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Discount on Western Canada Select Heavy Crude Narrows


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

 

* WCS for March delivery in Hardisty, Alberta, settled at $13.15 a barrel under WTI, according to brokerage CalRock, having ended at a $13.25 discount on Wednesday.

* The discount on Canadian heavy crude prices has been easing since February 5, when it sat at $14 a barrel under WTI.


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* U.S. President Donald Trump paused his plan to impose a 10% levy on Canadian oil for 30 days on February 3, in return for concessions on border and crime enforcement.

GLJ

* Canada exports approximately 4 million barrels of oil per day to the United States.

* Oil prices settled flat on Thursday, paring early losses of more than 1% as U.S. tariff announcements were delayed until at least April, feeding hope that the world could avoid a trade war that would pressure economies and energy demand.

(Reporting by Georgina McCartney in Houston; Editing by Mohammed Safi Shamsi)



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