Free Trial

Canadian Heavy Sours Rise on TMX Fill: Argus

OIL

Heavy sour Canadian crude in Hardisty, Alberta has cut its discount to WTI amid demand to fill the expanded Trans Mountain pipeline and the restart of the Whiting refinery.

  • West Canadian Select narrowed of $15.23/b discount to WTI, the smallest discount since August, based on Argus’ assessments.
  • Demand is rising as the operator of the 590k b/d TMX pipeline has called for a further 2.1m b/s of crude for April, with another 2.1m b/ requested for May.
  • Traders also expect a boost in downstream demand amid the anticipated return of the 435k b/d Whiting refinery in Indiana, which is undergoing a phased restart.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.