Canadian heavy crude’s discount to West Texas Intermediate (WTI) was steady on Tuesday.
Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, settled at $13.75 per barrel below the WTI benchmark, according to NE2 Canada Inc, the same as the previous day’s settle.
One industry source said refiners had been buying since the end of last week, helping support prices.
Light synthetic crude from the oil sands for July delivery settled at $1.95 per barrel below WTI, according to NE2.
Global oil prices rose, settling at the highest in more than two years after the top U.S. diplomat said that even if the United States were to reach a nuclear deal with Iran, hundreds of U.S. sanctions on Tehran would remain in place.