The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Monday as the new monthly trade cycle got underway:
* WCS for July delivery in Hardisty, Alberta, traded at $12.50 a barrel below WTI, according to brokerage CalRock, having settled at $11.75 a barrel under the benchmark on Friday.
* Canadian heavy crude prices remain relatively strong, however, gaining support from increased access to global markets via the 590,000 barrel-per-day Trans Mountain pipeline expansion, which started operating last month.
* Chinese refiner Rongsheng Petrochemical has bought its first Canadian crude cargo via Trans Mountain from TotalEnergies through a tender, several trade sources said on Monday.
* Global oil prices tumbled by $3 a barrel to their lowest in nearly four months, as investors worried that a complicated OPEC+ output decision could lead to higher supplies later in the year even though demand growth has been slow.
(Reporting by Nia Williams in British Columbia; Editing by Anil D’Silva)