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WCS for December delivery in Hardisty, Alberta, settled at $11.10 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared to Friday’s close of $11.80.
* Structural tightness in global heavy oil markets and excess pipeline capacity out of Western Canada has kept the WCS discount narrow this autumn, surprising some analysts.
* The WCS discount typically widens after the summer driving season ends, but has seen a contrary pattern this year.
* Oil prices held steady on Monday as the market balanced the latest OPEC+ supply increase with the group’s plans to pause output increases in the first quarter of 2026 along with fears of an oil supply glut and weak factory data in Asia.
* Monday was the start of the Canadian crude market’s trade cycle, which runs from the first of each month until the day before pipeline nominations are due, and in which the bulk of the trading activity takes place.
(Reporting by Amanda Stephenson in Calgary; Editing by Tasim Zahid)
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