February 7, 2025
Discount on Western Canada Select heavy crude narrows
By Reuters
The discount on Western Canada Select (WCS) heavy crude to West Texas Intermediate (WTI) narrowed to $13.50 per barrel on Friday from $13.95 on Thursday. Analysts noted that Canadian heavy crude prices have remained stable despite U.S. tariff concerns. President Trump paused a planned 10% tariff on Canadian oil for 30 days in exchange for concessions.
The discount on Canadian crude has not widened to the point that it poses a problem for the Canadian oil industry, said RBN Energy analyst Martin King. “I think where it is right now, where it’s been the last few months, is extremely reasonable,” King said.
See the full article here Discount on Western Canada Select heavy crude narrows | BOE Report
Canada exports around 4 million barrels of oil per day to the U.S. Meanwhile, global oil prices rose due to new sanctions on Iran but ended the week lower amid trade war concerns.
