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

BOE Report

Sign up
  • Home
  • 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
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Oil Market Data
    • Canada NG Market Data
    • USA Market Data
    • Data Downloads
  • Jobs

Heavy crude narrows for third straight day

December 8, 20212:03 PM Reuters0 Comments

crude oil rail cars
Railcars holding crude oil

Canadian heavy crude’s differential to benchmark West Texas Intermediate (WTI) crude narrowed on Wednesday for the third straight day.

The narrowing differential reflects strong flows to the U.S. Midwest on the recently replaced Enbridge Inc Line 3 pipeline, strengthening prices for heavy oil in the U.S. Gulf, and declining Canadian inventories, a Calgary industry source said.

Western Canada Select heavy blend crude for January delivery in Hardisty, Alberta, was trading at $16.70 per barrel below the WTI benchmark, according to NE2 Canada Inc, having settled at $16.95 per barrel below the U.S. crude benchmark on Tuesday.

The Trans Mountain oil pipeline restarted on Sunday following a three-week shutdown due to heavy flooding in British Columbia.

Trans Mountain ships 300,000 barrels per day (bpd) of crude and refined products to Burnaby, British Columbia, from Alberta.

Oil producer Cenovus Energy said it turned on 20,000 bpd of rail capacity during Trans Mountain’s outage.

Global oil prices ended higher in a back-and-forth session, maintaining a positive tone as investors no longer expect the Omicron coronavirus variant to derail global economic growth.

Cenovus Enbridge

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Oil output in Permian to rise to record high in September
  • U.S. natural gas futures down 1% on rising output, lower demand
  • Pembina Pipeline Corporation announces closing of transaction and creation of Pembina Gas Infrastructure
  • Oil prices fall as China data disappoints
  • Column: OPEC, IEA oil demand views converging, optimistic over risks

Return to Home
Alberta Gas
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
    • 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
    © 2022 Grobes Media Inc.