Politics
Canadian Oil at Widest Discount to US Prices Since 2018
Key Points
Commodities Canadian Oil at Widest Discount to US Prices Since 2018 Canadian heavy crude prices reached their weakest relative to US oil futures since 2018, when a massive pipline bottleneck prompted Alberta’s government to impose production limits on the largest producers. Western Canadian Select’s discount in Alberta to a monthly average of West Texas Intermediate futures grew to $31.70 a barrel early Tuesday, the widest since November of 2018, according to Modern Commodities and General...
Commodities
Canadian Oil at Widest Discount to US Prices Since 2018
Canadian heavy crude prices reached their weakest relative to US oil futures since 2018, when a massive pipline bottleneck prompted Alberta’s government to impose production limits on the largest producers.
Western Canadian Select’s discount in Alberta to a monthly average of West Texas Intermediate futures grew to $31.70 a barrel early Tuesday, the widest since November of 2018, according to Modern Commodities and General Index prices. The secondary benchmark Canadian Cold Lake crude’s discount on the US Gulf Coast was at similarly wide levels not seen in eight years, standing at $23.10.