off-the-wire

CANADA-CRUDE-Western Canada Select discount widens slightly

Kitco Media
By Reuters
Published:
Updated:
Reuters
April 4 (Reuters) - Western Canada Select (WCS) crude's discount to the benchmark West Texas Intermediate (WTI) widened slightly on Tuesday but remained in sight of recent 11-month highs:


* WCS for May delivery in Hardisty, Alberta traded between $15.00 and $14.50 a barrel under WTI, according to brokerage CalRock, having traded between $14.55 and $14.00 a barrel under the U.S. benchmark on Monday.


* Canadian heavy crude reached its tightest differential since last May in recent days, and is expected to remain supported as oil sands projects enter turnaround season.
* Analysts also forecast a surprise supply cut from producer group OPEC+ over the weekend may boost Canadian crude exports from the U.S. Gulf Coast.
* Global oil prices were little changed in choppy trading as investors weighed the OPEC+ production cuts against weak U.S. and Chinese economic data that could suggest cooling oil demand.
* The outright price of WCS was just under $66 a barrel. (Reporting by Nia Williams)

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