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Discount on Western Canada Select Heavy Crude Widens


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 Thursday:

* WCS for January delivery in Hardisty, Alberta, settled at $12.60 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $12.20 a barrel under the U.S. benchmark on Wednesday.

* Canadian heavy crude prices are trading at a relatively strong level thanks sufficient export pipeline capacity since the Trans Mountain expansion project started operating earlier this year.

* Analysts at RBC Capital Markets said they expected the excess capacity on pipelines to support narrower WTI-WCS spreads into 2025.

GLJ

* Global oil prices fell as investors weighed an ample supply outlook for next year against OPEC+ delaying its planned output increase by three months to April 2025.

* The outright price of WCS dropped below $56 a barrel.

(Reporting by Nia Williams in British Columbia; Editing by Sumana Nandy)



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