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Discount on Western Canada Select heavy crude edges wider

November 7, 2024 5:20 PM
Reuters


The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened slightly on Thursday:

* WCS for December delivery in Hardisty, Alberta, settled at $11.85 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $11.75 a barrel under the U.S. benchmark on Wednesday.

* Canadian heavy crude prices have traded in a narrow range at a relatively strong level so far this month.

* Global oil prices rose nearly 1% as the market weighed how U.S. President-elect Donald Trump’s policies would affect supplies and as drillers cut output while bracing for Hurricane Rafael.

(Reporting by Nia Williams in British Columbia; Editing by Subhranshu Sahu)

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