CANADA-CRUDE-Discount on Western Canada Select widens
March 10 (Reuters) - The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures CLc1 widened on Tuesday as global oil prices plummeted after Trump's Middle East de-escalation prediction.
WCS for April delivery in Hardisty, Alberta, settled at $12.75 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $12.65 on Monday.
The discount on heavy Canadian crude remains almost a dollar tighter than when the U.S.-Israeli war on Iran began.
With the Strait of Hormuz closed, there is a supply shortage of heavy and sour grades of crude oil in Asia, which is increasing demand for Canadian barrels in overseas markets.
But global oil prices plunged by more than 11% on Tuesday, the steepest percentage drop of any session since 2022, a day after U.S. President Donald Trump predicted a quick end to the war with Iranthat has disrupted global crude flows.
