Heavy discount edges wider as oil prices fall

Canadian heavy crude’s discount widened slightly versus the U.S. benchmark West Texas Intermediate (WTI) on Monday.

Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, traded at $9.05 per barrel below WTI, according to NE2 Canada Inc, wider than Friday’s settle of $9 under.

Light synthetic crude from the oil sands was trading at $3.35 after Friday’s settle of $3.50 under.

Global oil prices fell after Saudi Arabia said an extension of output cuts by OPEC+ nations would not include additional voluntary reductions by a trio of Gulf producers.