Sign Up for FREE Daily Energy News
Copper Tip Energy Services
Precision Well Servicing
Hazloc Heaters
Precision Well Servicing
Copper Tip Energy
Hazloc Heaters

Heavy crude discount grows, Keystone section stays closed

The Canadian heavy oil differential widened against the West Texas Intermediate (WTI) benchmark on Friday, as a section of the Keystone pipeline remained closed because of an oil leak in Missouri:

* Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $11 a barrel below WTI crude futures wider than Thursday’s settle at $10.25 below WTI, according to Net Energy Exchange.

* A portion of TransCanada Corp’s Keystone oil pipeline between Steele City, Nebraska and Patoka, Illinois remained shut on Friday, and there is no estimated return to service, the company said.

* Another factor in widening differentials is the Alberta provincial government’s easing this month of its forced production cuts, along with decreased rail shipments, a Calgary industry source said.

* Light synthetic crude from the oil sands for March delivery traded on par with WTI, compared with Thursday’s settle of 15 cents over WTI.

* Oil futures edged higher on Friday but ended the week with a loss on renewed concerns about slowing global demand and after the dollar posted its best week in six months.

Share This:

More News Articles

New SHOWCASE Directory Companies


CFR Chemicals
Osprey Informatics
Vision Integrity Engineering Ltd.
Silverstream Energy Solutions
Nationwide Boiler Inc
Scovan Engineering