CANADA-CRUDE-Western Canada Select discount widens

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 9 (Reuters) - Western Canada Select (WCS) crude's discount to the benchmark West Texas Intermediate (WTI) widened on Thursday.


* WCS for April delivery in Hardisty, Alberta traded between $16.20 and $15.95 a barrel under the WTI, according to brokerage CalRock, having traded between $16.10 and $15.85 a barrel a barrel under WTI on Wednesday.


* The price of WCS for delivery in Hardisty suffered along with U.S. benchmark futures on fears that the Federal Reserve would pursue a more aggressive rate hike path in a move that could limit oil demand. "Western Canadian select reacted in kind here because, ultimately, if the economy is slower, the demand for (oil) is slower, too," said Bart Melek, head of commodity strategy at TD Securities


* U.S. West Texas Intermediate (WTI) crude fell 94 cents, or 1.2%, to settle at $75.72 on increased worries the U.S. central bank may go too far with its interest rate hikes to control inflation. (Reporting by Laila Kearney; Editing by Krishna Chandra Eluri)

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