WCS for q1
Posted: Thu Mar 28, 2024 5:41 pm
Things are looking better for the Canadian WCS sellers
WCS for q1 was 57.65 vs q4 @ 56.43 USD
crack spreads have improved good for the refiners
https://twitter.com/gugo907/status/1773427266644545627?s=42&t=pgzzFESpRCcPkSe1KLcphQ
From Platts
Spot Western Canadian Select crude has averaged at a $13.92/b discount to WTI so far in March, according to Platts assessments. That discount has narrowed from an average $25.44/b in November, when Canadian export supply of roughly 4.8 million b/d exceeded pipeline capacity by 180,000 b/d, S&P Global Commodity Insights data shows.
Differential was 19.33 avg for q1 now about 14 a 5 dollar improvement. And WTI is up about 5 bucks so net net a 10 dollar improvment now vs q1>>>This is huge for Canadian WCS oil players
WCS for q1 was 57.65 vs q4 @ 56.43 USD
crack spreads have improved good for the refiners
https://twitter.com/gugo907/status/1773427266644545627?s=42&t=pgzzFESpRCcPkSe1KLcphQ
From Platts
Spot Western Canadian Select crude has averaged at a $13.92/b discount to WTI so far in March, according to Platts assessments. That discount has narrowed from an average $25.44/b in November, when Canadian export supply of roughly 4.8 million b/d exceeded pipeline capacity by 180,000 b/d, S&P Global Commodity Insights data shows.
Differential was 19.33 avg for q1 now about 14 a 5 dollar improvement. And WTI is up about 5 bucks so net net a 10 dollar improvment now vs q1>>>This is huge for Canadian WCS oil players