Canadian heavy crude’s differential to benchmark West Texas Intermediate (WTI) crude was steady on Friday, the last day of the monthly trade cycle.
Western Canada Select heavy blend crude for March delivery in Hardisty, Alberta last traded at $13.45 per barrel below the WTI benchmark, according to NE2 Canada Inc, unchanged from the previous day’s settle.
Friday is the final day of the monthly trading window, in which the bulk of Canadian crude market activity takes place.
Light synthetic crude from the oil sands for March delivery last traded at $1.35 per barrel over the WTI benchmark, up 40 cents from Thursday’s settle.
Oil prices ended 3% higher at fresh seven-year highs as escalating fears of an invasion of Ukraine by Russia, a top energy producer, added to concerns over tight global crude supplies.