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CANADA-CRUDE-Heavy oil discount widens as refinery maintenance reported
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CANADA-CRUDE-Heavy oil discount widens as refinery maintenance reported
Jun 14, 2024 3:04 PM

June 14 (Reuters) - The discount on Western Canada

Select (WCS) heavy crude versus the North American benchmark

West Texas Intermediate (WTI) widened on Friday after reports

that a major U.S. refinery would soon go on turnaround:

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

$14.50 a barrel below the WTI, according to brokerage CalRock,

having settled at $13.80 a barrel under the benchmark on

Thursday.

* BP's 435,000-barrel-per-day (bpd) Whiting, Indiana,

refinery plans to conduct a major turnaround in the coming

months, an industry source said on Thursday. Whiting is a major

consumer of Canadian heavy crude.

* WCS has been trending wider this month, with some traders

attributing the weakness to concerns the newly expanded Trans

Mountain pipeline will not be able to load as many tankers in

the Port of Vancouver as anticipated.

* Global oil prices settled slightly lower after a survey

showed deteriorating U.S. consumer sentiment, but prices rose 4%

for the week as investors weighed forecasts for solid demand for

crude oil and fuel in 2024.

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