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

ReutersMay 14, 2025 9:14 PM

- The discount on Western Canada Select (WCS) to the North American benchmark West Texas Intermediate futures (WTI) CLc1 was unchanged on Wednesday.

WCS for June delivery in Hardisty, Alberta, settled at $9.15 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, flat on Tuesday's close.

* Canadian heavy crude has been trading at a tight discount in recent months in part due to the opening of the Trans Mountain pipeline expansion one year ago, which boosted the country's oil export capacity. On average, WCS-WTI differentials have narrowed by $4, or 23%, over the past year, according to RBC Capital Markets.

* Canadian crude has also benefited from U.S. sanctions on Venezuela and other countries, which is boosting demand for non-sanctioned heavy crude producers.

* Globally, oil prices eased on Wednesday after government data showed U.S. crude oil stockpiles rose unexpectedly last week, prompting investor concerns of excess supplies.

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