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Discount on Western Canada Select heavy crude widens

November 15, 2024 3:58 PM
Reuters


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

* WCS for December delivery in Hardisty, Alberta, settled at $11.60 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $11.45 a barrel under the U.S. benchmark on Thursday.

* Global oil prices settled down more than 2% as investors fretted about weaker Chinese demand and a potential slowing in the pace of U.S. Federal Reserve interest rate cuts.

* The outright price of WCS dropped below $56 a barrel.

(Reporting by Nia Williams in British Columbia; Editing by Mohammed Safi Shamsi)

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