CANADA-CRUDE-Western Canada Select discount edges wider as wildfires ease

Kitco Media
By Reuters
Published:
Updated:
Reuters
May 10 (Reuters) - Western Canada Select (WCS) heavy crude's discount to the benchmark West Texas Intermediate (WTI) inched wider on Wednesday:


* WCS for June delivery in Hardisty, Alberta, ended the day at $13.45 a barrel under the benchmark, according to brokerage CalRock. On Tuesday the Canadian heavy benchmark settled at $13.40 a barrel under WTI.
* The heavy crude benchmark has tightened this week on concerns about wildfires in Alberta, one trader said, even though so far only light oil and gas production has been impacted.
* The wildfires eased on Wednesday, allowing some producers to reopen shuttered production, but hot dry conditions are forecast over the weekend and officials warned fire activity could intensify.
* Suncor Energy said a worker was injured in a bear attack at the company's oil sands base plant in northern Alberta, the latest in a series of safety incidents at the Canadian oil producer.
* Global oil prices fell by more than a dollar a barrel, ending a three-day rally, as economic data suggested the U.S. Federal Reserve might hike interest rates further.
* That put the outright price of WCS at just over $59 a barrel. (Reporting by Nia Williams Editing by Chris Reese)

Messaging: nia.williams.thomsonreuters.com@reuters.net))
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