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CANADA-CRUDE-Heavy oil discount widens further
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CANADA-CRUDE-Heavy oil discount widens further
May 10, 2024 2:41 PM

May 10 (Reuters) - The discount on Western Canada Select

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

Intermediate (WTI) widened for a second consecutive day on

Friday:

* WCS for June delivery in Hardisty, Alberta, closed at

$12.75 a barrel below WTI, according to brokerage CalRock, after

settling at $12.20 a barrel below the benchmark on Thursday.

* Canadian heavy crude differentials are widening due to

high inventories, one broker said.

* WCS strengthened this month as the 590,000 barrel per day

(bpd) Trans Mountain pipeline expansion (TMX) started commercial

operations, but the first oil tanker is not expected to load at

Westridge dock in the Port of Vancouver until the second half of

the month.

* Global oil prices fell by nearly $1 a barrel as comments

from U.S. central bank officials indicated higher-for-longer

interest rates, which could hinder demand from the world's

largest crude consumers.

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