In The News

Discount on Western Canada Select heavy crude narrows
Friday, 03/07/2025

March 5, 2025

Discount on Western Canada Select heavy crude narrows

Published by: Amanda Stephenson

The discount on Western Canada Select (WCS) heavy crude relative to West Texas Intermediate (WTI) narrowed slightly on Wednesday, following the implementation of U.S. tariffs on Canadian and Mexican goods. WCS for April delivery settled at $13.60 per barrel under WTI, compared to $13.70 the previous day.

 “The Canadian heavy crude market had a “knee-jerk reaction” to the tariffs immediately following their implementation, said...

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NGI - Canadian Natural Gas Storage Shrinks from Record Levels, but Price Response Muted
Thursday, 02/27/2025

February 26, 2025 Natural Gas Intelligence

Canadian Natural Gas Storage Shrinks from Record Levels, but Price Response Muted

By Kevin Dobbs

The February deep freeze across central North America drove a surge in natural gas consumption in Canada, leading to significant withdrawals from storage, particularly in Alberta and Ontario. By mid-February, Canadian storage had dropped significantly, with Alberta recording its third-largest withdrawal for the month in 30 years and Ontario its fourth-largest since 2010.

“At the start of this week, RBN...

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Financial Post - Houston's Oldest Refinery Is Shutting. It Won't Be the Last.
Wednesday, 02/19/2025

February 15, 2025

Houston's Oldest Refinery Is Shutting. It Won't Be the Last.

By Barbara Powell and Nathan Risser

LyondellBasell Industries NV is shutting down Houston's oldest refinery, originally built in 1918, due to the high costs of modernization and declining fuel demand. The closure reflects broader industry trends as gasoline consumption in the U.S. peaked five years ago, and the shift to cleaner energy reduces demand for traditional fuels.

“To stay viable, Lyondell would have had to sink significant capital – as much...

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Discount on Western Canada Select heavy crude narrows
Monday, 02/10/2025

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,...

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Calgary Herald - Varcoe: In 'another body blow', tariff threats already felt as Alberta natural gas prices lag U.S.
Wednesday, 01/29/2025

January 28, 2025 – Calgary Herald

Varcoe: In 'another body blow', tariff threats already felt as Alberta natural gas prices lag U.S.

By Chris Varcoe

Canadian petroleum producers are worried about the potential impact of a proposed 25% tariff on all Canadian imports to the U.S., set to take effect as early as Feb. 1. Even the threat of these tariffs has already driven down Alberta natural gas prices, with AECO gas selling at a significant discount compared to U.S. benchmark prices. Industry leaders believe the uncertainty is increasing market volatility...

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