off-the-wire

CANADA-CRUDE-Western Canada Select discount widens

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 8 (Reuters) - Western Canada Select (WCS) crude's discount to the benchmark West Texas Intermediate (WTI) widened on Wednesday.


* WCS for April delivery in Hardisty, Alberta traded between $16.10 and $15.85 a barrel under the WTI, according to brokerage CalRock, having traded between $15.35 and $15.70 a barrel under WTI on Tuesday.
* The price of WCS for delivery in Hardisty has been hampered in recent weeks by crude quality discounting pressure at the U.S. Gulf Coast.


* Light synthetic crude from the oil sands for April delivery traded $3.20 and $3.55 a barrel over WTI, according to CalRock.
* U.S. benchmark oil futures fell by 92 cents a barrel on Wednesday as fears that more aggressive U.S. interest rate hikes would restrict economic growth and hamper oil demand outweighed a larger-than-expected draw in U.S. crude stocks. (Reporting by Laila Kearney; Editing by Maju Samuel)

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