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Heavy oil discount holds steady

Monday, 09 September 2024 | 00:00

The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) was steady on Friday:

* WCS for October delivery in Hardisty, Alberta, settled at $13.70 a barrel below WTI, according to brokerage CalRock, unchanged from the previous day’s settlement.

* Global oil prices settled 2% lower, with a big weekly loss after U.S. jobs data was weaker-than-expected in August, which outweighed price support from a delay to supply increases by OPEC+ producers.

* The outright price of WCS was around $54 a barrel.
Source: Reuters (Reporting by Nia Williams in British Columbia; Editing by Tasim Zahid)

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