• Sign up for the Daily Digest E-mail
  • Facebook
  • X
  • LinkedIn

BOE Report

Sign up
  • Home
  • StackDX Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

Heavy discount narrows on tight supplies after curtailments

June 10, 202012:22 PM Reuters0 Comments

Oil Pump JackCanadian heavy crude’s discount narrowed versus the U.S. benchmark West Texas Intermediate (WTI) on Wednesday, as recent curtailments kept supplies tight and producers were slow to restore production.

“It appears we’re in a bit of a cautious restart mode at present,” said Tudor Pickering Holt & Co analyst Matt Murphy, noting that production facilities Kearl and Syncrude are in turnaround.

Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, traded at $8.60 per barrel below WTI, according to NE2 Canada Inc, narrower than Tuesday’s settle of $9 under.

Light synthetic crude from the oil sands was trading at $2.75 under, after Tuesday’s settle of $3 under.

A crash in global oil prices in March and April led to curtailments around the world, including an estimated 1 million barrels per day in Alberta. Prices have since improved.

Global oil prices recovered their earlier losses even as U.S. data showed crude inventories rose to a record high, reviving worries of a persistent glut due to weak demand.

Syncrude

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Oil giant Saudi Aramco in talks with Commonwealth LNG for offtake agreement, sources say
  • US natgas prices fall 4% to six-week low on low cash prices, ample stockpiles
  • U.S. issues additional Iran-related sanctions, Treasury website shows
  • US crude stocks rise, gasoline and distillate inventories fall, EIA says
  • Weekly Word Wandering: A great Trump initiative, a terrible Trump initiative, and a potential excellent use for depleted oil reservoirs – bio-engineered hydrogen production

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contact
    • Report Error
    BOE Network
    © 2025 Stack Technologies Ltd.