Free Trial

WCS/WTI Diff Widens as TMX Operations Build

OIL

Western Canada Select (WCS) for July delivery in Hardisty, Alberta, traded at $13.35/bbl below WTI on Tuesday, according to brokerage CalRock, having settled at $12.50/bbl under the benchmark on Monday.

  • It had settled at $11.75/bbl under the benchmark on Friday.
  • It had been tightening in the run up to the opening of the recently expanded Trans Mountain pipeline but is widening now it is operational.
  • Oil production continues to surge, with data showing Alberta output set a new April record of 3.93 million bpd, up 11% versus the same month time last year, according to ATB Financial.

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.