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CANADA-CRUDE-Heavy oil discount widens as monthly trading cycle nears end
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CANADA-CRUDE-Heavy oil discount widens as monthly trading cycle nears end
Jun 13, 2024 5:14 PM

June 13 (Reuters) - The discount on Western Canada

Select (WCS) heavy crude versus the North American benchmark

West Texas Intermediate (WTI) widened on Thursday as the end of

the monthly trading cycle neared.

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

$13.80 a barrel below the WTI, according to brokerage CalRock,

having settled at $13.50 a barrel under the benchmark on

Wednesday.

* The Canadian crude trading cycle typically runs for just

over two weeks from the start of each month until the day before

pipeline nominations are due.

* Global oil prices edged higher in up-and-down trade,

supported by an OPEC forecast for demand growth and data showing

an U.S. easing labor market and slowing inflation, which stoked

hopes for Federal Reserve rate cuts.

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