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

BOE Report

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

Western Canada Select discount extends narrowing streak

January 13, 20233:55 PM Reuters0 Comments

Rail cars transporting crude in winter.

Western Canada Select (WCS) crude’s discount to the benchmark West Texas Intermediate (WTI) tightened further on Friday.

WCS for February delivery in Hardisty, Alberta, traded between $24.00 and $22.95 a barrel below WTI, according to brokerage CalRock. On Thursday it traded between $24.90 and $24.80 a barrel under U.S. crude.

Trading volumes were thin as the Canadian market neared the end of its monthly trade cycle, which lasts from the first of each month until the day before pipeline nominations are due.

WCS has strengthened since TC Energy restarted its Keystone pipeline in late December after a leak of 14,000 barrels in Kansas. The heavy grade is also benefiting from increased U.S. refinery demand and Gulf Coast exports.

Analysts at consultancy Tudor Pickering Holt said in a note investors expect the TransMountain pipeline expansion, due to be completed later this year, to help narrow WCS differentials. The expansion project will boost the capacity of the pipeline shipping oil sands crude to Canada’s Pacific coast to 890,000 barrels per day from 300,000 bpd currently.

Global oil prices settled more than a dollar a barrel higher, notching their biggest weekly gains since October, as the U.S. dollar dropped to a seven-month low and more indicators pointed toward growing demand from top oil importer China.

The outright price of WCS was more than $56 a barrel.

TC Energy

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • July 9th Alberta Crown Land Sale totals $25.3 MM – Montney and Clearwater prospects command premiums – StackDX Intel
  • Discount on Western Canada Select narrows to $10 a barrel
  • Vermilion Energy Inc. Announces Closing of the Saskatchewan Asset Sale
  • Brazilian oil could find new destinations in the face of Trump’s tariffs
  • Gibson Energy Confirms 2025 Second Quarter Earnings Release Date and Provides Conference Call & Webcast Details

Return to Home
Alberta GasMonthly Avg.
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
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contact
    • Report Error
    BOE Network
    © 2025 Stack Technologies Ltd.