Canada: CRUDE-Heavy oil differential inches tighter

Tamarack Valley Energy

16/04/2024 01:08

April 15 (Reuters) - The discount on Western Canada
Select (WCS) heavy crude versus the North American benchmark
West Texas Intermediate (WTI) narrowed slightly on Monday:
    
    * WCS for May delivery in Hardisty, Alberta, traded at
$13.20 and $13.25 a barrel below WTI, according to brokerage
CalRock, after closing at $13.45 a barrel below the benchmark on
Friday.
    * Canadian heavy crude differentials have been largely
steady after strengthening at the start of the month on news
that the 600,000 barrel-per-day Trans Mountain pipeline
expansion project will start operating on May 1.
    * Canadian oil and gas producer Tamarack Valley Energy
 TVE.TO  has temporarily shut in about 6,200 barrels of oil
equivalent per day (boepd) of production after a fire at a
third-party gas plant at Mitsue, Alberta.
    * Global oil prices slipped lower after Iran's weekend
attack on Israel proved to be less damaging than anticipated,
easing concerns of a quickly intensifying conflict that could
displace crude barrels. O/R     

 (Reporting by Nia Williams in British Columbia; Editing by
Subhranshu Sahu)
 ((nia.williams@tr.com))