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The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Tuesday:
* WCS for March delivery in Hardisty, Alberta, settled at $13.85 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at $13.50 a barrel under the U.S. benchmark on Monday.
* Canadian heavy crude prices have been under pressure in recent weeks due to U.S. President Donald Trump’s tariffs plan.
* Trump paused his plan to impose a 10% levy on Canadian oil for 30 days on Monday.
* Canada exports approximately 4 million barrels per day of oil to the U.S.
* Global oil prices diverged at settlement on Tuesday amid tariff drama between Washington and Beijing, and after U.S. President Trump restored his “maximum pressure” campaign on Iran, in a bid to drive Iranian oil exports to zero, per a U.S. official.
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