off-the-wire

CANADA-CRUDE-Western Canada Select discount steady as end of trade cycle nears

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 14 (Reuters) - Western Canada Select (WCS) crude's discount to the benchmark West Texas Intermediate (WTI) was steady on Tuesday.


* WCS for April delivery in Hardisty, Alberta traded between $17.10 and $16.90 a barrel under WTI, according to brokerage CalRock, having traded between $17.00 and $16.90 a barrel under the U.S. benchmark on Monday.


* Canadian heavy crude reached a nine-month high of around $15 a barrel under WTI last week, but has eased off in recent sessions.
* WTI dropped over 4% to a three-month low of $71.33 after a U.S. inflation report and the recent U.S. bank failures sparked fears of a fresh financial crisis that could reduce future oil demand. (Reporting by Nia Williams; Editing by Rashmi Aich)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.