Canadian heavy crude’s discount to West Texas Intermediate (WTI) widened on Thursday.
Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, last traded at $14.60 per barrel below the WTI benchmark, according to NE2 Canada Inc, widening from Wednesday’s settle of $14.10 a barrel.
Heavy crude differentials have remained wider than $14 a barrel since the new monthly trade cycle started on Tuesday.
Light synthetic crude from the oil sands for July delivery broadened slightly to $1.90 per barrel below WTI, according to NE2, having settled at $1.80 a barrel below WTI on Wednesday.
Global oil prices steadied following two straight days of gains that took oil futures to highs not seen in a year, after weekly U.S. crude stocks fell sharply while fuel inventories rose more than expected.