CANADA-CRUDE-Western Canada Select discount steady as oil benchmarks slide

Kitco Media
By Reuters
Published:
Updated:
Reuters
May 2 (Reuters) - Western Canada Select (WCS) heavy crude's discount to the benchmark West Texas Intermediate (WTI) held steady on Tuesday, although the outright price of WCS slipped as global oil prices fell:


* WCS for June delivery in Hardisty, Alberta, traded between $14.90 and $14.80 a barrel under WTI, according to brokerage CalRock, barely changed from the previous day when it traded between $14.90 and $14.75 a barrel under the benchmark.
* Global oil prices sank about 5% to a five-week low on economic concerns, however, as U.S. politicians discuss ways to avoid a debt default and investors prepare for more rate hikes this week.
* That put the outright price of WCS at less than $57 a barrel, having settled just under $61 a barrel on Monday. (Reporting by Nia Williams)

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