Western Canada Select (WCS) heavy crude oil for delivery in October to Hardisty, Alberta, was traded at $7. 45 in line with the WTI barrel, according to NE2 Canada Inc. Wednesday stood at $7. 50.
The hole remains narrow due to the request for Canadian heavy oil on the US Gulf coast. The area of giant pipelines and recent production disruptions, said a source of the Calgary industry.
This month, Imperial Oil Ltd closed production at its Kearl oil sands facility of 220,000 barrels per day (b/d) in Alberta due to a Polaris pipeline failure in Alberta. Suncor Energy reduced its production forecast for 2020 to 9% this week after the August chimney at its base mine.
The light artificial oil from the bituminous sands for delivery in October traded 80 cents under the WTI, closer than Wednesday’s $1. 30 cent settlement.
Enbridge Inc. announced Wednesday that it will restart the east side of its Pipeline Five pipeline in Mackinac Strait after receiving approval from the US federal pipeline regulator. But it’s not the first time
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