WTI is lighter and sweeter than the international benchmark, North Sea Brent, which is priced out of Sullom Voe, Scotland. The two most popular Canadian benchmarks are Canadian Light and Western Canadian Select. WCS is a heavy sour blend, while Canadian Light is a blend of light conventional crudes, similar in quality to WTI. Unfortunately, although Canadian heavy oil has excellent marketability in the Gulf Coast, the pipeline network to the USGC is limited at best, and unlikely to get better in the near term. That forces barrels onto rail cars and drives up the price discounts in Alberta. WTI VS WCS PRICES IN HOUSTON. USD/BBL • DATA FROM NYMEX/ARGUS. This is because Brent is trading at a US$3 per barrel premium to WTI. Oil sands giant. Canadian Natural Resources, regardless of the protracted oil price slump, is a free cash flow-generating Why Canadian heavy oil prices are falling faster than global crude benchmarks As oil price differentials rise, expect railway movements to hit new record highs of between 400,000 bpd and 500,000 bpd The Canadian energy sector has been through a turbulent five-year period, with oil prices dropping sharply in early 2016 and then again in late 2018, as the discount on Western Canadian Select WTI continues to be the main benchmark for oil consumed in the United States. Dubai/Oman This Middle Eastern crude is a useful reference for oil of a slightly lower grade than WTI or Brent. Crude oil slumped to its lowest since 2016 on Monday as the coronavirus pandemic continued to weigh on global demand amid a price war between OPEC and its allies that's boosting supply.
6 Mar 2020 Oil price plunge puts Alberta budget into question "Every dollar reduction in the price of WTI (West Texas Intermediate oil) takes about $200 million out of provincial revenues," said Jason REPLAY: Coronavirus: Fact vs. The CCI is priced in USD and is calculated as the sum of WTI price and the WCS To track the price of Canadian Crude oil without the equity market risks is more volatile, and has a highly variable correlation to benchmarks creating trading WTI and Brent aren't the only oil pricing benchmarks. That means it is low density (as compared to the heavy, dense oil from Canada's oil sands areas) and West Texas Intermediate (WTI) crude began to be priced under Brent, the higher delivered crude prices compared to the U.S. Gulf Coast has from the EPCA allow crude oil to be shipped to Canada under specifically granted permits . 27 Nov 2018 Western Canadian Select recently hit a low of $11.43 a barrel. by steam from the oil sands costs US$10-US$15 less per barrel than West Texas Intermediate, There is more than one reason why the oil price plummeted. 2 Apr 2019 Canadian oil prices have recovered from record discounts vs. WTI with the implementation of mandatory curtailments in Alberta. The strong
Here's a look at pricing differentials between Brent and WTI crude oil, which can be widened during 2011 with Brent trading at a premium compared to WTI. WTI Crude vs CAD Description. The personal composite instrument «&OIL/CAD» reflects the price dynamics of a barrel of crude oil Brent against the Canadian dollar. The base part of the instrument is composed of 1 barrel of American crude oil of West Texas Intermediate brand, and the quoted part – 1 Canadian dollar. WTI stands as one of the three primary benchmarks (WTI, Brent, Dubai) that are frequently used as a reference price for buyers and sellers of oil around the world. Similar to WCS, WTI is a blend of several U.S. domestic streams of sweet light crude oils. Western Canadian heavy crude’s price discount to WTI widened to the most in three years, at US$23 for the January contract and US$27 for the December contract, after Enbridge announced a new rationing of space in parts of its Mainline network, which is used to carry most of the crude Canada exports to the United States. Canadian oil producers exposed to the low prices are now fetching around $40 to 50 per barrel less than their counterparts in the United States. Why Canadian heavy oil prices are falling faster than global crude benchmarks As oil price differentials rise, expect railway movements to hit new record highs of between 400,000 bpd and 500,000 bpd
Oil's latest price moves and today's key news stories driving crude's action, as well as US and Canada closing world's longest border to non-essential traffic. 4. 4 Oct 2018 The divide between WCS and WTI has never been larger, according to The steep discount in Canadian oil prices compared to American
The West Texas Intermediate (WTI) price of oil, often a world reference price quoted in the media, averaged US$57.68 a barrel in January 2020, 12.3% higher 9 Mar 2020 The last time oil prices dropped this much was the 2015 oil shock Alberta's recent spring budget had forecast West Texas Intermediate Porter said federal coffers are in fairly good shape compared to other governments. Brent and WTI set the stage for prices that Alberta producers receive for their oil products. Page 2. An important benchmark price in Canada is known as. WTI and CLS: West Texas Intermediate (WTI) and Canadian Light Sweet (CLS) crude oil prices increased in 2018 by 27 and 4 per cent, respectively, because 13 Dec 2018 Each trades in reference to the WTI benchmark price. THREE DRIVERS OF 2017 AVG CRUDE PURCHASE PRICES VS API DENSITY 9 Mar 2020 'It's a game of survivor': Alberta energy industry braces as oil prices plunge West Texas Intermediate (WTI), which had fallen to US$32 a barrel, down although not necessarily a lifeline for Canadian producers versus some