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Discount on Western Canada Select Heavy Crude Widens to End the Week


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) widened on Friday:

* WCS for November delivery in Hardisty, Alberta, settled at a discount of $11.30 per barrel under the WTI benchmark, according to brokerage CalRock, having settled at $10.85 a barrel under the benchmark on Thursday.

* Canadian heavy crude prices are increasingly influenced by global factors and are tracking the price of heavy sour crude prices on the U.S. Gulf Coast after the opening of the expanded Trans Mountain pipeline provided ample space on export pipelines, one Calgary-based crude trader said.

* PetroChina Canada will no longer be a committed shipper on the Trans Mountain oil pipeline after assigning its contracts to another party, the company said in a letter filed with the Canada Energy Regulator, dated Oct. 10.

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* Global oil prices settled lower on the day but rose for a second straight week as investors weighed factors such as possible supply disruptions in the Middle East and Hurricane Milton’s impact on fuel demand in Florida.

(Reporting by Nia Williams in British Columbia; Editing by Alan Barona)



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