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Canadian Crude Discounts Shrink on Whiting Restart

OIL

Western Canadian Select’s discount to WTI narrowed following the restart of BP’s Whiting refinery, according to Bloomberg, citing sources and General Index prices.

  • The WCS v WTI spread narrowed from minus $18.65/b F compared to $19.05/b the previous day.
  • BP confirmed that power has been fully restored to its Whiting refinery in the US Midwest as expected today and operations are resuming according to Bloomberg.
  • The refinery is one of the largest consumers of Canadian heavy crude in the region.
  • WCS prices have been under pressure due to further delays in the Trans Mountain pipeline expansion.
Energy BulletsCanada Bank of Canada Market NewsCommodities
Energy BulletsCanada Bank of Canada Market NewsCommodities

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