BOE Report - Heavy discount widens modestly as supplies grow

December 2, 2020 – BOE Report

Heavy discount widens modestly as supplies grow

via Reuters

… Western Canada Select (WCS) heavy blend crude for January delivery in Hardisty, Alberta, traded at $12 per barrel below WTI, according to NE2 Canada Inc, wider than Tuesday’s settlement of $11.45 under.

Improving demand for heavy oil in the U.S. Gulf of Mexico has supported prices, but it will be slow to fully come back during the pandemic, said Martin King, senior analyst at RBN Energy. He added that with little Canadian crude moving by rail and pipelines not greatly oversubscribed, there are few drivers for further widening of differentials...…

Read the full article here: https://boereport.com/2020/12/02/heavy-discount-widens-modestly-as-supplies-grow/