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

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Heavy discount narrows slightly, trading in tight range

December 7, 20201:59 PM Reuters0 Comments

Oil pump jack
Southern Alberta oil well
Canadian heavy crude’s discount versus West Texas Intermediate (WTI) narrowed slightly on Monday, trading in a tight 15-cent-per-barrel range:

Western Canada Select (WCS) heavy blend crude for January delivery in Hardisty, Alberta, traded at $12.25 per barrel below WTI, according to NE2 Canada Inc, a tad lower than Friday’s settlement of $12.30 under.

Demand for WCS looks to remain slack during the trading cycle with refinery operating rates below normal due to the pandemic hitting fuel demand, offset somewhat by reduced Canadian production and lower global supplies of heavy, sour oil, said Iqbal Gill, head of hydrocarbon supply at BarrelTEX.

The WCS-WTI differential at Hardisty looks to remain in the minus-$12 to minus-$13.50 range into the first quarter, Gill said.

On Friday, the differential touched $12.50, the highest discount since April.

Canada’s crude exports and imports from the United States fell in October, according to Statistics Canada data.

Light synthetic oil from the oil sands for January delivery traded at $4.25 below WTI, narrower than Friday’s settle of $4.70 under.

Global oil prices slipped as the positive impact from COVID-19 vaccine news and an OPEC+ deal on oil production cuts was undermined by surging coronavirus cases and heightened tensions between the United States and China. 29dk2902l

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Heavy crude differential widens slightly
  • New York State pension fund restricts investments in Canadian oil sands companies
  • Property Divestiture: GS E&R Canada Inc.
  • Topaz Energy Corp. announces strategic Charlie Lake royalty acquisition to advance its position as the largest contiguous Charlie Lake royalty holder in the Peace River High area of Alberta
  • Tamarack Valley Energy Ltd. announces the strategic acquisition of Anegada Oil Corp., a leading Charlie Lake light-oil producer, for total net consideration of $494 million

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    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
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.