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Discount on Western Canada Select Heavy Crude Widens


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) widened on Wednesday:

* WCS for March delivery in Hardisty, Alberta, settled at $13.25 a barrel under WTI, according to brokerage CalRock, having ended at a $13 discount on Tuesday.

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

* 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 down more than 2% on Wednesday after Trump took the first big step toward diplomacy over the war in Ukraine he has promised to end, a war that has supported oil prices on concerns about global supplies.

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



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