Commodity Context newsletter.

* Global oil prices rose about 1%, following steep losses

last week, on concerns that a hurricane forecast to hit

Louisiana on Wednesday will disrupt production and refining

along the U.S. Gulf Coast.

* The outright price of WCS was just under $55 a barrel.

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