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Heavy oil discount widens

January 17, 20246:03 PM Reuters0 Comments

Railcars holding crude oil The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Wednesday:

* WCS for February delivery in Hardisty, Alberta, settled at $19.40 a barrel under WTI, according to brokerage CalRock, having settled at $17.50 a barrel under the U.S. benchmark on Tuesday.

* The Canadian crude market is close to the end of its monthly trading window, which runs from the first of each month until the day before pipeline shipment nominations are due on Enbridge Inc’s Mainline system.

* Global oil prices were near flat as severe cold that disrupted some U.S. oil production offset disappointing economic growth in China that stoked worries about energy demand.

(Reporting by Nia Williams in British Columbia; Editing by Rashmi Aich)

Enbridge

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