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WCS Discount to WTI Widened on Whitening Outage

OIL

Western Canadian Select’s discount to WTI widened to $18.60/bbl from $18.10/bbl yesterday following the outage at BP’s Whitening refinery, according to person familiar and General Index prices quoted on Bloomberg.

  • The discount widened to as much as $19/bbl after shutdown, the person said.
  • BP is planning to restart units at the 435kbpd Whiting, Indiana, refinery today – the largest US Midwest refinery - after a power outage led the company to shut down operations, the firm said, cited by Argusmedia. The refiner expects power to be restored to the plant by 11:00pm ET Friday before restarting, the City of Whiting said in a statement this evening, citing BP officials.
  • The refinery is one of the largest consumers of Canadian heavy crude in the region.
  • WCS prices have already weakened earlier this week as the Trans Mountain pipeline expansion faced another delay due to technical issues.
Energy BulletsCommodities
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