Reported 2 months ago
The expansion of the Trans Mountain pipeline was expected to reduce the price discount of Canadian heavy oil compared to U.S. crude, but instead, the differential has widened. As of now, Western Canada Select (WCS) is trading approximately $15 per barrel below West Texas Intermediate (WTI), a significant drop from the $11.75 discount observed at the project's commercial launch. Factors like increased competition from Mexican crude imports and U.S. refinery outages have contributed to this trend, although some industry leaders remain hopeful for future improvements.
Source: YAHOO