Commodities
WCS Discount Widens to $11.90 per Barrel as Trans Mountain Pipeline Hits Capacity
The discount on Western Canada Select (WCS) crude oil to North American benchmark West Texas Intermediate (WTI) futures widened on Wednesday, according to brokerage CalRock.
July delivery of WCS in Hardisty, Alberta settled at $11.90 a barrel below WTI, up from $11.80 a barrel on Tuesday.
This widening discount comes as the WCS differential has been volatile with global crude price swings since the start of the U.S.-Iran conflict.
Al Salazar, head of research at Enverus, noted that the WCS differential has compressed as WTI has come down from recent months' highs.