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Discount on Western Canada Select heavy crude narrows

February 13, 2025 4:10 PM
Reuters


The discount of Western Canada Select (WCS) heavy crude to the North American benchmark West Texas Intermediate futures (WTI) narrowed on Thursday:

* WCS for March delivery in Hardisty, Alberta, settled at $13.15 a barrel under WTI, according to brokerage CalRock, having ended at a $13.25 discount on Wednesday.

* The discount on Canadian heavy crude prices has been easing since February 5, when it sat at $14 a barrel under WTI.

* U.S. President Donald Trump paused his plan to impose a 10% levy on Canadian oil for 30 days on February 3, in return for concessions on border and crime enforcement.

* Canada exports approximately 4 million barrels of oil per day to the United States.

* Oil prices settled flat on Thursday, paring early losses of more than 1% as U.S. tariff announcements were delayed until at least April, feeding hope that the world could avoid a trade war that would pressure economies and energy demand.

(Reporting by Georgina McCartney in Houston; Editing by Mohammed Safi Shamsi)

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