Sign Up for FREE Daily Energy News
canada flag CDN NEWS  |  us flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • instagram
  • youtube2
BREAKING NEWS:
Hazloc Heaters
Copper Tip Energy Services
Zachry Integrity Engineering
Copper Tip Energy
Zachry Integrity Engineering
Hazloc Heaters


Heavy Oil Discount Narrows for Fourth Straight Session


These translations are done via Google Translate
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Thursday:

* WCS for September delivery in Hardisty, Alberta, settled at $13.10 a barrel below WTI, according to brokerage CalRock, having settled at $13.35 a barrel under the U.S. benchmark on Wednesday.

* It was the fourth straight session in which the heavy crude discount shrank, helped by Exxon Mobil restarting select units at its 251,800 barrel-per-day refinery in Joliet, Illinois, three weeks after it lost power following a storm.

* Joliet is one of the biggest single buyers of Canadian heavy crude, consuming about 8% of all Canadian exports, said Rory Johnston, founder of the Commodity Context newsletter.

* Global oil prices settled higher for the third consecutive session, after U.S. jobs data eased demand concerns and war in the Middle East helped prices recover from an eight-month low on Monday.

(Reporting by Nia Williams in British Columbia; Editing by Anil D’Silva)



Share This:



More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE