The differential of Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Friday.
WCS for May delivery in Hardisty, Alberta, began trading at $12.85 per barrel below WTI and ended at $13 under, according to brokerage CalRock. On Thursday, May WCS traded between $12.40 and $12.60 below WTI.}
Trans Mountain said Wednesday its expanded oil pipeline would start operating on May 1.
The pipeline’s progress and line fill ahead of its opening had driven the differential narrower but some market participants are now turning cautious about the logistics of smoothly loading oil from the expanded pipeline to vessels in British Columbia, an industry source said.
Brent crude LCOc1 climbed more than $1 a barrel as markets watched for a possible direct conflict between Israel and Iran.
(Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Alan Barona)