Heavy oil discount widens | BOE Report

Heavy oil discount widens | BOE Report

Enerplus Alberta Oil Wells
Pump jacks in Alberta

The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Tuesday:

* WCS for November delivery in Hardisty, Alberta, settled at $21.25 a barrel under WTI, according to brokerage CalRock, having settled at $20.80 a barrel under the benchmark on Friday, the last trading day before the Canadian Thanksgiving holiday.

* Canadian heavy crude prices have been widening this month as refinery maintenance weighed on demand and amid continuing uncertainty over when the Trans Mountain pipeline expansion, scheduled for early next year, will start shipping crude.

* Volatile trade continued in global oil prices, which settled lower as concerns eased about potential supply disruptions from the battle between Israel and the Palestinian Islamist group Hamas, though traders remained watchful.

(Reporting by Nia Williams in British Columbia; Editing by Jamie Freed)


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