off-the-wire

CANADA-CRUDE-Western Canada Select discount widens

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 13 (Reuters) - Western Canada Select (WCS) crude's discount to the benchmark West Texas Intermediate (WTI) widened on Monday.


* WCS for April delivery in Hardisty, Alberta traded between $17.00 and $16.90 a barrel under WTI, according to brokerage CalRock, having traded between $16.40 and $16.35 a barrel under the U.S. benchmark on Friday.


* Canadian heavy crude reached a nine-month high of around $15 a barrel under WTI last week, but has eased off in recent sessions.
* Light synthetic crude from the oil sands for April delivery traded between $3.00 and $3.15 per barrel over U.S. crude, finding support from upcoming maintenance on oil sands upgraders.
* WTI fell over 2% in volatile trading to $74.80 a barrel as the collapse of Silicon Valley Bank roiled equities markets and raised fears of a fresh financial crisis, while a recovery in Chinese demand provided some support. (Reporting by Nia Williams Editing by Shri Navaratnam)

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