March 12, 2021 – BOE Report
Heavy crude differential widens to end week
Canadian heavy crude’s discount to West Texas Intermediate (WTI) widened on Friday. Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty was trading at $11.35 per barrel below WTI, according to NE2 Canada Inc, widening from Thursday’s settlement of $11.10 per barrel below the benchmark.
Despite Friday’s widening, the heavy differential has remained relatively tight due to strong demand from U.S. Gulf refiners after the recent Texas storm and talk that pipeline companies are using additional drag reducing agent to move greater volumes, said Martin King, senior analyst at RBN Energy.
Read the full article here: https://boereport.com/2021/03/12/heavy-crude-differential-widens-to-end-week/
