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Heavy Oil Discount Tightens as New Trade Cycle Begins


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) narrowed on Tuesday, the first day of the new monthly trade cycle:

* WCS for November delivery in Hardisty, Alberta, settled at $12.70 a barrel below WTI, according to brokerage CalRock, having settled at $13.05 a barrel under the benchmark in the previous trading session.

* Canadian heavy crude prices have held broadly steady in recent weeks, in contrast with volatile benchmark global oil prices.

GLJ
BBA Consultants

* Global oil prices climbed about 3% after Iran fired a salvo of ballistic missiles at Israel in retaliation for Israel’s campaign against Tehran’s Hezbollah allies in Lebanon.


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