Western Canada Select (WCS) heavy blend crude for November delivery in Hardisty, Alberta, traded at $9.60 per barrel below WTI, according to NE2 Canada Inc. It settled on Friday at $10 under.
Rising production as curtailments are reversed looks likely to increase inventories this autumn and push the heavy differential wider, a Calgary trading source said.
Light synthetic oil from the oil sands for November delivery traded at $3.50 below WTI, narrower than Friday’s settle of $3.90 under.
Global oil prices surged after doctors said U.S. President Donald Trump could soon be discharged from the hospital where he is being treated for COVID-19.
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