Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

CANADA-CRUDE-Heavy discount stays flat, rising production in focus

Published 2020-11-05, 02:29 p/m
© Reuters.
CNQ
-

Nov 5 (Reuters) - Canadian heavy crude's discount versus West Texas Intermediate (WTI) was trading flat on Thursday, with the market focused on the impact of additional production coming to market.

* Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, traded at $9.90 per barrel below WTI, according to NE2 Canada Inc, unchanged from the previous day's settlement.

* Canadian producers are raising production due to the lifting of Alberta government curbs and stable prices. Canadian Natural Resources CNQ.TO said it would raise oil production in December, without specifying the volume. Storage levels in Western Canada remain low, Canadian Natural said.

* Light synthetic oil from the oil sands for December delivery traded at $3.50 below WTI, slightly narrower than Wednesday's settle of $3.55 under.

* Global oil prices dropped, weighed down by the steady rise in coronavirus infections and as the outcome of the U.S. presidential election had still not been settled. O/R

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.