The discount on Western Canada Select, WCS, crude oil to North American benchmark West Texas Intermediate futures widened slightly on Wednesday.
WCS for November delivery in Hardisty, Alberta, settled at $25.55 a barrel below the US benchmark WTI, compared with $25.50 on Tuesday, according to brokerage CalRock. The discount remains more than $10 wider than it was at this point in last month’s trading cycle and is wider than it has been since 2023.
* High freight rates have sharply cut export demand for crude oil in the Americas. Prices for heavy crude oil grades similar to Canadian oil, including Venezuelan, Ecuadorian and Colombian, have all eased in recent weeks.
* Oil prices rose on Wednesday after the Houthis attacked Saudi Aramco’s headquarters and Iran said it was deploying new tactics to target ships and keep oil prices high.
(Reporting by Amanda Stephenson in Calgary; Editing by Perla Velasco)