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CANADA-CRUDE-Discount on Western Canada Select heavy crude narrows

ReutersFeb 10, 2025 10:24 PM

- The discount of Western Canada Select (WCS) heavy crude to the North American benchmark West Texas Intermediate futures (WTI) CLc1 narrowed on Monday:

WCS for March delivery in Hardisty, Alberta, settled at $13.20 a barrel under WTI, according to brokerage CalRock, having ended at a $13.50 discount on Friday.

Canadian heavy crude prices have so far held up well in the face of U.S. President Donald Trump's tariffs plan, analysts said.

Trump paused his plan to impose a 10% levy on Canadian oil for 30 days last week, in return for concessions on border and crime enforcement.

Canada exports approximately 4 million barrels of oil per day to the United States.

Globally, oil prices rose nearly 2% on Monday after posting their third straight week of losses, even though investors remained worried that U.S. President Donald Trump might start a trade war. Tariffs could dampen global economic growth and energy demand.

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