Canadian heavy crude’s differential to benchmark West Texas Intermediate (WTI) crude widened on Thursday as the end of the monthly trade cycle neared.
Western Canada Select heavy blend crude for March delivery in Hardisty, Alberta last traded at $13.70 per barrel below the WTI benchmark, according to NE2 Canada Inc, having settled at $13.35 a barrel under the benchmark on Wednesday.
Friday is the last day of this month’s trading window, in which the bulk of Canadian crude market activity takes place.
Oil prices were steady as markets weighed the possibility of an aggressive and unforecast rate hike against a steeper rise in energy demand.